Co-branded Credit Cards in India
Cards issued by a bank with Amazon, Flipkart, Swiggy, IndianOil, IRCTC, MakeMyTrip and other brands — how they work, what RBI requires, and when they are worth it.
Updated 30 September 2026 · 107 cards from 17 issuers trackedWhat you need to know
A co-branded card is issued and run by a bank, but carries a partner brand and pays its highest rewards on that brand — Amazon Pay ICICI on Amazon, Swiggy HDFC on Swiggy, IRCTC SBI on train tickets, BPCL SBI Octane on BPCL fuel. The bank sets your limit, interest and fees; the partner only supplies the benefits. These cards are excellent when one brand takes a big share of your spend, and poor value when it doesn’t.
- Since RBI’s March 2024 amendment, banks don’t need prior RBI approval for co-branding, but the partner cannot see your transaction data and the card must clearly name the issuing bank.
- Partners can and do change benefits: Airtel Axis removed Swiggy/BigBasket accelerated cashback and lounge access in April 2026.
- Complaints about fees, billing or fraud go to the issuing bank, not the partner brand.
Co-branded cards compared
| Card | Issuer | Joining / annual fee | Reward rate | Best for | Net value on ₹3 lakh/yr spend* |
|---|---|---|---|---|---|
| Scapia Federal Bank | Federal Bank | Free / Free | 2.00% base value | Travellers wanting zero forex and lifetime-free | ₹6,000 |
| Tata Neu Infinity HDFC Bank | HDFC Bank | ₹1,499 / ₹1,499 | 1.50% base value | Tata ecosystem shoppers (BigBasket, Croma, Tata CLiQ, Air India via N… | ₹4,500 |
| Amazon Pay ICICI Bank | ICICI Bank | Free / Free | 1.00% base value | Amazon Prime shoppers wanting a free, no-cap cashback card | ₹3,000 |
| Swiggy HDFC Bank | HDFC Bank | ₹500 / ₹500 | 1.00% base value | Heavy Swiggy/food-delivery users (note: HDFC also lists newer Swiggy … | ₹3,000 |
| Flipkart Axis Bank | Axis Bank | ₹500 / ₹500 | 1.00% base value | Flipkart and Myntra shoppers | ₹2,410 |
| Airtel Axis Bank | Axis Bank | ₹500 / ₹500 | 1.00% base value | Airtel postpaid/broadband/DTH users | ₹2,410 |
| MakeMyTrip ICICI Bank | ICICI Bank | ₹999 / ₹999 | 1.00% base value | MakeMyTrip travellers who want low forex markup | ₹3,000 |
| IndianOil RBL Bank XTRA | RBL Bank | ₹1,500 / ₹1,500 | 1.00% base value | IndianOil fuel spends | ₹3,000 |
| IRCTC SBI Card (Platinum) | SBI Card | ₹500 / ₹500 | 0.80% base value | Frequent IRCTC train bookers | ₹1,810 |
| IndianOil HDFC Bank | HDFC Bank | ₹500 / ₹500 | 0.64% base value | Regular IndianOil fuel buyers with modest spends | ₹1,920 |
| IndianOil Kotak | Kotak Mahindra Bank | ₹449 / ₹449 | 0.50% base value | IndianOil fuel spenders | ₹1,500 |
| ICICI Bank HPCL Super Saver | ICICI Bank | ₹500 / ₹500 | 0.50% base value | HPCL fuel buyers who also pay utility bills on card | ₹1,500 |
| Union UNI-CARBON | Union Bank of India | ₹499 / ₹550 | 0.50% base value | HPCL fuel spenders | ₹851 |
| HPCL BOBCARD ENERGIE | Bank of Baroda (BOBCARD) | ₹499 / ₹499 | 0.33% base value | HPCL fuel spenders | ₹990 |
| BPCL SBI Card Octane | SBI Card | ₹1,499 / ₹1,499 | 0.25% base value | High fuel spenders at BPCL pumps | ₹750 |
| IndianOil Axis Bank | Axis Bank | ₹500 / ₹500 | 0.20% base value | IndianOil fuel buyers wanting a RuPay card | ₹10 |
| Standard Chartered EaseMyTrip | Standard Chartered | — / ₹350 | See card page | Budget travellers booking on EaseMyTrip | — |
| YES Bank POP-CLUB | YES Bank | Free / ₹399 | See card page | POP app shoppers using UPI | — |
| RBL Bank Play Credit Card (BookMyShow) | RBL Bank | ₹500 / ₹500 | See card page | Movie-goers | — |
| EazyDiner IndusInd Bank Credit Card (Signature) | IndusInd Bank | ₹2,999 / ₹2,999 | See card page | Frequent diners | — |
* Base reward value on ₹3 lakh of yearly spends minus annual fee + 18% GST (fee treated as waived when the published waiver threshold is ₹3 lakh or less). Accelerated categories, caps and exclusions change the real value — see each card page.
Types of co-branded cards
Amazon Pay ICICI, Flipkart Axis, Tata Neu Infinity HDFC — 5%+ on the platform, around 1% elsewhere.
IndianOil HDFC/Axis/RBL/Kotak, BPCL SBI Octane, ICICI HPCL Super Saver, HPCL BOBCARD Energie — 4%–8.5% at the partner’s pumps, with monthly caps.
IRCTC SBI (up to 10% on AC train tickets), MakeMyTrip ICICI (6% MMT hotels, 0.99% forex), Scapia Federal, SC EaseMyTrip.
Swiggy HDFC (10% on Swiggy, capped ₹1,500/month), EazyDiner IndusInd, RBL Play (BookMyShow tickets).
When a co-branded card makes sense
- Highest reward rates available on that brand
- Often extra perks: memberships (Swiggy One, MMTBLACK, EazyDiner Prime), priority service
- Fee waivers are often achievable (IndianOil HDFC: ₹50,000 a year)
- Rewards frequently credited as cashback or directly usable on the platform
- Rewards outside the partner are usually 1% or less
- Points or coins may be usable only with the partner (Scapia coins only on travel; NeuCoins in the Tata ecosystem)
- You are exposed to benefit cuts when the partnership is renegotiated
- Tying most spending to one card concentrates your utilisation
Estimate your co-branded card value
Frequently asked questions
Who issues a co-branded credit card?
Always the bank (or a licensed NBFC issuer). The brand is a partner. Your credit limit, interest rate, statement, fraud handling and credit bureau reporting are the bank’s responsibility.
Can the partner brand see my card transactions?
No. RBI’s rules bar the co-brand partner from accessing card transaction data, apart from what is displayed to you in encrypted form.
Is a co-branded card better than a general cashback card?
Only if a large share of your spending is with that partner. If you spend ₹10,000 a month on Amazon, Amazon Pay ICICI returns about ₹500; a flat 1.5% card like Axis ACE returns ₹150 on the same amount.
What happens to my rewards if the partnership ends?
Usually the bank migrates you to another card and gives a window to use accumulated rewards. Redeem points regularly rather than letting them pile up.
Card features, fees and reward rates are compiled from issuers’ published terms and reputable card-review sites (source and date on each card page). Issuers change benefits often — confirm the latest MITC before applying.