Credit Card Industry

Luxury travel credit cards offer elite benefits such as global lounge access, low foreign exchange fees, and high-end concierge services to clients who want seamless mobility & experiential privileges

The report also highlighted that private sector banks continue to dominate the credit card segment, focusing on digital and co-branded offerings for customers

An important factor contributing to this uptrend in India, GlobalData believes, is the availability of installment facilities

Credit card issuances remain flat in June 2025, with ICICI Bank and Axis Bank showing declines in card numbers, while overall spending drops sequentially

Credit card spends surged 18 per cent YoY in April but fell 8.7 per cent from March, as issuers remained cautious on new cards due to stress in unsecured portfolios

Card addition slows in FY25 following higher risk weight norm

The number of credit cards has more than doubled to around 10.80 crore in five years through December 2019 but the number of debit cards has remained relatively stable, says a Reserve Bank report released on Monday. The report also said digital payments in India have grown exponentially in the last decade. While in calendar year (CY)-2013 there were 222 crore digital transactions valued at Rs 772 lakh crore, it has increased 94 times in volume and more than 3.5 times in value to over 20,787 crore transactions valued at Rs 2,758 lakh crore in CY-2024. "In the last five years alone, digital payments in India have increased 6.7 times in volume and 1.6 times in value. This amounts to a five-year CAGR of 45.9 per cent in terms of digital payments volume and 10.2 per cent in terms of digital payments value," said the Payment System Report, December 2024. It further said at end-December 2024, the number of credit cards has more than doubled to around 10.80 crore as compared to December 201

Cards offer benefits like free movie tickets, travel rewards, points and perks

Negotiations between Apple and Barclays have been ongoing for several months, but it may still take months to strike a deal

Decline due to moderation in consumer spending; issuances come down

Before utilising multiple cards, assess your monthly income and fixed expenses to determine how much you can afford to spend

In FY24, credit card spending grew by 27.8 per cent; in FY23, spending was up 47.5 per cent; and it was 54.1 per cent in FY22

The growth of digital payments, internet services, and e-commerce has boosted the credit card industry, but EMIs for large purchases often lead young users to default

Private sector lender RBL Bank is aiming to grow its credit card portfolio "moderately" and focus on other aspects like cross-selling to customers, a senior official has said. If the industry grows at 20-25 per cent, the lender would like to increase its credit card outstanding by up to 15 per cent, its business head for credit cards Bikram Yadav said. "We would grow moderately in this segment, and we'll focus on internal unit economics and customer engagements and deeper cross-sell with them," Yadav added. Yadav, who was speaking after the launch of a dedicated offering in association with the largest oil marketing company Indian Oil Corporation, christened 'Xtra Credit Card', added that the other factors are more important than growth for the bank and its focus is on "reasonable" returns on the capital it deploys. It can be noted that the credit card segment has been under the spotlight because of the RBI's discomfort around the riskier unsecured segment growing fast. "The RBI i

The Reserve Bank of India's directive, which will go into effect in September, requires banks and non-banking financial companies to provide customers options to choose multiple card networks

Some arrangements between card networks and issuers are 'not conducive' for customers, it says

Rewards and convenience will remain the buzzword, and cards that are conveniently available digitally will be the most sought after in 2024

RBI has also allowed CoFT through card issuing banks or institutions to provide cardholders with an additional choice to tokenise their cards for multiple merchant sites through a single process.

At the end of October, Canara Bank's credit card in force was 820,672. CCSL reported a net profit of Rs 7.86 crore during the second quarter of the current financial year

On reaching the quarterly milestone, the customers are eligible for just two complimentary lounge access vouchers. Post which, the access will depend on the credit card spending of the cardholders