The bank website has been revamped and details about soon to be launched credit cards have been added. Bookmyshow had already given a hint that launch was just round the corner.
Affiliation with MasterCard
Different variants are (Yes Prosperity prefixed to all)
Joining and annual fees varying from 250-1500( no free card, spends based waivers only)
Normal offers like the ones to which we are used to like one card offering 5% cashback restricted to 100 per month in each category of grocery, bill pay and movies, nothing revolutionary. BMS 25% discount with limitrd quota on the premium variant.
Forex conversion fee 3.4-3.5%, so nothing great on that front either.
Revolving credit charges 2.4% for savings account holders ( can apply while opting for card if you dont have one)
Reward program without any exciting features. No truly accelerated rewards, just an illusionary offer which offers higher points on international spends. Airport Lounge access enabled by MasterCard based on the category of card.
I can’t find any factor which will enable the bank to acquire a decent customer base with these features. But I m sure existing bank account holders will initally be offered these cards for free.