HDFC Bank Ltd. has launched a card designed for working women in India in hopes of garnering a greater share of the country’s overall credit card market, the issuer announced Nov. 30.
The Mumbai-based bank plans to begin issuing the Visa-branded card, called Solitaire Premium, at the end of December. It would offer higher reward points on purchases at women-frequented stores, discounts and other promotions, according to a press release.
Pralay Mondal, HDFC Bank retail banking head, said during a press conference announcing the card’s launch that the bank has about 6 million credit cardholders, 1.5 million of whom are women.
“We expect to add 10 million credit cards in the next two years and want the women's portfolio to significantly contribute to this with 2 million cards,” he said, adding the issuer will disclose fees and charges at a later date.
The Solitaire Premium card will come with a credit limit of at least 500,000 rupees (US$10,000 or 7,440 euros). Solitaire Again, which would have fewer perks, would carry a credit limit of 200,000 rupees.
HDFC plans to roll out new credit cards, including cobranded cards, every quarter, and it is looking to launch cards for the entire Indian family, including youngsters, in the coming months, Mondal said.
The bank this year has kept to the promise of frequent launches. In August, it launched a range of travel-themed credit cards to tap the growing travel segment in India (
In July, the issuer launched an ultra-premium credit card designed for the super rich called the Infinia credit card, which it positioned against American Express Co.’s premium cards in India (
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