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HDFC Bank launches Visa Signature Card
HDFC Bank on Monday launched its first ’super premium’ credit card, the Visa Signature Card, with a credit limit of Rs. 3lakh and upwards. Parlay Mondal, Country Head, Retail Assets and Credit Cards, HDFC, told reporters here that “We see the numbers of Indian millionaires increasing ; they were looking for something beyond the ‘gold’ or ‘platinum cards’ to much their lifestyles and frequent travels overseas. We now have 3.5 million card holders off categories and expect close to one per cent to opt for the Signature Card over the next few months.”
Shantanu Mukherjee, Country Manager, South Asia of Visa International, said, “We chose Bangalore as the obvious launch pad for the largest group, top corporate executives like access to the top golf clubs in the country that these cards offer”. The Signature Cards come with features such as discounts at 28,000 hotels and resorts worldwide, access to business lounges at international airports and no surcharge on purchases at petrol outlets. The cards do not come cheap; the joining up fee is Rs.9,999 and renewal fee, Rs. 2,999; access to HDFC’s own 1,605 ATMs and others with whom the bank will have tie-ups and associations for discounted air fares. MR. Mukherjee said there were over 58 million Visa card users in India.