Which Bank’s Credit Card Users Spend Most? No, It’s Not HDFC, ICICI, SBI!

Which Bank's Credit Card Users Spend Most? No, It's Not HDFC, ICICI, SBI!
Which Bank’s Credit Card Users Spend Most? No, It’s Not HDFC, ICICI, SBI!

Normally, when we think about credit cards, the first few names that come to mind are HDFC Bank, State Bank of India, Citi, Axis Bank, ICICI Bank and perhaps even Kotak Mahindra Bank. 

But you will be amazed to know that none of these credit card issuers have the most valuable credit cardholders

Most Valuable Credit Cardholders In India

Not only that none of them rank in the top five when it comes to two critical metrics.

Here critical metrics are the most valuable customers in terms of both value per transaction, and value per cardholder.

Basically the data released by the Reserve Bank of India shows that Citi India,  usually considered as having the most valuable credit cardholders in India and is the eighth on the list.

Surprisingly, the topper in both the lists is IndusInd Bank as it processed nearly Rs 5,700 crore worth of credit card transactions in the month of March 2022. 

Now, this pales in comparison to market leaders like HDFC Bank and State Bank of India. 

It also shows that the quality of credit cardholders of IndusInd Bank is relatively better.

Apart from this, the value per cardholder metric is also important. 

As it shows how much each card holder was worth in March 2022.

HDFC Bank Continues To Assert Its Dominance

 When it comes to the overall market share, HDFC Bank continues to assert its dominance, with 22%.

It is noteworthy here that the three out of every four credit cards come from these top five credit card issuers in India.

With this, the total value of transactions, though, HDFC Bank cornered 27% market share.

That means that every Rs 1 out of Rs 4 credit card spends were made using an HDFC Bank credit card.

The list also has IndusInd bank albeit at the fifth place with a share of a mere 5%.

If we understand the volume of transactions, on an average, Indian credit card users spend Rs 14,500 per month. 

Notably, a major part of those spending is done on the online transactions.

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