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Premium credit cards show 100% growth

Premium category credit cards have seen 100 per cent growth on a year-on-year basis. Some senior bankers expect it to grow at over 50 per cent against expected growth of 25-30 per cent for regular credit cards

Apnaloan.com Research Bureau

23 Aug 2007

Premium category credit cards have seen 100 per cent growth on a year-on-year basis. Some senior bankers expect it to grow at over 50 per cent against expected growth of 25-30 per cent for regular credit cards.

Premium category cards are credit cards with higher credit limits and some additional benefits to attract high-end customers. The spend-pattern on such cards is usually higher than the normal credit card portfolio of banks.

As of now, these cards account for less than five per cent of the total card base, but the spend and income generation from such cards are more than 10 per cent.

Interchange fee is paid by merchant-acquiring banks to card holder-issuing banks in order to cover the cost to convert a charge on a card-holder's card to a cash deposit at the merchant business checking account, including cost factors such as billing services, credit and fraud risk, profit, etc.

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