A co-branded credit card is issued by a bank in association with a second party which could be a retail partner, travel website, sports league or a premium hotel chain. A co-branded credit card is sponsored by both the entities and is designed to carry features from both. Depending on the partner, the bank has tied up with, customers can enjoy benefits while making purchase transactions.
Co-branded credit cards come with various offers, incentives and discounts and are affiliated with retail merchants. As per the recent trend, banks have been tying up with e-commerce websites to introduce co-branded credit cards. Fuel and airline credit cards are some of the most common co-branded credit cards where rewards points can be redeemed for air miles, flight awards, products and class upgrades.
Benefits of Owning a Co-branded Credit Card in India
As co-branded credit cards are issued in association with leading payment processing gateways like MasterCard or Visa, it is accepted worldwide. You can shop from any merchant’s outlet across the globe.
Compared to a basic credit card, co-branded credit cards offer great offers and discounts as it exclusively designed for this purpose.
Some co-branded credit cards do not levy finance charges on Equated Monthly Instalment (EMI) transactions.
Some co-branded credit cards allow their cardholders to redeem their reward points on flight or hotel bookings making your travel cheaper.
Many co-branded credit cards offer excellent discounts on dining and entertainment bills which means you save while you spend.
Top Co-Branded Credit Cards in India
The key features of a few popular co-branded credit cards have been explained below:
FinBooster: YES Bank - BankBazaar Co-branded Credit Card
YES BANK recently announced the launch of its co-branded credit card BankBazaar- The FinBooster Credit Card. This will give you access to a credit fitness tracker and encourages you to keep track of your credit score and creditworthiness. With the credit card, you can also improve your score and look into the factors that impact your score. This is done via the intuitive CreditStrong app subscription.
Features of the Credit Card
You get credit fitness reports on a monthly basis with a real-time dashboard.
Enjoy a 1% waiver on the fuel surcharge on fuel transactions between Rs.400 and Rs.5,000.
The charge of Rs.400 for the credit fitness tracker (from the second year onwards) will be waived-off when you reach an annual spend of Rs.1 lakh during the previous year.
There is no cap on reward points and the points never expire.
You get 5x reward points on online dining spends.
Earn 3x reward points on online grocery and online apparel spends.
You get two reward points for every Rs.200 swiped for other retail spends, except for fuel expenses.
You can share your reward points with friends and family.
The reward points can be adjusted against your credit card balance.
The maximum fuel surcharge waiver you can get per statement cycle is Rs.125.
Accidental death cover (primary cardholder): Rs.2.5 lakh.
RBL Bank BankBazaar SaveMax Credit Card
The RBL Bank BankBazaar SaveMax Credit Card is a lifetime free credit card that offers a wide range of attractive rewards and cashbacks. The card also comes with a free monthly credit advisory on BankBazaar which will help you track your spends and monitor your credit score. The credit card also comes with balance transfer, EMI conversion, and pre-approved loan facility.
Features & Benefits
Convert all spends over Rs.2,500 into easy EMIs.
Xpress Cash facility for instant funds into your account.
Earn 5x reward points on grocery spends (maximum 1000 RP per month).
10% cashback (up to Rs.100 every month on each merchant) on BookMyShow and Zomato transactions.
Up to 100% discounts using EMI Infinity Pass on the Split n Pay Fee.
Manage your credit card, pay utility bills, get merchant offers and instant loans through the RBL Bank MyCard App.
Contactless payments in a fast and secure manner of up to Rs.5,000 in retail outlets.
Yatra SBI Credit Card
State Bank of India offers the Yatra SBI credit card in collaboration with Yatra.com. The annual fees and joining fees charged for the Yatra SBI credit card is Rs.499. The annual fee will be waived off if the previous year’s purchase is more than Rs.75,000. No fee is charged for add-on credit cards.
Features & Benefits
As welcome gifts, card holders can get a cashback of Rs.100 when they make their first cash withdrawal.
Customers can get travel vouchers from Yatra.com for a value of Rs.8250, once the joining fee has been paid.
Some of the other benefits of the card include add-on cards, cash withdrawals, railway ticket bookings, utility bill payments, EMI conversions, easy money and balance transfer.
The finance charges applicable on extended credit for the Yatra SBI credit card is 3.35% per month.
IRCTC SBI Platinum Credit Card
The annual fees charged for the IRCTC SBI Platinum Credit Card is Rs.300 and the joining fees charged will be Rs.500. No fee is charged for add-on credit cards.
Features & Benefits
As welcome gifts, IRCTC SBI Platinum Credit Card holders can get 350 bonus rewards points when Rs.500 is spent within 45 days of card issue and also a cashback of Rs.100 when they make their first cash withdrawal.
Railway tickets booked on irctc.co.in for AC1, AC CC and AC2 can get customers a value back of 10% in the form of rewards points.
Other purchase can get customers one rewards point for every Rs.150 spent.
IRCTC also provides various travel offers and privileges including booking of flight tickets.
The other benefits included under this card are fuel surcharge waiver and transaction charge waiver.
Customers can also get various offers from Visa and features like add-on cards, cash withdrawals, utility bill payments, EMI conversions, easy money and balance transfer.
The finance charges applicable on extended credit for the IRCTC SBI Platinum Credit Card is 3.35% per month.
The Axis Bank Miles & More Credit Card is offered by Axis Bank in association with Lufthansa. Miles and More is a travel loyalty program provided by Lufthansa, SWISS Air and Austrian Airlines along with few other major airlines. Axis Bank offers two co-branded cards - World Select Card and World Card under this program.
Features & Benefits
The World Select Card comes with welcome offers of 15,000 miles and 4,000 annual miles.
Customers can earn six miles for every Rs.200 spent on all eligible spends and 20 miles for every Rs.200 spent on movie tickets booked using the World Select Card.
The World Card comes with welcome offers of 5,000 miles and 3,000 annual miles.
Customers can earn 4 miles for every Rs.200 spent on all eligible spends and 20 miles for every Rs.200 spent on movie tickets booked using the World Card.
Accrued miles do not come with a validity period and can be used anytime by the customer.
Miles can be redeemed for flight booking, class upgrades, car rentals, hotel bookings, shopping and other exciting gifts.
Customers can also get Lost Card Liability cover, travel benefits, international airport lounge access, fuel surcharge waiver, EMI conversion facility, etc.
Jet Airways IndusInd Bank Odyssey Credit Card
The Jet Airways IndusInd Bank Odyssey Credit Card has been introduced as part of the JetPrivilege program and IndusInd Bank. The annual fees charged from the second year for the Jet Airways IndusInd Bank Odyssey Credit Card is Rs.4000 and joining fee charged is Rs.10,000.
Features & Benefits
As joining benefits customers can get 15,000 bonus JP Miles and a domestic flight ticket with the base fare waived off.
Renewals can get customers 5000 JP Miles and a domestic flight ticket with the base fare waived off. Online bookings done on jetairways.com can get customers 5% discounts.
Other benefits include Bon Vivant dining membership, Excess Baggage Allowance, Dedicated Check-In Counter, Priority Pass Membership, fuel surcharge waiver, wellness offers, golfing deals, concierge assistance and insurance in the form of Counterfeit Card Liability, cover against Unauthorized Transactions and Air Accident Cover.
The Jet Airways IndusInd Bank Odyssey Credit Card is available as Visa and American Express variants.
Cardholders can enjoy exciting offers on dining, shopping, movie ticket bookings, groceries, and so on.
The reward points structure is also well defined and all the benefits mentioned above are available at an annual fee of just Rs.499, that is waived off on spending Rs.1 lakh or more on the card in a year.
You can earn 1 reward point for every Rs.100 that you spend on the card.
In addition to that, you can also avail the benefits of the welcome reward points and the Accelerated Reward points system wherein you can earn ten reward points for every Rs.100 that you spend on the card on pre-defined categories.
You can be eligible for a maximum credit limit of up to Rs.10 lakh on this credit card.
The card is available at an annual fee of Rs.2,999.
You can earn two reward points for every Rs.100 that you spend on the card.
In addition to that, you can also avail the benefits of the welcome reward points worth Rs.3,000 and the Accelerated Reward points system wherein you can earn ten reward points for every Rs.100 that you spend on the card on pre-defined categories.
Tata Neu HDFC Credit Card
The card offers 2% cashback in the form of NeuCoins on Non EMI spends on Tata Neu as well as partner Tata brands.
It offers four complimentary domestic lounge access each calendar year.
It provides 2,000 rewards points on the anniversary to the cardholders.
It provides fuel surcharge waiver of 1% at all petrol pumps across the country.
It offers eight complimentary visits each year to domestic VISA lounges in India.
Eligibility to Apply for a Co-branded Credit Card
The eligibility criteria for co-branded credit cards vary for each card and for each bank. Listed below are the basic eligibility criteria set by most of the banks:
Applicant should be an Indian citizen
Salaried or self-employed
Should have a good credit history (Not applicable for first time borrowers)
Minimum age of the applicant should be 21 years and maximum age is 60 years
Documents Required to Apply for a Co-branded Credit Card
The required documents to apply for a co-branded credit card are mentioned below. While applying for a specific bank, it’s recommended to check the bank’s website for specific documents as required by the bank.
Copy of identity proof such as Aadhaar card, passport, etc.
Copy of address proof document such as Voter’s ID, Aadhaar, driving licence, electricity bill, passport, etc., whichever holds your current address
Permanent Account Number (PAN) card copy
Two months salary slips or Income Tax (IT) Returns
Duly signed in application
One passport size photograph
If you aren't sure which co-branded credit card to pick, visit neutral financial advisory websites like Bankbazaar and choose from a wide range of co-branded credit cards available in the market.
You can apply for a co-branded credit card by visiting the respective bank’s website or through an authorised third party website such as BankBazaar. While the specific bank’s website allows you to access its own credit cards, websites like BankBazaar allow you to find credit cards offered by various banks and financial institutions, enabling you to compare and find the best product available in the market. Let’s look at the process to apply for a co-branded credit card online.
Apply Through Bank's Website
As mentioned above, you can visit the respective bank’s website to apply for a co-branded credit card. However, before applying for one, go through various credit cards offered by the bank and choose one that suits your requirement. Once, you selected the card, follow the instructions below to apply for it online.
Steps to apply for a co-branded credit card online
Visit online website of the respective bank
Go to the co-branded credit card page
Click on ‘Apply’ button
You will be redirected to an online application page, where you need to enter all the required details before submitting the form
Upon successful submission of the credit card application, the system will generate an application reference number, which should be retained for future queries, if any.
The bank, after receiving the application, checks your eligibility for the applied card and if your profile meets the eligibility, you will be informed about further application process through phone call or e-mail.
Banks typically take seven to ten days to process a credit card application, provided the applicant clears the verification checks and meets the eligibility criteria. If you wish to check your application status, you can use the track application feature available on most bank websites to know how far the bank has processed the application.
Apply through BankBazaar website
BankBazaar is one of the authorised service providers of financial products. It partnered with more than 50 banks and features most of the financial products offered by the banks on its online platform. By providing comprehensive coverage about each credit card product, the company provides an unbiased platform to compare and shop for various financial products.
Applying for a co-branded credit card through BankBazaar is also simple and convenient. You can visit the online website or download the mobile app to apply for any credit card listed on the site. A detailed procedure to apply for a co-branded credit card is provided below.
Steps to apply for a co-branded credit card through BankBazaar
If you’re eligible, you will be taken to an online credit card application page, where you need to enter all the required details and click on ‘Submit’
As soon as you hit ‘Submit’, an ‘Application ID’ will be generated confirming the submission of application. The application ID can be used to know the status of your application through BankBazaar’s ‘Track Application’ feature, which is available on the website as well as on the app.
FAQs on Co-Branded Credit Cards
Which is the latest co-branded card launched in the market?
The latest co-branded card to hit the market is the FinBooster: YES Bank - BankBazaar Co-branded Credit Card.
How long does it take to get my application approved?
Banks would usually take around seven to ten working days to fully process your application for a credit card.
Is it easy to get these co-branded credit cards?
Yes, you can easily apply for any co-branded credit card of your choice through the bank’s website. Once you fill in a form and submit it, your application will be processed.
What are the eligibility criteria for applying for a co-branded credit card?
You need to be a citizen of India, a salaried person, should have a good credit score and be between 21 and 60 years of age.
AU bank and ixigo join hands for launch of co-branded credit card
On Thursday, 2nd November 2023, AU Small Finance Bank & Ixigo launched premium co-branded ixigo credit card. This credit card offers discounts up to 10% on ixigo bus, flight and hotel bookings. It also comes with exclusive benefits customised for train travellers to make their travel more rewarding. Zero payment gateway chargeson twice-monthly train bookings and reward pointson all offline and online purchases.
3 November 2023
Reliance retail joins hands with SBI for launching credit card
Reliance Retail has partnered with SBI card, which is one of the leading players in the credit card industry. The new Reliance SBI Credit Card is a co-branded card that offers a variety of rewards and benefits to the cardholder during their transactions in Reliance Retail stores.
Reliance SBI Cards will offer exclusive rewards based on your spending habits. These include special welcome perks, personalised travel and entertainment benefits, and even spend-based milestone rewards like Reliance SBI Renewal Fee Waivers and Reliance Retail Vouchers. There will be two variants of this co-branded offering, that is, Reliance SBI PRIME and Reliance SBI.
2 November 2023
Indian Bank teams up with OneCard for mobile-centric co-branded credit cards
Indian Bank and OneCard have come together to introduce co-branded credit cards that are contactless. This innovative financial product is made possible through OneCard, a mobile-centric metal credit card managed by FPL Technologies in partnership with issuer banks. Through this credit card, users can exercise digital control via a user-friendly mobile app, enabling them to monitor transactions in real time, oversee expenditures, convert payments into EMIs, and redeem rewards—all from within the app itself. Notably, the card comes with features such as lifetime validity, the absence of initial or annual fees, and a firm focus on simplicity, transparency, and empowering customers. Indian Bank's partnership with fintech firms underscores its dedication to technological progress and elevating the overall customer experience.
6 September 2023
India's first co-branded hotel credit card launched by HDFC Bank
HDFC Bank in partnership with Marriott Bonvoy has launched India’s first co-branded hotel credit card, Marriott Bonvoy HDFC Bank Credit Card. The card operates on the Diners Club platform and is packed with travel benefits that offer various benefits entitled to Silver Elite Status with Marriott Bonvoy, such as bonus points, priority late checkouts, exclusive member rates, and other perks.
Per Rs.150 for spending at participating Marriott Bonvoy, eight Marriott Bonvoy points will be earned, and two Marriott Bonvoy Points for all other eligible purchases apart from rentals, fuel, and wallet reload. On eligible travel, dining, and entertainment transactions, four Marriott Bonvoy points will be earned per Rs.150 for up to Rs.5 lakh per month. The card also offers complimentary personal air accident insurance coverage and complimentary access to domestic lounges every year.
The card offers a free night award valued at up to 15,000 points as a welcome benefit for new cards or card renewals. The value of this award can be enhanced by utilising up to 15,000 Marriott Bonvoy Points. The card offers Silver Elite Status along with ten elite night credits annually. For every Rs 150 spent on Marriott Bonvoy hotels (excluding Homes and Villas), cardholders will earn eight Marriott Bonvoy points for monthly expenditures of up to Rs.10 Lakh.
24 August 2023
Tiger Fintech and IndusInd Bank have launched a co-branded credit card
On Thursday, IndusInd Bank and Tiger Fintech, a Bajaj Capital Group company, announced the introduction of the IndusInd Bank Tiger Credit Card, a co-branded Visa credit card. Customers will now have access to the finest credit cards that suit their lifestyle needs, according to a statement from IndusInd Bank. It has perks such as the 'Magnificent Rewards Program,' which allows users to receive up to 6X accelerated rewards. Customers can convert their rewards points into air miles and benefit from a 1.5% foreign currency markup on international purchases. The IndusInd Bank Tiger Credit Card comes with complimentary benefits such domestic and international airport lounge access, 24/7 concierge service, golf games and lessons, and more.
4 August 2023
HDFC Bank collaborates with Swiggy to unveil a co-branded credit card
Swiggy and HDFC Bank have joined forces to introduce a co-branded credit card, powered by Mastercard's payment network. The card's rollout will occur gradually within the next 7-10 days, and eligible customers can apply for it during this period. The new Swiggy co-branded credit card has attractive benefits, such as 10% cashback on food delivery, grocery delivery, and dining out. The cashback rewards will be provided through Swiggy Money. Swiggy aims to attract more customers and stay ahead of its competitor, Zomato. They are responding to customers' demands for rewards and benefits on their spending. This move is part of Swiggy's strategy to strengthen its position in the food delivery industry, where it competes with Zomato and other emerging players like ONDC. Swiggy is also expanding its presence in the food and grocery retail market, as evident from its recent acquisition of LYNK Logistics. Additionally, the company announced a $50 million ESOP liquidity program.
27 July 2023
Every transaction made with a Kotak Myntra Credit Card is eligible for a discount of up to Rs. 750.
A discount of up to Rs.750 will now be available to customers who have signed up for the Kotak Myntra Credit Card on each purchase made with the card. The bank also stated that there is no minimum purchase requirement for customers to take advantage of this incentive.
The introduction of the co-branded card on 1 June 2023 was announced today by Kotak Mahindra Bank in collaboration with Myntra. The use of this credit card is appropriate for those who enjoy buying online.
Either the Myntra website or the Kotak Mahindra Bank website can be used to complete the hassle-free online application process for the Kotal Myntra Credit Card. Both organisations' mobile apps offer the ability to complete the application procedure.
Customers of this co-branded customer can benefit from a discount of up to Rs. 750 as well as other perks like free access to Myntra Insider and 5% cashback on all purchases done through any of the platforms - PVR, Cleartrip, Swiggy, Swiggy Instamart, and Urban Company.
Customers of this credit card will instantly join Myntra Insider, the company's loyalty program, and they will also get a free Rs. 500 e-voucher.
The Kotak Myntra Credit Card has an annual cost of just and a registration fee of Rs.500 only.
The Myntra Co-branded Credit Card, the first of its type in the market, will be targeted at fashion shoppers in metropolises, tier-1, tier-2, and tier-3 cities, building brand recognition and stickiness.
The MasterCard and RuPay networks will support the Kotak Myntra credit card.
1 June 2023
HPCL and IDFC First Team up to Launch Co-Branded Fuel Credit Card
In order to introduce a co-branded fuel credit card on the RuPay network, IDFC FIRST Bank and HPCL have joined forces. It will consider a variety of customer needs related to mobility (and beyond), including those related to fuel, utilities, leisure, and a variety of alluring merchant offers. IDFC FIRST Bank, HPCL, and RuPay are supporting the government's Make in India program through this partnership.
4 April 2023
New credit card launched for Flipkart Wholesale online spending
A new co-branded credit card was launched on 15 March 2023 by HDFC Bank and the omnichannel B2B platform of the Flipkart Group, Flipkart Wholesale. This credit card will be available for Flipkart Wholesale members and will provide them with 5.00% cashback. Co-branded credit cards can be applied from the Best Price Flipkart Wholesale app and the Flipkart Wholesale stores. These cards will support small merchants and Kirana by optimising transactions, thereby boosting digital payments.
16 March 2023
IndianOil and Kotak Mahindra Bank introduce a co-branded fuel credit card
On 10 March 2023, Kotak Mahindra Bank Limited and Indian Oil officially launched a co-branded fuel credit card. It can be accessed through the RuPay network. Holders of this credit card can earn reward points when filling up at any IndianOil gas station in the country. According to a bank statement, these reward points can be used at IndianOil gas stations to get free gas.
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