Skift Take
While there are several co-branded credit cards offered by airlines and hotels, banks releasing travel-focused core credit cards indicates a shift in consumer preference and the rising popularity of travel credit cards in India.
The Skift India Newsletter is your go-to platform for all news related to travel, tourism, airlines, and hospitality in India.
India’s largest bank State Bank of India (SBI) has launched its first-ever travel focused credit card. ‘SBI Card MILES’ has been launched in three variants to cater to different types of travelers, from beginners to frequent flyers.
"Indian travelers are large global spenders and with increased and more robust travel plans, consumers are looking for curated benefits to enhance their travel experiences," said Abhijit Chakravorty, CEO of SBI Card.
Rise of travel credit cards in India: Travel credit cards are rising in popularity in India. Card services company Visa in its report released in December 2023, stated that 95% of Indian travelers select credit cards for international travel, driven by features such as travel miles, cashback, rewards, and high limits on spending. Travel credit cards were the fastest growing category in 2023, with a year-on-year demand increase of 27%, according to a report by fintech platform ZET.
Several brands are coming up with travel credit cards. Last year, Marriott launched India’s first-ever co-branded hotel credit card in collaboration with HDFC Bank. S