IMGCAP(1)]
India-based ICICI Bank says it has begun issuing a cobranded Visa platinum credit card with Singapore Airlines in India. The card is the airline's first cobranded card in India. The airline enrolls cardholders in its loyalty programs, including those that earn frequent-flier rewards, the bank says. The card has an annual fee of 6,000 rupees (US$120 or 89 euros). Generally, cobranded cards, including those tied to airlines, are becoming more common in India, Anshuman Jaswal, a banking analyst for United States-based research firm Celent LLC, tells CardLine Global. "However, in the current economic climate, potential customers might be reluctant to pay for a credit card when they get free credit cards and also can get frequent flyer miles with any airlines they fly with," he says. "While I still believe that such a card has a lot of potential, the timing might go against it." ICICI has issued some 7.5 million credit cards.
