In another attempt to tap the growing travel segment in India, HDFC Bank Ltd. on Aug. 1 launched a new range of travel-themed credit cards.
The Mumbai-based issuer designed the cards primarily for high income consumers in India.
HDFC will issue three versions of the cards, Regalia, Superia and Platinum Edge, which will be available on both Visa and MasterCard platforms, a customer service representative for the bank tells PaymentsSource.
With all three cards, cardholders will receive many travel-related offers and discounts and an air miles system that will enable them to redeem accumulated miles for flights on various airlines.
The Regalia card provides cardholders with an exclusive website to book air tickets and bookings, according to the representative. The Superia card will cater to the higher middle class Indian traveler, while Platinum Edge is for the budget traveler, acccording to the representative.
Customers pay 9,999 rupees (US$220 or 150 euros) to receive a Regalia card and pay an annual fee of 4,999 rupees; they pay no initial fee for Superia and Platinum Edge cards, which come with respective annual fees of 3,499 rupees and 1,999 rupees, she says.
The bank expects 80% of new applicants for the cards to come from existing customers, its initial target audience, according to a news release.
HDFC, which says it had 5.05 million credit cardholders as of the end of March, recently also launched a super-premium credit card call the Infinia, which comes with no credit limits (
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