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Credit Card Data June 2023 | Total Spends, Total Active Credit Cards, Etc | RBI

very interesting. Did not expect IndusInd lead in spending per card. Indusind has large number of credit card variant, but leading in the spending per card is interesting..
 
Strange to see IndusInd is above HDFC and AMEX in terms of spending per card. Who is spending that much on IndusInd 🙄
I think the below factors contribute in Indusind's case:
  1. Since IndusInd allows only 1 credit card per person mostly, the spends is not divided across multiple credit cards in one account. For example, in Axis, if a person has 3 cards and then all their spends with the account will give a reduced number (Spends/3) even if they dont use 2 of them especially if LTF.
  2. Indusind is also not very attractive in terms of rewards, so not many people like to pursue them for more than 1 card. People in this community are the exception who go after them for more than 1 card.
  3. Indusind also takes a hefty fees for high end cards and then give value back to customers in form of vouchers. This fees also pushes the numbers up.
 
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