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.
E-commerce giant Flipkart and Axis Bank have launched a co-branded credit card which offers unlimited cashback on your transactions.
With a fee of Rs.500, this card gives you 5% unlimited cashback on Flipkart, 2GUD, and Myntra transactions. All other transactions earn you an unlimited cashback of 1.5%.and a four free visits to airport lounges in India each year.
The key features of a few popular co-branded credit cards have been explained below:
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
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
State Bank of India offers the SimplyCLICK SBI Card in collaboration with Amazon India, Cleartrip, LensKart, FabFurnish, BookMyShow, Foodpanda and Ola Cabs. The annual fees and joining fees charged for the SimplyCLICK SBI Card is Rs. 499. The annual fee will be waived off if the previous year’s purchase is more than Rs. 1 lakh. No fee is charged for add-on credit cards.
Features & Benefits
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
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
The JetPrivilege HDFC Bank World Credit Card has been introduced as part of the JetPrivilege program and HDFC Bank. Customers can earn EXTRA JP Miles using this card. The annual fees and the renewal fees charged for the JetPrivilege HDFC Bank World Credit Card is Rs. 2500. Annual fees will be zero until the customer is a member of the JetPrivilege Platinum tier.
Features & Benefits
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 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
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:
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.
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.
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.
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 7-10 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.
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.
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.
The charge for the extended credit for this card is 3.35% per month.
The latest co-branded card to hit the market is the FinBooster: YES Bank - BankBazaar Co-branded Credit Card.
Yes, there is a First Citizen Citi Credit Card with which you can earn 7 reward points every time you spend Rs.100.
Banks would usually take around 7-10 working days to fully process your application for a credit card.
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.
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.
Snapdeal and BOB Financial Solutions collaborated with National Payments Corporation of India (NPCI) and Japan’s JCB International Co. Ltd. have launched the “Snapdeal BoB JCB RuPay Credit Card”. The co-branded credit card users will get up to 5% unlimited cashback on the Snapdeal app and website. The card also offers 10 Reward points per ?100 spent on online, grocery and departmental store spends.
5 September 2022
Following the announcement of the partnership between Tata Neu and HDFC Bank on 24 August 2022, two credit cards have been launched, the Tata Neu Infinity HDFC Bank Credit Card and Tata Neu Plus HDFC Bank Credit Card. Individuals can use the credit cards both in India and abroad and reward points can be earned for both in-store and online spends.
25 August 2022
Indian army personnel can now apply for a co-branded credit card called Yoddha co-branded Rupay Credit Card launched by Bank of Baroda (BoB) in partnership with the National Payments Corporation of India (NPCI).
The card will have contactless features and will come with a host of benefits such as personal accident insurance cover, fuel surcharge waiver, etc.
24 August 2022
EazyDiner and IndusInd Bank joined hands to launch a tailor made co-branded credit card EazyDiner IndusInd Bank Credit Card. The credit card comes with a EazyDiner Prime membership that offers users to discounts of up to 25% at select restaurants.
22 July 2022
EaseMyTrip and Standard Chartered Bank announced a co-branded credit card on Tuesday. This credit card provides a 10% discount on domestic and international flight tickets made through the EaseMyTrip website or mobile app, as well as a 20% discount on domestic and international hotel bookings.
Through this co-branded credit card, cardholders will be able to earn accelerated reward points on booking flights and hotels through independent airline and hotel websites and apps. Cardholders will be able to visit one domestic lounge every three months and two international lounges each year.
20 July 2022
Nainital Bank and BOB Financial Solutions Limited jointly launched the Nainital Bank – BoB co-branded Contactless RuPay Credit Card (BFSL). The card, which is being launched in Nainital Bank's 100th year, aims to reward customers for ordinary purchases like groceries and retail items. Spending with the Nainital Bank – BoB RuPay Contactless Credit Card will result in 5X, or 5 reward points, for purchases in supermarkets, department stores, and theatres (every Rs.100 spent). For every Rs. 100 spent on any other purchases, cardholders will receive one reward point. Additionally, when purchasing fuel, cardholders will have access to a 1 percent Fuel Surcharge Waiver.
20 June 2022
A co-branded credit is being launched by HDFC bank and Retailio in collaboration. Through this collaboration, HDFC bank is looking forward to expanding into the pharma sector.
25 May 2022
BFSL and HPCL has joined hands to launch BoB HPCL co-branded contactless RuPay Credit Card. Spending on utilities, groceries, and department stores earns you faster rewards. The JCB network allows you to use this card at shops and ATMs all over the world.
24 May 2022
SpiceJet, an Indian airline, has teamed up with Axis Bank, India's third largest private sector bank, to launch the most lucrative co-branded Visa credit card, which will provide consumers a variety of benefits and perks. SpiceJet Axis Bank Voyage and SpiceJet Axis Bank Voyage Black credit cards are designed to improve travellers' travel experiences by allowing them to join SpiceClub, India's first frequent flyer program.
15 May 2022
Mahindra & Mahindra Financial Services Ltd is going to enter the lucrative credit card market after a recent rule implemented by RBI. Mahindra Finance is exploring the possibility of introducing a credit card for its customers as well as employees.
6 May 2022
Fintech companies betting on co-branded credit card fear that RBI rules on credit card issuance will cut off their access to customer transaction data. The role of a co-branding partner entity is limited to customer and marketing acquisition under the guidelines.
2 May 2022
On Wednesday, HDFC Bank and Shoppers Stop introduced a new range of co-branded credit cards. These credit cards will be available to more than 8 million Shoppers Stop and HDFC Bank 'First Citizen' customers. The co-branded credit cards are designed to give a more convenient shopping experience.
Over the next five years, HDFC Bank and Shoppers Stop hope to source over one million cards through this partnership. Customers can choose between two co-branded credit cards: Shoppers Stop HDFC Bank Credit Card and Shoppers Stop BLACK HDFC Bank Credit Card. These co-branded credit cards come with a host of benefits such as Shoppers Stop points (SSP), a fuel surcharge waiver, access to over 1,000 airport lounges around the country, insurance coverage, etc.
30 March 2022
The ICICI bank announced on 23 March 2022, that it will be launching a co-branded credit card in collaboration with Chennai Super Kings (CSK). The card has been designed to give special benefits to the CSK fans.
24 March 2022
SBI Bank and Nature's Basket are coming together to add to the bank's robust premium portfolio with the new credit card, ‘Nature’s Basket SBI Card’. The credit card will cater to the gourmet taste of a lot of premium customers in India.
23 March 2022
The collaboration Kotak Mahindra Bank and Indian Oil will aid Indian Oil and Kotak Mahindra Bank in expanding their brand reach and increasing consumer engagement. Indian Oil's approximately 33,000 fuel outlets accept credit card, debit card, and wallet payments in excess of 98% of cases.
9 March 2022
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