HDFC 1st to reach 2cr Credit Cards.
Fastmover advantage was with SBI and ICICI.
29% market share of spend 21% CC volume share.
Do u have 1 HDFC card in wallet?
I don't have one, but own 7 CCs.
My first was HDFC
HDFC has very ruthless targets for credit cards. Worked closely with the RMs
HDFC is a target 🎯 driven org
Their RM's are the scum of the Earth. Especially Imperia. Branch Heads, and above are no less. But I also feel bad how they end up making their own relatives, friends buy insurance, open savings accounts, just so their asses are covered.
First mover advantage.
They were aggressive in corporate banking opening salary accounts since last 10-14y. Easy to lend CC to salaried class. Made a huge brand which kept their momentum going.
SBI fucked it up despite having largest base of Govt employees as salary acct. But the SBI cards moves in last 6y have been a great unexpected comeback.
Biggest fuckup is Amex India. I feel as if they are just loitering away without any focus. Won't be surprised if they exit India.
Oh Sed. I thought slice and other fintech bros would have gotten it first ;-))
I feel their product quality has been deteriorating over the past 18 months, will have to see if there's any slowdown down the line