Very Polite yes ........
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Is This the End of Credit Card Business in India for Foreign Banks?
- Thread starter TechnoFino
- Start date
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- credit card
People still use IndusInd cards? 😳
IndusInd offer high-end cards like Heritage Metal, Indulge, Celesta, Crest, Avios & crowd favourite (Eazy Diner). They provide some good lifestyle benefits (bundled) apart from high joining fees and less reward rate.
As all the cards are HNI cards they have higher spending on an average.
last month IndusInd was at top, amex at 2nd. Amex is on top this month, generally amex capture top position.
Amex particularly has failed to capture market share for two reasons
Stringent credit policy
Higher mdr.
When you charge 1% higher than your peers who have a bigger market shares merchants start keeping non amex enabled pos leading to less number of transactions.
This has specifically kept amex as a card for the elite.
HSBC and SCB were also eyeing tier 1 market but due to their basic reward structure there hasn't been much steam on it
Stringent credit policy
Higher mdr.
When you charge 1% higher than your peers who have a bigger market shares merchants start keeping non amex enabled pos leading to less number of transactions.
This has specifically kept amex as a card for the elite.
HSBC and SCB were also eyeing tier 1 market but due to their basic reward structure there hasn't been much steam on it
Main is Their Serviceable Area as i got amex approved with any income docs but they don't provide the card at my zip code.
Cards being issued is less of a problem for amex
Because their portfolio is a mix of charge and credit cards.
So even if they have 10 plat charge cards given to hni clients it makes them mdr worth 20-30 or more hdfc card transaction of a regalia card
Simply because they charge 1% extra and since they are the data aggregator and card issuer network they keep a bigger split of the mdr compared to visa /mc cards
akshayhs
TF Legend
AMEX doesn't mind if they aren't able to get more swipes at stores to be honest. They are concentrating on a well balanced portfolio of clients and they will only serve them no matter what. I am quite surprised they bend backwards with regards to approvals in tier 2/3 cities because based on my knowledge and observation, this is a very unAMEX (if I could term it so) thing to do. I'm not saying it's a bad thing but they are certainly playing a different game in India.
Agreed it was a surprising move.But they are preffering volumes growth I guess and in tier 2 and 3 cities where amex acceptance would be way much lesser than that of tier 1 it is a cash cow for them
You can for CC against FD option
HSBC's latest change to the Cashback Card has made it really good, I'd suggest people to give it a try.
A very unique proposition of 10% CB capped at 1k CB on all dining and grocery spends online and OFFLINE. This unique benefit promotes organic spends and I personally am ending up using it over every other card I own on a daily basis for restaurants and groceries at super markets
AMEX against FD? I recently got IndusInd Pinnacle against FD as i got 8.25% FD Interest Rate + The Card.
And i got IndusInd Celesta (Amex Card) against FD
Q : I am getting SBI Prime in AMEX, so, does that count for an AMEX Card, How it can help me in the future to get an OG AMEX Card?
sare cc influencers din bhar amex referral share karte nrehte hai and amex ke 60k wale card bhi lete hai to then increase referral to 5 lac points. they will die if amex goes away
This was the first time I noticed about SBI Prime AMEX cards. And I just read the details. As per my understanding, basically SBI offers the same benefits for all three networks. But it is different for the IndusInd Celesta Card. They offer a few similar services of the AMEX Platinum credit cards.
Amex does NOT issue cards against FD in India. So Amex against FD is not possible.
However, IndusInd issue most of their card variants unsecured as well as against FD.
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SBI Prime AmEx is NOT Amex. They are just American Express network cards & just use the Amex network for transactions instead of Visa or MC network.
Directly it will NOT. It is just like having any other credit card on visa or mc network.
Core Amex card are issued based on your income & overall credit history. So having a good payment record with SBI might help you build a strong credit profile which might help you in getting a core Amex card, but just having a card issued by some other bank on their network will not get you pre-approved or an invite for the Core Amex cards.
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