IndusInd Bank launches credit card for rich customers

Private sector lender IndusInd Bank announced its tie-up with American Express to launch IndusInd Bank Iconia American Express Card for its affluent customers.

The card offers reward points and lifestyle benefits such as golf, entertainment, travel and dining.

For every Rs 100 spent by the customer, a reward of 1.5 point on weekdays and of 2 points on the weekends will be awarded to the customer on his card. These points can then be redeemed for cash credit at full value, i.e, a rupee for each reward point and for partner air miles.

The mid-sized bank entered the credit card business after acquiring Deutsche Bank’s loss making credit card business from its Indian operations in 2011 for a little more than Rs 224 crore.

Anil Ramachandran, Business Head, Credit Cards, IndusInd Bank said, “Our partnership with American Express is based on our mutual belief and commitment in bringing unparalleled value to our customers. The IndusInd Bank Iconia American Express Credit Card will provide customers with a world-class opportunity to extract the best out of life”.

beena.parmar@thehindu.co.in

Source: thehindubusinessline