In a major development in credit card industry, AU Small Finance Bank has launched a new Credit Card product. AU Small Finance Bank has launched the industry’s first customisable Credit Card, LIT, an official statement said.  

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AU Bank LIT (Live-It-Today) Credit Card

The AU Bank says that LIT (Live-It-Today) Credit Card offers a unique value proposition to cardholders – to choose the features they want and for the time period they want.

Releasing a statement while launching the Customisable Credit Card, AU Bank said, "While credit card companies offer attractive products in different categories, it is often difficult for customers to find the combination of all such features in one single card. This forces them to opt for multiple credit cards offering specific category rewards like Travel card for maximising travel related spends or co-branded cards for shopping on specific e-commerce sites. With the LIT Credit Card, the Bank has put the power to choose these features in the hands of the customers – all categories in one card. Further, they also get the freedom to switch on or off these features as per their changing lifestyle requirements."

LIT Credit Card offers five categories of features, namely:

-Lounge Access: Wherein customers can opt for one or two lounge access per quarter

-Milestone Benefits: By which, one can get more reward points or cashbacks

-OTT & Lifestyle Memberships: Wherein they can get free membership to various platforms and services

-Accelerated Rewards (Online/Offline): Customers can get higher reward points for online and POS transactions

-Other Features: Including fuel surcharge waiver, cashback on grocery, and much more

Commenting on the launch, Sanjay Agarwal, MD & CEO, AU Small Finance Bank, "At AU Bank, we have always believed in challenging the status quo by leveraging technology and innovation to bring the change that the banking industry needs. Last year, we became the first Small Finance Bank to start a Credit Card portfolio to empower our customers. Soon, we observed that the digitally-savvy and GenZ consumers needed more control over the products they use. This led to the evolution of the customizable LIT Credit Card which brings the features of many credit cards into a single card. We will continue to launch many such innovative products and remain true to our mission of being the change agent through our mission, Badlaav Humse Hai." 

"While AU Bank already has a bouquet of card services, the addition of the LIT Credit Card will help it cater to the evolving needs of a digital-savvy generation of informed users. AU Bank launched their first range of credit cards last year. Since then, the Bank has successfully enrolled more than 2.3 Lakh credit cards customers from over 200 districts of Tier 2 and Tier 3 cities, majority of whom are first time credit card users," the statement from AU Bank added.