Make The Most Of Your Money With Co-Branded Cards

Has there ever been a time when you were unable to buy something because you could not afford it at that time? Or when you had to restrain yourself from making travel plans due to a budget constraint?

These are the times when a co-branded card can come in handy. Co-branded cards cater to people who love to invest in areas of interest like shopping, dining and travel. 

A co-branded card is like your usual credit or debit card issued in partnership with your favorite brand or merchant. It comes with added benefits ranging across high cash back offers, special rewards, discounts and EMIs. By offering these benefits to brand-loyal consumers, brands and merchants can strengthen brand preference and influence buying choices. 

Today, co-branded cards are available across multiple sectors such as travel, telecom, retail, entertainment and are issued on a partnership between a leading merchant (such as Zomato, Flipkart, Indigo, Vistara) and an issuer bank.  These cards are also branded with the partner logo in addition to the bank logo. 

All the reward points that accrue to a card holder on the card usage are redeemable at the partner brand. This hassle-free redemption process helps you form a long-standing relationship with your preferred brand. 

While acceptance of various digital payment methods has increased in India over the last few years, co-branded cards are now becoming the new go to payment method. Customers are seeing co brand cards as a smarter way of shopping due to the exclusive cash back, discounts and other rewards earned across each transaction. Apart from upfront cash back and discounts, spends help cardholders accumulate valuable loyalty points that can be redeemed on the partner brand.

Co-branded credit cards are recording 2-7 times higher spends as they appeal to consumers who have an affinity for spending in certain categories. Since every co-branded card has a unique rewards program, it is key for consumers to pick a card(s) with the right mix of hard and soft benefits. 

If co-branded card(s) are selected appropriately and used well, they can be significantly rewarding through cash backs, reward points, discounts, free vouchers, complimentary tickets and a plethora of other lifestyle benefits (i.e. complimentary access to various golf courses and airport lounges). 

In order to maximize your benefits, you must ensure that you opt for the right co-branded card and always redeem the accumulated reward points and free vouchers before they expire.

As digital payments becomes consumers’ primary choice this festive season, they can experience a multitude of lucrative cashback deals, exclusive discounts and other loyalty benefits on various co-branded card programs by Mastercard; including the Flipkart Axis Bank card, IKEA family credit card by Citi, Indigo HDFC Bank Card, Vistara SBI card, Zomato RBL Bank card and many more.

So it is time for you to stop worrying over budgets and start shopping your heart out whilst making the most of your money!

The author is Vice President, Business Development, South Asia, Mastercard