Yes bank airport lounge devaluation


i ahve yes properity recieved this mail , its useless card anyway it further sink into  , look at their language Unlocking complimentary Lounge Access has never been easier

-I have to 'UNLOCK' my 'COMPLIMENTORY LOUNGE ACCESS ' and that has made 'EASIER' by imposing a unrequired spend OF RS. 35000 per F*-quarter?

-i mean WTF ? i cud spend that amount on SBI cashback and have Rs.1750 as cashback to spend in airport while accessing airport loounge on its debit card for free  , even if there is money rotation option 

-YES bank is screinzophene

Dear Customer,
Unlocking complimentary Lounge Access has never been easier. Effective 1st July 2024, by spending* INR 35,000 or more in the previous quarter (21st Mar-20th Jun | 21st Jun-20th Sep | 21st Sep-20th Dec | 21stDec-20th Mar), you automatically qualify for this privilege in the subsequent quarter (1st Jul-30th Sep | 1st Oct-31st Dec | 1st Jan-31st Mar | 1st Apr-30th Jun).
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
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This is bound to happen with every other Bank due to Increase in Credit card holders/Viral Reels/Misuse of cards or Features

Just a decade ago, credit cards were a rarity, with stringent eligibility criteria But Here we are

The total number of credit cards issued increased from 4.33 crores as on 31st December 2004 to

97.9 million outstanding credit cards, with a record 1.9 million additions during the month alone As of December 2023

With such craze of these plastic cards , Credit card providers are trimming benefits

In the fast-paced world of finance, credit cards have long been our trusted companions, offering a myriad of benefits and rewards. However, if you're an avid credit card user, you may have noticed a recent trend – the devaluation of these once-lucrative benefits


In the financial year 2023, there were around three billion transactions made via credit cards across India

Credit card issuance has grown significantly in India at a compound annual growth rate (CAGR) of 20% in the last four years

Among the private sector players, HDFC Bank continued to lead with 19.81 million cards in circulation in December 2023
Other players include ICICI Bank with 16.48 million, SBI Card with 18.48 million cards and Axis Bank with 13.58 million.

While point of sale transactions dipped slightly to ~58,300.18 crore from ~59,014.93 crore in November, e-commerce payments rose to ~1.06 trillion

This represents an 81% increase in the number of active credit cards in the country

Credit card transactions in Dec 2023 reported a 32 per cent year-on-year jump from ~1.25 trillion in December 2022, reflecting a robust expansion


Along with the number of credit cards issued, the spending through them was zooming too.

Credit card spending hit a fresh record high in October 2023 when it reached Rs 1.72 lakh crore
And in the past three months, Indians have spent nearly Rs 5 lakh crore via credit cards – nearly 2% of India’s total GDP

With greater credit card adoption and rising spends, defaults are rising too
In 2022-23, credit card defaults stood at Rs 4,072 crore, which was over Rs 950 crore higher than the default of Rs 3,122 crore in 2021-22

Fun Facts - Banks in India having a networth of Rs 100 crores and above can undertake credit card business either departmentally or through a subsidiary company set up for the purpose

Key trends in the credit card space

Some of the key trends in the credit card space are analyzed below:

  • FinTech disruption: A number of FinTechs, new-age banks and original equipment manufacturers (OEMs) have entered the credit card issuance space. These players are entering into co-branded partnerships with banks and providing customers with the best in-class services.
  • Better mobile apps: Customers today expect better mobile applications with best-in-class user-experience(UX)/user-interface (UI), features and do-it-yourself (DIY) services. A number of issuers have already started working on this front.
  • New risk models: Card issuers are exploring various new credit risk models apart from the traditional credit rating model. These models can cater to customers with and without a credit score.
  • Contactless payments: Customers are preferring mobile-based contactless, QR and token payments
    Fun Facts - In a research, it is found that 37 per cent of new credit score consumers are under 25.

    Who knows what future holds But for now credit card pandemic is gripping India
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Still I think rupay debit card holder can access lounges for free without any spending limit.. rupay debit card is very to easy to get from any bank

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