Hdfc Bank Launches Credit Card With Visa

HDFC Bank today launched its international credit card in association with Visa. The HDFC Bank silver international credit card will ensure that the bank is now able to offer its customers the whole gamut of services.

HDFC Bank managing director Aditya Puri said, "The credit card was one product that was missing from our portfolio. That gap has now been filled. We now have a good product, a card that people can carry, flash and use and rely upon."

Uma Krishnan, country head, retail branch banking & credit cards, HDFC Bank, said the credit card business has a lot of potential, especially in the smaller towns and cities. "In fact, even in the metros only the surface has been scratched, and the market is growing," she said.

The bank is expected to capitalise on its 1.75 million customer base and rapidly grow its credit card market.

The global card comes with a comprehensive insurance cover package which covers the cardholder against loss of life in air or rail or road accidents, and hospitalisation insurance in case of an accident.

The card also offers purchase protection on goods purchased on the card and customer liability will be zero in case the customer loses the card. In a unique offer two reward points will be offered for every Rs 100 spent on the card.

Utility payments and tele ticketing for rail and air ticket booking will also be facilitated by the bank for card holders. Interest rates will be 2.95 per cent the first year and 2.50 per cent from the next year for customers who continue to retain the card.