IndiGo and HDFC Bank are all set today to make a big reveal on February 27, 2020, for something that has been cooking for a while between the two mega entities. IndiGo is the most significant domestic airline in India, and HDFC Bank is the most significant private bank and card issuer in the country, so you can put two plus two together. The brands have made it pretty apparent that it will be something to relate with a credit card, given there is MasterCard involved as well.
I can sense the excitement in the air! Cheers to stronger beginnings! 🕺🕺🕺@HDFC_Bank @mastercardindia #KachingUp #Kaching
— IndiGo (@IndiGo6E) February 27, 2020
Not the first time a no-frills airline is launching a co-brand credit card. Back in 2009, SpiceJet and SBICard came together to launch a co-brand card, which was quietly retired later. In the case of IndiGo’s new product, I have so many questions. Questions like is it just a cashback card, or will there be miles involved. Questions like do you get free sandwiches and extra bags on IndiGo for holding this card, and so on. The answers will be revealed tonight, at the launch event for the product.
It is an exciting time for the airline to get into this niche as India’s most significant co-branded card partnerships have started to fall through, with the disintegration of Jet Airways. IndiGo has the financial muscle, and HDFC Bank has the distribution muscle to make this card a success. There are co-brand products for Air India and Vistara, but the customer bases of these two are pretty big and will have a different appeal perhaps to the user base. And this will add more muscle to the IndiGo P&L over a while. I must say the timing is very strategic because the market is no longer looking at JetPrivilege to lead the market.
What do you think is up on offer? Let’s wait for Kaching.
2 variants of card have been launched. Higher rewards on 6E spends, more rewards on other purchases, 6E prime membership, lesser convenience fee et al.
It seems that 6E is starting a rewards program after all.
It is hence time for HDFC to rethink their 1 card policy per customer
It’s been extended to 2. I hold a DCB and an RF.
They don’t have an one card policy. I have been using two of their credit cards since a few years.
If only!!!