HDFC has launched its first co-branded credit card with Mariott Bonvoy. The bank introduced it in order to capitalise on consumer sentiments of "Revenge spending" following the epidemic and because domestic and international travel and spending on those trips increased following the pandemic. The network partner for this card is Diners Club International. According to Parag Rao, country head of payment business, consumer finance, technology, and digital banking at HDFC Bank, the card intends to improve the experiences of its clients by "offering exclusive benefits, rewards, and seamless access to Marriott International's award-winning travel program."

This is their second co-branded card this fiscal year. Earlier in July, HDFC had also launched a co-branded credit card with delivery platform Swiggy. The launch of co-branded credit cards from SBI, ICICI, Yes Bank, HDFC, Axis Bank etc has gained momentum after the pandemic in India. HDFC has launched several co-branded since the lifting of the RBI ban on the bank on launching new credit cards and digital payments products, which came in December 2020. Notable among them, besides Swiggy, are cards launched in partnership with IRCTC, Shoppers Stop, and Tata Neu, among others. Since then, HDFC has regained its market share in the credit card space and is currently number one with over 17 million users.

Average monthly spending through credit cards has doubled in three years from Rs 60,000 crore a month in FY'19-20 to Rs 1.2 lakh crore a month in FY'22-23, the Reserve Bank of India data indicates. The value of transactions touched a record Rs 1.4 lakh crore in June this year. Credit card usage has surged to a record, but what is driving it is not consumption but the reward points and freebies associated with card spend the reward points and freebies associated with card spending that is driving it; experts say The HDFC Marriott Bonvoy card will give its customers a Silver elite status in the Marriott Bonvoy programme, complimentary access to 24 airport lounges in India and worldwide and complimentary personal air accident insurance cover, among other perks.