CheQ AU
AU Small Finance Bank · Checked 2026-10-09
CheQ AU is a no-annual-fee option centred on shopping rewards, online spending and reward points.
CardIQ editorial view
Our take
CheQ AU is a no-annual-fee option centred on shopping rewards, online spending and reward points.
Who it suits
- People who prioritise shopping rewards.
- People who prioritise online spending.
- People who prefer keeping a card without an annual membership cost.
Key strengths
- 24 CheQ points per ₹200 on eligible partner-brand and CheQ-app purchases.
Trade-offs to understand
- 10 points per ₹200 in listed accelerated shopping, travel and food categories; 2 base points per ₹200 on other eligible purchases.
- 2 CheQ points = ₹1 for eligible travel or shopping redemptions; 4 points = ₹1 for eligible monthly bill payments. The advertised 12% point earn is not 12% cashback.
- Accelerated rewards capped at 12,000 points monthly; minimum eligible transaction ₹200. CheQ UPI earns 5 points per ₹200 on eligible transactions.
CardIQ verdict
A sensible long-term choice when you want shopping rewards, online spending and reward points without a recurring membership charge. Check this condition before applying: 10 points per ₹200 in listed accelerated shopping, travel and food categories; 2 base points per ₹200 on other eligible purchases.
Compare before deciding
- Axis Bank KWIK — A similarly priced alternative for comparing shopping rewards and reward points.
- Google Pay Flex Axis Bank — A similarly priced alternative for comparing shopping rewards and reward points.
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Benefits, limits and conditions
- 10 points per ₹200 in listed accelerated shopping, travel and food categories; 2 base points per ₹200 on other eligible purchases.
- 2 CheQ points = ₹1 for eligible travel or shopping redemptions; 4 points = ₹1 for eligible monthly bill payments. The advertised 12% point earn is not 12% cashback.
- Accelerated rewards capped at 12,000 points monthly; minimum eligible transaction ₹200. CheQ UPI earns 5 points per ₹200 on eligible transactions.
- Visa and RuPay issued together as one product. Optional LED card has a one-time ₹999 + GST charge.