Credit Card Issuers..Wake UP

Are we only going to see credit cards for the ultra-rich and wealthy? Where are the co-branded credit cards that we all desperately want and need? Something like SBI Kingfisher or HDFC D-Mart.

Nowadays, all we see are high-priced, fancy credit cards with luxurious benefits, honorable partnerships, and dark aesthetic looks. Some offer helicopter transfers, while others can get you to Antarctica (honestly I couldn't be bothered to go to Shimla in winter). Weren't credit cards supposed to be tools for rewards and benefits for everyone? While banks are busy creating new, shiny credit cards made from expensive materials, the average Indian is left using a Swiggy credit card for his dal, roti, and pizza. Yes, the average Indian can have Pizza its 2024.

The cycle of credit cards has become so complicated that many of us now face spend-based criteria for airport lounge access, which, let’s be honest, most of us shall only use once a year, if that. Free airport lounge access became a burden for banks because the user base was so large so they outright started removing them or restricting them.

Banks and issuers didn't just stop there they started putting caps on rent, fuel, and utility payments. Most of us, all of us, a vast majority of us do not have that kind of money. We do not spend 50K on fuel or rent. We pay our rent in cash because our landlord demands it in cash. Its like all banks in India are on Twitter and think all of us have 400,000 AmEx points for vacations. Wake the hell up and start giving out 5% off Kiryana stores, start bringing up good offers on phones, and other things that matter.

Slowly and steadily credit cards are being made out to be all about travel, point redemption, and large collections. Where are all of us? Why is no one showcasing their new MoneyBack+? How come each and every one of us is after Infinia? Also, why are people interested in Infinia Reserve? Controversial Opinion. SMARTBUY is practically useless since it marks up the rate.

No ICICI, no AMEX I do not need a discount on Apple because my local shop is offering a far better price than any credit card or Image store can get me.

While the masses deal with devaluation notices in the middle of the night, the wealthy and popular are inviting themselves to exclusive, invite-only credit cards.

Soon, we will all reminisce about the days when credit cards were made of metal. At this rate, they may soon come in silver, platinum, diamond, or gold. While there is a side that is crying over the income tax rate there are our dear marketing teams that simply cannot stop coming up with ideas that cater to the Richie Richs of the world.

They say the process of credit never goes away, but I certainly hope the obsession with the rich and famous does.