Times Card sees strong growth in spends with 35% YOY growth in 2016

Times Card, a co-branded credit card from Times Internet (the digital wing of The Times Group) and HDFC Bank, grew spends on its portfolio by 35% YOY in 2016 (Jan-Dec 2016).

Times Card is positioned as a lifestyle and entertainment card with exclusive benefits on categories like movies, dining, shopping, wellness and hotel stay. Launched in February 2013, it has grown rapidly to become the preferred credit card in its category in the past 4 years. The key target segment for Times Card is young working professionals in the age group of 24 to 35 years.

HDFC Bank is one of the largest issuers of cards in India, and Times Card is one of the most successful co-branded credit cards in its portfolio.

In the top 9 metro cities, the card is available in two variants exclusively on the MasterCard platform, the Platinum and the Titanium. Both the variants provide 25% discount on movie tickets and up to 20% discount on dining at select restaurants. Additionally, the Platinum Card offers 3 reward points for every expenditure of INR 150 and a Weekday Dining Bonanza, where one can earn 10 reward points on every INR 150 paid for dining on weekdays. The Titanium Card gives 2 reward points for every spend of INR 150 and a Weekday Dining Bonanza of 5 reward points on every INR 150 spent for dining on weekdays.

The Platinum card is available with an annual fee of INR 1000, and Titanium with an annual fee of INR 500.

 Talking about the success of the Times Card, Avinash Agrawal, COO, Times Cards said, “Times Card is a credit and payment instrument for the young professionals. This customer segment values our merchant partnerships that promise fun experiences and high living standards within their budgets. Our strong partnership with HDFC Bank, exclusive co-branded on-ground promotions and brand marketing initiatives have helped us in accelerating the growth and appeal of the Times Card brand.”

 
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