Credit Card Data June 2023 | Total Spends, Total Active Credit Cards, Etc | RBI

[shsinha]

very interesting. Did not expect IndusInd lead in spending per card. Indusind has large number of credit card variant, but leading in the spending per card is interesting..

 

[Survivor35]

The number may be different when we compare by card vs account spent

 

[DevD]

The number may be different when we compare by card vs account spent

It's only for credit card spends not for accounts

 

[Survivor35]

It's only for credit card spends not for accounts

i meant segment wise like visa/master/amex (breakout)

 

[bholurdp1]

Strange to see IndusInd is above HDFC and AMEX in terms of spending per card. Who is spending that much on IndusInd 🙄

 

[starstruck]

Strange to see IndusInd is above HDFC and AMEX in terms of spending per card. Who is spending that much on IndusInd 🙄

I think the below factors contribute in Indusind's case:

1. Since IndusInd allows only 1 credit card per person mostly, the spends is not divided across multiple credit cards in one account. For example, in Axis, if a person has 3 cards and then all their spends with the account will give a reduced number (Spends/3) even if they dont use 2 of them especially if LTF.
2. Indusind is also not very attractive in terms of rewards, so not many people like to pursue them for more than 1 card. People in this community are the exception who go after them for more than 1 card.
3. Indusind also takes a hefty fees for high end cards and then give value back to customers in form of vouchers. This fees also pushes the numbers up.