Hdfc Bank Credit Card Segment

HDFC bank has been a leader when it comes to private sector banking identities. The bank which is known for its undying dedication towards its clientèle is also hailed for offering range of banking facilities. Operating with state-of-art-banking techniques, the bank has been fantastic whenever it comes down to rendering banking solutions in the most convenient and affordable fashion.

Like all its services, the bank also has a magnificent credit cards portfolio. Credit card, as many of the people might know, is a sort of pecuniary instrument that serves people by offering credit at the time when they need the most. Also known as 'plastic money', credit cards rose to fame in early 2000s when it was known as a financial instrument intended exclusively for business class people and for those who are from rich and well-to-do family class. However exactly speaking the idea of credit cards were conceptualized to cater to the business needs of enterprises and sole-proprietors.

But as competition grew, numerous changes saw credit cards becoming suitable for upper middle class and sections other than that. However, with emergence of debit cards, the somewhat popularity levels start dropping and soon they went out of trend and got confined back to the same class for which they were meant for. Later when liquidity crisis surfaced, scenario became worse from bad for credit card issuance authorities. Almost every credit card provider be it Axis Bank, ICICI or any other country bank, they all took thrashing at the hands of the crisis, leading to a complete whitewash of it.

However even when crisis was going great guns, it was only HDFC credit cards segment that continued to churn profits. HDFC gold credit card specially fared better than all its competitors. The card, even in the time when maintaining liquidity levels for banks was proving to be a tough ask, provided customers 5 percent cash back on booking of air-tickets. The card also proved to be a 'blessing in disguise' for people who had expensive hotel bills to their name and was provided with discounts on total expense. The 5 percent cash back scheme was also applicable on the train ticketing.

With its worldwide acceptableness trait, carrying this card to any part of the world is always useful. In addition to it, the user of this HDFC gold credit card also becomes suitable for exceptional offers from HDFC bank. There is also a rewards point redemption scheme on this card. Beside it the card-owner also get a chance to get prizes through this scheme. What more the user gets an additional exactly-same add-on card just in case if he/she misplaces it.

Meanwhile there is one more credit card product that has been doing great business for the bank. It is the HDFC silver credit card. This card is a useful weapon that can provide for all kinds of expenses for its users. Its excellent 'earn while you spend' scheme lets user become entitled gifts and other prizes at the same time when he or she uses it.

However if the card-user has a habit of suffering from 'getting lost' woes then the HDFC silver credit card comes with 3 more extra cards which help him in battling with such situations. Even if the card-user misplaces it, he holds zero financial obligations for the card. Last but not least, the card's global acceptance feature makes it a worthwhile item to carry whenever the card-owner pay visits abroad.

By: paisa

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