HSBC Corp. Ltd. is working with MakeMyTrip, one of India’s major travel booking sites, to launch a cobranded credit card targeting India’s consumers who frequently travel, the issuer announced Jan. 30.
The Visa-branded card is available in Signature and Platinum variants, according to the bank. Both cards come with discounts offered on booking travel tickets with MakeMyTrip, a Mumbai-based customer service representative tells PaymentsSource.
The key difference between the two card types is in rewards and fees.
The Signature card offers 10 reward points for every 100 rupees [US$2 or 1.5 euros] spent on MakeMyTrip and four points with other merchants for the same spend, according to the representative. Additionally, cardholders get 15 points per 100 rupees if the monthly spend on MakeMyTrip exceeds 50,000 rupees.
Conversely, Platinum cardholders earn five reward points for every 100 rupees spent on MakeMyTrip and 1.5 points with other merchants for the same spend, she adds.
“While the Signature card would come with an annual fee of 3,499 rupees, the Platinum card would be available for a much lesser 499 rupees,” the representative says, noting both cards come with joining offers.
Signature cardholders get MakeMyTrip discount vouchers worth 8,500 rupees, and Platinum cardholders receive discounts vouchers of the same kind worth 5,500 rupees, she adds.
Signature cardholders also get seven domestic flight-ticket vouchers upon joining, and an additional two vouchers on annual spend exceeding 400,000 rupees.
Platinum cardholders receive two such vouchers upon joining and one additional voucher on annual spend exceeding 100,000 rupees, according to the representative.
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