NEWS & ADVICE : CREDIT CARDS
How to select a co-branded credit card?
By Ankit Sharma
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Credit cards have been increasingly gaining importance as well as acceptance amongst Indian customer. There are various credit cards available for customers in the market. With each passing day, there are different varieties of credit cards launched in the market, and this has often resulted in creating confusion amongst prospective customers.

Among the various categories of credit cards available in the market, co-branded credit cards are one such category whereby two brands get together and launch a credit card under the common brand name.

What are co-branded credit cards?

Co-branding is essentially two major brands converging to enhance the usefulness and image of the product. In case of a credit-card, it is a partnership between the credit card issuer and a retail service-provider or a goods provider to meet customer demand more efficiently. The card would have both the bank name and the service provider's name on it.

Many co-branded cards are also rebate cards that provide the consumer with benefits. In most cases, these credit cards can be used just like a regular credit card and they offer benefits to users like special discounts, etc.

Today co-branded credit cards are available for a large number of sectors including retail, entertainment, travel and telecom. Recently, Barclays and Yatra Online announced a co-branded credit card which is specially designed for the consumers in the fast growing online travel segment.

Some co-branded credit cards offered by banks:

ICICI Big Bazaar Gold Credit Card

The card comes as an association of Big Bazaar and ICICI Bank. It offers the card holder benefits like zero finance charges on EMI purchases at Big Bazaar. The card holder can pay off a purchase of Rs 1500 and above in three equal monthly installments. And the EMIs will be without any finance charges.

Along with this, the other benefit enjoyed by the card holders includes 6 reward points for every Rs 100 of purchase at Big Bazaar. Gift vouchers worth Rs 250 are also available which can be redeemed against purchase of Rs 500 or more at any Big Bazaar outlet.

Customers get special priority during high traffic and there are special counters for cardholders. There are comprehensive travel benefits and zero lost card liability.


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