You might have seen the logo of a brand on a credit card and wondered what does it mean. Some people might also misunderstand it as a gift card of that brand, but it is actually a credit card because gift cards don’t have the logos of a bank or a card network on them. Whenever you see such a card, it means that it is a co-branded credit card that is issued by the bank in partnership with that particular brand. Many of you might have heard of the term ‘co-branded credit card,’ but a lot of people are not aware of what these are. We are here with this article to make you understand all about co-branded credit cards, how they, their benefits, and everything you should know. Keep reading:
What Are Co-Branded Credit Cards?
Co-branded credit cards are the cards that are a result of a partnership between a card issuer, a brand, and a card network. These are brand-specific credit cards that are aimed at providing exclusive benefits to the customers who are loyal to a specific brand. Some brands tie up with banks and offer exciting deals on credit cards to attract more and more customers to their products.
How Do Co-Branded Credit Cards Work?
Co-branded credit cards are very similar to standard credit cards. There may be or may not be an annual fee. The only difference is: there is a brand’s logo along with the card issuer’s logo on a co-branded credit card whereas, on a standard credit card, there is only a logo of the card issuer and not of a particular brand. These cards are made specifically to provide benefits to their customers on a particular brand. These cards may have various benefits, but they will be most beneficial for the purchases made on a particular brand. For example, if a credit card comes co-branded with Amazon, then it will earn you reward points on all the categories, but you will get a lot more rewards and benefits on Amazon. Similarly, if you have an intermiles co-branded credit card, it will benefit you most in the travel category.
Advantages of Co-Branded Credit cards
You Can Save a Lot – A co-branded credit card can be very beneficial for people who are loyal to a particular brand and make purchases very often through it. For example, if you always purchase fuel from a BPCL station, you must look for a BPCL co-branded credit card, such as BPCL SBI Card Octane. Similarly, the customers who are loyal to IOCL can get an Indian Oil co-branded credit card as it will help them save a lot on their fuel purchases.
Co-Branded Credit Cards Are Generally Pocket-Friendly –Most of the co-branded credit cards come with a low or an average joining fee so that everyone who wants to have it, can afford it. So, you need not worry about the charges and go for a co-branded credit card if you make frequent purchases from a particular brand. Some of the best co-branded cards even come with a zero annual fee, such as Amazon Pay ICICI Credit Card & Flipkart Axis Bank Credit Card. You can read more about these cards below.
Top Co-Branded Credit Cards in India
Amazon Pay ICICI Credit Card
Whenever we talk about the best co-branded credit cards in India, the name of the Amazon Pay ICICI Credit Card is always on top. Not just because it provides its customers with really exciting privileges, but also because it comes with a zero annual fee and customers can enjoy all its benefits without paying any charges. Following are some of its key benefits:
- Get an Amazon Pay balance of Rs. 300 – Rs. 600 as a welcome benefit.
- Amazon Prime members get a cashback of up to 5% on their purchases.
- Non-prime members get a cashback of up to 3%.
- A discount of 15% or more on dining.
- 1% fuel surcharge waiver across all fuel stations in India.
Flipkart Axis Bank Credit Card
The Flipkart Axis Bank Credit Card is also among the most popular co-branded credit cards in the country. Being a lifetime free credit card, it attracts many Flipkart users and provides them with really exciting benefits. Even after being a zero annual fee credit card, ie welcomes its customers with benefits worth Rs. 2,500, which is one of its key features. Here is a list of some of its most exclusive advantages:
- Get a 15-month Gaana Plus subscription (worth Rs. 1,300) at a discounted price of Rs. 399 only.
- A discount of 15% on the first transaction on Myntra and a 20% discount on Plumgoodness & The Phy Life.
- A cashback of 5% on all purchases on Flipkart & Myntra.
- 4% cashback on Swiggy, Uber, Cure.fit, and PVR.
- 1.5% cashback on all other spends.
- 4 complimentary domestic lounge access every year.
- 1% fuel surcharge waiver.
BPCL SBI Card Octane
The BPCL SBI Card Octane is among the most popular fuel credit cards in India. With a joining fee of Rs. 1,499, it provides its customers with up to 25 Reward Points on every Rs. 100 they spend using it. Other than exclusive fuel benefits, this card comes with benefits in other categories, including travel, movies, dining, etc. Check more benefits of this card below:
- Get a welcome bonus of 6,000 Reward points.
- 25 Reward Points on every Rs. 100 spent at BPCL stations.
- 10 Reward Points on every Rs. 100 spent on departmental stores, movies, and dining.
- 1 Reward Point on every other spend of Rs. 100.
- 4 complimentary domestic lounge access every year.
Co-branded credit cards can be very beneficial for people who are loyal to a particular brand and want to save more on their purchases. These cards don’t only provide you with exciting benefits on a brand but also on different categories. Moreover, one of the most amazing this about these cards is: they generally come with a low annual fee so that maximum people can enjoy their benefits. So, you should analyze your spending habits and if you spend a lot on any specific brand, get a co-branded credit card to earn maximum benefit.