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    SBI Cards IPO: Here's how SBI credit cards compare with other banks' products

    SBI Cards IPO: Here's how SBI credit cards compare with other banks' products

    SBI Cards IPO: Here's how SBI credit cards compare with other banks' products
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    By Anshul   IST (Updated)

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    According to Reserve Bank of India (RBI), SBI Cards is the second-largest credit card issuer in India both in terms of numbers of credit cards outstanding and amounts of credit card spends.

    The much-awaited Rs 9,000-crore initial public offering (IPO) of SBI Cards and Payment Services is going to hit the bourses on March 2. The pure-play credit card company has set the price band for the share sale at Rs 750-755. The company is a subsidiary of State Bank of India (SBI), the country’s largest commercial bank in terms of deposits, advances and the number of branches.
    With the announcement of SBI Cards’ IPO, let’s see how SBI's credit card business compares with that of other commercial banks – such as HDFC Bank and ICICI Bank.
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    Credit card business
    According to the Reserve Bank of India (RBI), SBI Cards is the second-largest credit card issuer in India both in terms of numbers of credit cards outstanding and amounts of credit card spends.
    On the other hand, HDFC Bank has the largest credit cards business in the country with 13.3 million cards issued, while ICICI Bank stands third with 7.9 million credit cards, according to the RBI.
    Portfolio
    SBI Cards offers credit card portfolio to individual cardholders as well as corporate clients. This includes lifestyle, rewards, travel and fuel, shopping, banking partnership cards and corporate cards covering all major cardholder segments in terms of income profiles and lifestyles, according to a release issued by SBI Cards.
    HDFC Bank offers credit cards for regular salaried people, frequent flyers, students,  cautious savers, among others, according to the bank's statement. ICICI Bank also offers a range of credit cards for individual as well as corporate clients.
    Card types
    SBI Cards has a credit card portfolio that includes SBI Card- branded credit cards as well as co-branded credit cards that bear both the SBI Card brand and the company’s co-brand partners’ brands. The company offers four primary SBI Card-branded credit cards: SimplySave, SimplyClick, Prime and Elite, each catering to a varying set of cardholder needs. It also issues credit cards in partnership with the Visa, MasterCard and RuPay payment network.
    SBI's lifestyle credit card category includes SBI Card ELITE, SBI Card ELITE Advantage and Doctor’s SBI Card.  Under the rewards category, these cards are offered - SBI Card PRIME, OLA Money SBI Card, Apollo SBI Card; SBI Card PRIME Advantage, Tata Platinum Card, Tata Titanium Card, according to the bank's statement.
    HDFC Bank offers regular cards -- like the HDFC Bank Platinum Plus Credit Card. There are also three free add-on cards, which can be given to spouse, adult children, parents, brothers or sisters, the lender said on its website. As the income and needs increase, one can upgrade to a premium card like the HDFC Bank Visa Signature Credit Card, it added.
    The bank also offers super-premium cards - such as HDFC Bank Infinia Credit Card or HDFC Bank Regalia Credit Card. Co-branded cards are also offered like the Jetprivilege HDFC Bank Signature Card, Maruti Suzuki NEXA HDFC Bank AllMiles (car-related privileges), Platinum Times Card (discounts on entertainment), and Snapdeal HDFC Bank Card (online benefits).
    Some of the cards offered by ICICI Bank are Sapphiro Card, Platinum Chip Credit Card, Coral Card and MakeMyTrip Platinum Card.
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