Upcoming New Credit Card Launches in India (2020 & 2021)

By | October 12, 2020
Upcoming New Credit Card Launches in India

Now and then we get to see rumours of various new credit card launches in India. So I thought why not make a list of them so that readers get to have a clear picture of what’s about to happen to the future of credit cards in India.

Here is the full list of such rumours, imaginations and also some confirmed credit card launches that we could expect to go live in 2020 and 2021.

Disclaimer: You’ll see source if its a confirmed plan. If you don’t see a source to any mentioned product, it means its a rumour or just my daydream.

DBS Bank

DBS Bank India

The Development Bank of Singapore (DBS) with its parent company headquartered in Marina Bay, Singapore in 2019 said they will launch their credit card products in India sometime in 2020.

Given that DBS has good experience in handling affluent customers in Singapore, I’ve very high hopes for some good premium & super-premium credit cards for India from DBS.

  • Expected: Mid 2020 (delayed and may come around early 2021)
  • Source: “We will launch our credit card by the second, or the third quarter of next year,” said Shantanu Sengupta, head of consumer banking for DBS in India on the sidelines of a banking industry event in Mumbai. – Mint, Aug 2019 

Federal Bank

Federal Bank India

Federal bank currently issues credit cards in partnership with SBIcard for now. And they are expected to come with their independent cards soon.

Federal Bank has been doing pretty good recently when it comes to cards, for ex, even their recently launched contactless debit cards comes with international lounge access which is one of a kind on a debit card.

That said I’m pretty sure they must be having solid plans for credit cards, likely to be issued on Mastercard platform.

  • Expected: May-Aug 2021
  • Source: “In next 9-12 months we are looking at a launch of an independent credit card. There is an expectation that the new normal should settle down in India by then,” said Nilufer Mullanfiroze, country head for deposit, cards and personal loans – PTI, Aug 2020



After seeing SBICard’s recent partnership with American Express, its very clear that they will have a Super premium credit card on American Express network as Amex has one each with ICICI & IndusInd. Let’s hope this comes out with promising benefits.

That aside, we may expect one or two new co-brand credit cards from SBICard every year as they’re very much interested in that space.

  • Expected (assumption): Maybe early 2021, as demand for these cards are low at the moment due to Covid-19.
  • Source: “Premium segment remains a key focus area for us and we seek to further expand our strength in the space, by launching new products, including in super premium segment.” said Ashwini Kumar Tewari, MD and CEO, SBI Card – BusinessLine, Sep, 2020


HDFC Bank India

Co-Brand Airline

As spotted by few of our readers, one of the updated credit card MITC shows the new airline co-brand credit card named: HDFC Bank Emirates Skywards Diners Club at a fee of Rs.5000+GST.

I’m sure Emirates is a wonderful option for international travellers as almost everyone who fly to west from my circle, especially to USA prefer emirates.

So that’s definitely a good partnership. But well, whether we will get attractive rewards or not is the main question. We may need to wait a while for that.

  • Expected (assumption): Early 2021, as there is no demand for international travel cards at the moment due to Covid-19.

Super Premium

Its been more than 5 years since Diners black and Infinia were launched. A lot has changed recently and HDFC too optimized the products a bit to fit into the current needs of customers.

But HDFC doesn’t have a competing product for a card like Amex Platinum or even centurion. So i’m hoping for a new Super-Premium luxury credit card with benefits and privileges in line with Amex Platinum and hoping for a relatively low fee.

While this is more of a daydream, I think a card like that would be great as most HNI’s I know usually have Infinia + Amex Platinum. So if HDFC can offer what Amex offers, I think it would work out well.

  • Expected (assumption): Maybe in 2021 or later.

American Express

American Express India

Co-brand airline: Vistara

As Jetairways co-brand card is out of picture, currently Amex must be loosing a lot of revenue on that segment and I’m sure they should be working on something.

Thinking about that, Vistara is a perfect co-brand partner to fill the space. They recently came up with the ability to transfer Amex points to Vistara, so Vistara card is highly expected from Amex.

If not, they may even go for Singapore airlines as that would not only cover SA but also vistara. Let’s see what they’re coming up with.

  • Expected (assumption): Mid 2021, as there is no demand for travel cards at the moment due to Covid-19.

Co-brand hotel: Marriott

Marriott Credit card is a long due for India and I’ve been hoping this to happen since past 3 years. Maybe the SPG merger and all that could have delayed this a bit but now as Marriott too is running on low revenue, this may likely be the best time for Marriott to launch their credit cards in india.

Moreover, Marriott is getting good interest in India recently as I see they’re actively promoting Marriott Bonvoy on IPL 2020. So that’s a good sign to give life to this imagination.

  • Expected (assumption): Maybe in 2021 or later

Reserve (Refresh)

American Express Reserve is the topmost premium “credit” card with Amex India but its unbelievable to see such a low rewarding card to be placed at that position.

The newly added monthly vouchers and Taj Epicure benefit may give some value, but its still not an attractive product in my eyes in the current trend.

  • Expected (assumption): It may get minor or major refresh in 2021 or hopefully sooner.


While 2020 is unfortunetly a bad year for everyone, I think it has definitely given a LOT OF TIME for credit card product managers to pause and think, create new products for a better future, perhaps a better India.

So even-though 2020 is not great when it comes to credit card products & offers, I’m expecting 2021 to see strong rebound in terms of new credit card product/feature offerings.

What’s your thoughts on the upcoming credit cards in India? Feel free to share in the comments below.

Author: Siddharth

I love credit cards, enjoy travelling for free using reward points & airmiles. Obsessed with business class cabins, airport lounges and luxury hotels.

34 thoughts on “Upcoming New Credit Card Launches in India (2020 & 2021)

  1. Prateek

    Apparently everything except AmEx have possibilities. SBI has more changes, next is Fed. Will look forward to SBI Card.

    AmEx cannot dare launch a card with their pathetic acceptance and trashy cushtumber care (it’s an intended spelling err)

  2. Captain Bishuddha Bharatiya

    Axis Bank has launched Ace credit card which gives 2% unlimited cashback on almost all spends. 2% cashback is much high in comparison to Infinia cash redemption. It’s one of the best cashback credit card of India. Kindly review it.

  3. Varun Ravichandran

    One big name in the banking space is ICICI, but their portfolio of cards (credit AND debit) is horrendous to say the least. What gives? Are they just not trying to compete in this space?

    1. Siddharth Post author

      Their Amazon Pay credit card is doing wonders, so maybe they’re celebrating that and forgot their premium customers 😀

      1. Kishor Sapkale

        Amazon pay credit card is seemingly useless
        The best card for Amazon is simply click sbi card
        Which gives 2.5% cashback with it’s 10x reward points
        That gives it a total of 7.5% unlimited Cash that’s huge
        These things even SBI employees don’t know lol

  4. Pinank

    AU Bank is also setting up a team for Credit cards right now. They might launch it in late 2021.

  5. Purnachand Valluru

    Hi Siddharth,
    I wondering if you can do an article regarding “Debit Cards with International Lounge Access”. On top of my mind there is citi bank debit cards but also after your mention of federal bank this made me think what are the other hidden gems with these perks 🙂

      1. Purnachand Valluru

        Hi Siddharth,
        The link you put in here only has the debit cards with domestic/International lounge acces inside India. I was talking about debit cards you can use for entering lounges in foreign countries. Like you mentioned federal bank debit card and some citi bank debit cards also have the same feature without using priority pass.

  6. Kishor S

    I’m soo much waiting for DBS credit cards
    The banking experience with them has been amazing
    I wish to get more of it via credit cards
    Hopefully they bring something that would disrupt the already stale credit card industry in India

  7. Dheer Khemani

    The Amazon Credit Card is one of the best I’m using it no doubt it gives you unlimited 5% cashback from Amazon. I hope HDFC gives some good options this time since its a market leader and specially relaxing their stupid CC process which is unnecessary

  8. Amitabh Maheshwari

    Standard Chartered must completely overhaul their Ultimate Card. They should introduce 10X rewards, conversion of reward points to cash, seamless booking of flight tickets and hotels with reward rates, waiver of annual fee on milestone spends and milestone spend bonuses. They should also provide unlimited airport lounge access. Unless they do all this, their card will not become popular. Even welcome bonus should be less restrictive

  9. N.srinivadgoud

    Credit is something u give an opportunity to use our spending capacity to enhance it our way u don’t need any other conditions like CIBIL ,bank statement ,etc.if a person without any CIBIL score or bank statement ,not possessing of any other credit cards are also shall be given the credit cards some times such persons who ever may be spoiled by maligned transactions does not have to wait for two years to recorrect the credit histroy but the banks has identify such accounts wihch perhaps has cleared all previous debts with good intention shall also given an opportunity to have a credit card.

  10. Sunny

    Amex definitely stands apart from the cards mentioned, i am 8 year old customer and have never faced any challenge and have gained multiple rewards as part of Point redemption and their Taj stays. I think it was good move for SBI to partner with Amex to tap into “Super Rich” segment,

  11. AM

    Waiting for the DBS card hope they will come up with something interesting but knowing their services I have doubt

  12. Prateek Mittal

    I am using HDFC Diners black. My petrol expense is 10k per month. What is the best way to pay at petrol pump?

      1. Devaraj

        But hpcl gift card always out of stock and it’s acceptance is very low only in very few big petrol pumps

    1. satish singh

      Go for CITI IOC card. 2.67% of return as fuel on all Indian oil outlet. No other card is better for returns on fuel. If you spend 30000 in a year annual fee of 1000 is waived. So suitable for your need.

      1. Prashant Gupta

        Citi indian oil is worst. As i have already posted many times they are not posting correct points now. Amex Icici hpcl
        Coral is best with 4% return till spends of Rs4k after that its 1.5%.

        1. Gouri Shankar Yadav

          Use RBL TravelEasy Supercard for 10% cashback (upto 400 per month) on fuel. Spend 1L in a year and get voucher worth 1000 and annual fee of 999+GST waived off. ERR comes to be ~7%.

  13. Rex

    You totally forgot İdfc First banks upcoming card.
    It is something to look forward.

    1. Siddharth Post author

      I’m only looking forward for their shares to go up, for now 😐

  14. MAA-traveler

    I won’t have any high hopes on DBS credit cards. I follow a couple of Singapore based credit card blogs and their card offerings are not so good.

  15. Gopal Gidwani

    You may add IDFC First Bank to the list. Few months back, I saw recruitment ads for their credit card team on LinkedIn. So a credit card may be coming from IDFC First Bank.

  16. ND

    Thanks Sid. Of all this, my wish list ranks Amex Marriott cards on top. Could be best in 2021.

    High time they bring this to India too.

  17. SK

    Wish HDFC should launch a more exclusive credit card much in the hype of Centurion and unlike Infinia which I guess is fully exploited in it’s exclusiveness…

  18. Abhi

    Paytm has announced new launch of credit cards, with an aim to reach 20L ‘young’ users in a year.

    Their statement says:
    Paytm Credit cards will have a transparent & compelling rewards program with assured cashback on every transaction. The accrued rewards point will have no expiry and users will also be able to utilize those for various payments in the Paytm ecosystem. Since the cashback will be received directly in the form of Paytm Gift Vouchers, they can be spent anywhere. It will also give great lifestyle benefits for the users in the form of discount vouchers & complimentary memberships across travel, entertainment, food, and many such categories.

    1. Siddharth Post author

      Their Citi partnership did not work out the way they thought. Hence they seem to explore other issuers.

  19. SK

    Being bored from Infinia LTF since last six years, HDFC must come with a more exclusive product much in the hype of Centurion by keeping the eligibility super high with low fees or low eligiblity with very high fees, I guess that what’s AMEX does with the Platinum Charge Card, as Infinia is already an exploited product in my sense…


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