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 -
State Bank of India offers the SimplyCLICK SBI Card in collaboration with Amazon India, Cleartrip, LensKart, FabFurnish, BookMyShow, Foodpanda and Ola Cabs. This co-branded credit cards provides card users with excellent benefits on online shopping with opportunities to earn 10X rewards points. SimplyCLICK SBI Card can enjoy privileges like login gifts from Amazon, e-shopping rewards from all the partners, e-vouchers for milestone spends, fuel surcharge waivers and annual fee reversals when the spend exceeds Rs. 1 lakh. Other cashback offers can be got from Cleartrip, Bookmyshow, Fabfurnish and OLA. Customers can use the SimplyCLICK SBI Card across the globe at any merchant outlet. 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 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. The finance charges applicable on extended credit for the SimplyCLICK SBI Card is 3.35% per month.
State Bank of India offers the Yatra SBI credit card in collaboration with Yatra.com. 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. Customers can get 6X rewards points, fuel surcharge waivers, complimentary lounge access, add-on card feature, etc. 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 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. The finance charges applicable on extended credit for the Yatra SBI credit card is 3.35% per month.
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 1 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 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. The finance charges applicable on extended credit for the IRCTC SBI Platinum Credit Card is 3.35% per month.
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. International and domestic flight tickets bought using this card on jetairways.com can get customers a discount of 5% on the base fare. As part of enrolment benefits, customers can get a complimentary Jet Airways ticket, a discount voucher of Rs. 750 which can be used on Jet Airways, extended Miles expiry, a bonus of 5000 Miles if the spend exceeds Rs. 75,000, a first swipe bonus of 5000 JP Miles, within the first 90 days. On renewal, customers can get a bonus of 4000 JP Miles and a discount voucher of Rs. 750 which can be used on Jet Airways. The MasterCard Lounge Program also offers access to premium lounges across the country. Other benefits include JetPrivilege Tier Points, Excess Baggage Allowance, Dedicated Check-In Counter, Priority Pass Membership and fuel surcharge waiver. 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.
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. The World Select Card comes with welcome offers of 15,000 miles and 4,000 annual miles. Customers can earn 6 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, EMMI conversion facility, etc.
The Jet Airways IndusInd Bank Odyssey Credit Card has been introduced as part of the JetPrivilege program and IndusInd Bank. 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 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. The Jet Airways IndusInd Bank Odyssey Credit Card is available as Visa and American Express variants.
As welcome offers, customers can get First Use Benefit Vouchers worth Rs. 500, Shoppers Stop vouchers for Rs. 500 and Citibank Reward points for Rs. 350. Customers can earn 7 rewards points for every Rs. 100 spent using the First Citizen Citibank Titanium Credit Card. Card holders can get exclusive in-store privileges, payment counters and sale previews from Shoppers Stop. The annual fee on the car will be waived off if the customer spends more that Rs. 30,000 for an entire year. First Citizen Citibank Titanium Credit Card holders can also get attractive wellness offers from premium spas and beauty salons. Accrued First Citizen Points can be redeemed for purchases at any Shoppers Stop outlet and also on the Shoppers Stop website. Citibank offers exclusive concierge privileges, dining and shopping benefits along with the EMI conversion facility to card holders. Value added services on the First Citizen Citibank Titanium Credit Card include instant loans, EMI and easy payment options and convenient balance transfer plans for customers. The interest rate charged on the First Citizen Citibank Titanium Credit Card is 3.25% per month. No fee is charged for supplementary credit cards.
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 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.
The charge for the extended credit for this card is 3.35% per month.
Yes, there is a First Citizen Citibank Titanium Credit Card with which you can earn 7 reward points every time you spend Rs.100.
That is not a problem as you can always submit your Aadhaar card for address and identity proof.
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.
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