Outlook Money
Credit cards are emerging with several features and rewards these days.
These credit cards are issued with partnerships between banks and companies or service providers that are well known.
There are partnerships between banks like HDFC Bank, ICICI Bank, and SBI Card, Amazon, IRCTC, and airlines, such as Air India, to offer co-branded cards.
1. Reward Earning: There are options to earn points, cashback and rewards with the co-branded credit cards.
There are other benefits like special discounts and offers, brand-specific rewards and exclusive invitations.
The drawbacks of the co-branded cards include annual fees and restricted rewards.
Other drawbacks include the higher interest rates and the impulse spending risks.
These cards are suitable for people who buy and use specific brands or services frequently.