In March, online credit card spending surged past Rs 1 lakh crore for the first time, hitting Rs 1,04,081 crore, marking a 20% rise from March 2023 and a 10% increase from February 2024. This reflected a growing trend of using cards for smaller purchases. HDFC Bank led the market share at 20.2%, followed by SBI, ICICI Bank, Axis Bank, and Kotak Mahindra Bank.
Banks like HDFC Bank, American Express, Axis Bank, etc. allow you to transfer credit card reward points to hotel loyalty programs like Marriott Bonvoy, ALL, Club ITC, etc. You can further use hotel loyalty points for free hotel stays during your vacation.
Deepak Shenoy’s tweet comes after HDFC Bank released its first quarterly earnings following the merger of HDFC Bank with parent HDFC (Housing Development Finance Corp) in a $40-billion deal.