Co-Branded credit card

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 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 EMI (Equated Monthly Instalment) transactions.
  • Some co-branded credit cards allow their cardholders to redeem their reward points on a 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 a 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 spending.
  • Earn 3x reward points on online grocery and online apparel spending.
  • You get 2 reward points for every Rs.200 swiped for another retail spending, 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.
  • You get a 1% waiver on the fuel surcharge when you swipe the FinBooster: YES Bank – BankBazaar Co-branded Credit Card. You will get this benefit if your transaction amount is between Rs.400 and Rs.5,000.
  • 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 cashback. The card also comes with a free monthly credit advisory on BankBazaar which will help you track your spending and monitor your credit score. The credit card also comes with a balance transfer, EMI conversion, and a pre-approved loan facility.

Features & Benefits

  • Convert all spending over Rs.2,500 into easy EMIs.
  • Xpress Cash facility for instant funds into your account.
  • Earn 5x reward points on grocery spending (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, and 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.

Simply CLICK SBI Card

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 simply click SBI Card are 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

  • These co-branded credit cards provide card users with excellent benefits on online shopping with opportunities to earn 10X rewards points.
  • simply click 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 simply click 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, and easy money and balance transfer.
  • The finance charges applicable on extended credit for the simply click SBI Card is 3.35% per month.

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 are 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, cardholders 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, an 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, and 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 purchases can get customers 1 rewards point for every Rs. 150 spent.
  • IRCTC also provides various travel offers and privileges including the 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, and easy money and balance transfer.
  • The finance charges applicable on extended credit for the IRCTC SBI Platinum Credit Card are 3.35% per month.