Top 12 Credit Card Companies in India

Credit Card Companies in India

In India, the credit card market is expanding quickly. A “credit card” is a physical or digital payment method with a pre-approved credit limit that may be used to make purchases and request cash advances in accordance with certain terms and restrictions.

The credit card business has undergone many new changes and advancements as a result of the expansion of the digital world and the acceptance of contactless payment. Credit card issuers are doing everything possible to increase innovation and awareness in this particular market, from streamlined application processes to personalised offers and rewards.

Here’s information on the most well-known credit card companies in India, which not only provide the best credit cards but also have offerings in nearly every area, including eating, entertainment, shopping, lifestyle, and travel. Let’s explore the portfolio of these credit card providers to locate a variety of credit cards.

12 Key Credit Card in India

HDFC Bank Credit Card

In addition to being one of the biggest private banks in India, HDFC Bank also dominates the market for credit card offers. With over 1.70 crore active credit cards as of September 2022, HDFC Bank is thought to be the largest card issuer in the nation. As of July 2022, the RBI estimates that HDFC Bank has a 28.4% market share in credit card spending.

The most widely used HDFC credit cards in the market are:

  • HDFC Bank Infinia Credit Card.
  • HDFC Bank Diners Club Black Credit Card.
  • HDFC Bank Regalia Credit Card.
  • HDFC Bank Millennia Credit Card.
  • HDFC Bank Diners Club Privilege Credit Card.
  • HDFC Bank MoneyBack Plus Credit Card.

State Bank of India (SBI) Cards

One of India’s biggest public sector banks, the State Bank of India (SBI), provides cards and other payment services under the SBI Card brand. In 2020, SBI Card, a non-banking financial enterprise, held its first public offering.

It is one of the second-largest card issuers in India and provides a wide range of cards, including business, lifestyle, rewards, retail, travel, and fuel cards. Customers of SBI benefit from its extensive global network as well.

The following SBI credit cards are the most widely used ones on the market:

  • SBI Elite Credit Card.
  • SBI Card PRIME.
  • SBI Simply Click Card.
  • BPCL SBI Card.
  • SBI Simply SAVE Card.
  • BPCL SBI Credit Card.

Axis Bank Credit Card

After HDFC Bank and SBI Card, Axis Bank is the third-largest credit card issuer in the nation. Following its merger with CitiBank, Axis Bank has acquired various specialised activities as well as Citi’s upscale and premium credit card business.

According to the demands and requirements of its clients, Axis Bank offers a wide range of credit cards, from entry-level to business class categories. The bank offers a variety of credit cards, some of which are ideal for frequent shoppers, others for moviegoers, and yet others for frequent travellers. Additionally, a number of perks are provided by Axis credit cards, including waivers of fuel surcharges, discounts on eating and shopping, free cinema tickets, and free access to domestic and international airport lounges.

The most popular Axis Bank credit card available in the market are:

  • Axis Bank ACE Credit Card.
  • Flipkart Axis Bank Credit Card.
  • Axis Bank Vistara Credit Card.
  • Axis Bank Neo Credit Card.
  • Axis Bank My Wings Credit Card.
  • Axis Bank Select Credit Card.

ICICI Bank Credit Card

In terms of revenue and market capitalization, ICICI Bank is the second-largest private sector bank in India. ICICI Bank offers credit cards that are appropriate for many types of spending categories, from eating and shopping to watching movies and travelling. The bank also provides a strong rewards programme and a wide range of credit cards with no annual charge, including the ICICI Platinum Chip and Amazon Pay credit cards.

The following are the top-selling ICICI Bank credit cards on the market:

  • ICICI Sapphiro Credit Card
  • ICICI Coral Credit Card
  • ICICI Rubyx Credit Card
  • ICICI Platinum Chip Credit Card
  • Amazon Pay ICICI Credit Card
  • ICICI Bank HPCL Super Saver Credit Card

IDFC First Bank Credit Card

Following the merger of IDFC Bank and Capital First Bank in December 2018, IDFC FIRST Bank was established. Credit cards are among the numerous services and goods the bank provides. It entered the credit card market in 2021 and developed credit cards for both high-end consumers and the general public.

One of the most well-known credit card issuers in the nation, IDFC FIRST Bank is well-known for providing premium cards with high benefit levels and low fees.

The following credit cards from IDFC First Bank are the most often used ones:

  • IDFC FIRST Millennia Credit Card.
  • IDFC FIRST Wealth Credit Card.
  • IDFC FIRST Select Credit Card.
  • IDFC FIRST WoW Credit Card.
  • IDFC FIRST Classic Credit Card.

American Express Credit Card

American Express, sometimes referred to as AmEx, is a global corporation with headquarters in the United States. Around the world, it is well-known for its premium credit card services. Since every payment is handled through its own network, the AmEX is also renowned for having a sizable credit card network. AmEx entered the Indian market in 1993 and quickly rose to become one of the country’s most exclusive credit cards.

AmEx has a number of credit cards with special features on several categories, including reward programmes, travel, movie and dining bonuses, and more.

The following American Express credit cards are the most often used ones:

  • American Express Platinum Card.
  • American Express Platinum Reserve Credit Card.
  • American Express Gold Card.
  • American Express Platinum Travel Credit Card.
  • American Express SmartEarn Credit Card.

Bank of Baroda (BoB) Credit Card

Bank of Baroda (BoB), one of India’s largest public sector banks, provides a variety of premium and basic credit cards in addition to a number of unique cards in order to meet the demands of all customers. Numerous incentives, like welcome bonuses, cheap membership costs, and high rewards rates, are included with BoB credit cards.

The following are the most widely used BoB credit cards on the market:

  • BoB CMA One Credit Card.
  • BoB Eterna Credit Card.
  • BoB Premier Credit Card.
  • BoB Select Credit Card.
  • IRCTC BoB RuPay Credit Card.
  • BoB Prime Credit Card.
  • BoB Easy Credit Card.
  • BoB Sentinel Credit Card.

AU Small Finance Bank Credit Card

In April 2017, the newly formed Indian private sector bank AU Small Finance Bank was established with the goal of assisting low- and middle-income individuals.
The bank also offers small and medium-sized businesses with all the necessary banking and financial instruments in order to meet their demands and requirements.

They only provide a small selection of credit cards, ranging from basic to premium. All four cards provide a staggering number of advantages, from foreign travel to supermarket shopping. With their Altura, Altura Plus, Vetta, and Zenith Credit Cards, one may take advantage of a wide range of lifestyle perks.

IndusInd Bank Credit Card

One of India’s major lenders to the private sector is IndusInd Bank. Indulge and Pioneer Heritage credit cards, both of which feature distinct advantages across various categories, are two of the several premium credit cards that the bank offered when it first started offering credit card services back in 2013.

The bank now provides over 15 credit cards, ranging in category from entry-level to most premium. By paying for utility bills, insurance premiums, rent, and other expenses, cardholders can accrue reward points.

Below are some of the credit cards from IndusInd Bank that are the most popular:

  • IndusInd Bank Legend Credit Card.
  • IndusInd Bank Pioneer Heritage Credit Card.
  • IndusInd Bank Celesta Credit Card.
  • IndusInd Bank Indulge Credit Card.
  • IndusInd Bank Pinnacle World Credit Card.
  • IndusInd Bank EazyDiner Credit Card.
  • IndusInd Bank Legend Credit Card.
  • IndusInd Bank Signature Visa Card.

RBL Bank Credit Card

One of the Indian private sector banks, Ratnakar Bank Limited (RBL), is well renowned for its customer-focused philosophy. The bank consistently prioritises its clients, even when it comes to credit cards, and offers them a vast selection of credit cards to satisfy all of their needs. RBL now offers more than 40 credit cards, giving users a wide range of possibilities.

The following list includes the top RBL credit cards:

  • RBL ShopRite Credit Card.
  • RBL World Safari Credit Card.
  • RBL MoneyTap Black Card.
  • RBL Platinum Bonus SuperCard
  • RBL Icon Credit Card
  • BookMyShow RBL Credit Card

Yes Bank Credit Card

One of the major participants in the Indian banking industry, Yes Bank is renowned for providing first-rate credit card services. Credit cards from Yes Bank provide perks such fuel surcharge waivers, welcome gifts, reward points, cashback, milestone and vacation incentives, and annual fee waivers depending on spending.

The following are the most popular credit cards from Yes Bank:

  • Yes Private Prime Credit Card.
  • Yes First Exclusive Credit Card.
  • Yes First Preferred Credit Card.
  • Yes Premia Credit Card.
  • Yes Prosperity Edge Credit Card.
  • Yes Wellness Plus Credit Card.

Standard Chartered Bank Credit Card

London-based One of the biggest international banks and credit card issuers in India is Standard Chartered Bank. Standard Chartered, a foreign bank, is the second-largest player in India’s credit card market behind AmEx. Additionally, it provides a wide variety of credit cards across all categories, including premium, lifestyle, and travel.

The following Standard Chartered Bank credit cards are the most widely used:

  • Standard Chartered Ultimate Credit Card.
  • Standard Chartered EaseMyTrip Credit Card.
  • Standard Chartered Super Value Titanium Credit Card.
  • Standard Chartered Platinum Rewards Credit Card.
  • Standard Chartered Smart Credit Card.
  • Standard Chartered DigiSmart Credit Card.
  • Standard Chartered Emirates World Credit Card.

Growth Credit Card In India

India continues to be a market with low credit card penetration, with just a small portion of the population having a credit card. By creating a number of incentives and raising awareness of the usage of credit cards, card issuers are undoubtedly attempting to improve this situation. Because of this, despite the Covid-19 epidemic and RBI limitations on credit card issuers, the amount of credit cards issued has showed a respectable rising trend over the years, as seen in the table below.

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