Correct Answer :   HDFC Bank

HDFC Bank on Thursday (24th August 2023) partnered with Marriott Bonvoy, the esteemed travel program by Marriott, to launch 'Marriott Bonvoy HDFC Bank Credit Card'.

This pioneering co-branded card will operate on the Diners Club platform, which is a part of the globally recognized Discover Global Network.

The newly launched credit card comes packed with travel benefits, designed to elevate cardholders' travel journeys. Cardholders are entitled to Silver Elite Status with Marriott Bonvoy, ushering in a range of privileges including priority late checkouts, exclusive member rates, and bonus points, among other perks, the lender said in a press statement.

This partnership between HDFC Bank and Marriott Bonvoy signifies a strategic move to cater to the growing trend of post-pandemic "revenge spending" on both domestic and international travel.

Speaking at the HDFC Bank-Marriott credit card launch event, Parag Rao highlighted the efforts spanning over two years that culminated in the creation of this exceptional card. Given the shifting trends in consumer behavior post-pandemic, where travel aspirations are soaring, HDFC Bank seeks to tap into this market enthusiasm.

The bank currently boasts a substantial base of 18 million credit card users and considers the Marriott Bonvoy card a pivotal addition to its premium offerings.

Marriott said this is not an exclusive partnership and they can do more cards with HDFC bank or with other partners.

A look at key features of the card :

The Marriott Bonvoy HDFC Bank Credit Card comes with an array of annual benefits. As a gesture of welcome, new card members and those renewing their cards will receive a free night award, valued at up to 15,000 points. This award can be redeemed at Marriott Bonvoy's participating hotels globally, for a span of one year. Additionally, cardholders have the option to enhance the value of this award by utilizing up to 15,000 Marriott Bonvoy Points, the lender said.

The card will also provide Silver Elite Status accompanied by the privilege of receiving ten elite night credits annually. The rewards structure of the card is also designed to cater to diverse spending patterns.

Cardholders can earn 8 Marriott Bonvoy points for every Rs 150 spent on eligible purchases at participating Marriott Bonvoy hotels (excluding Homes and Villas), for monthly expenditures of up to Rs 10 Lakh. Furthermore, 4 Marriott Bonvoy points can be earned per Rs 150 spent on eligible travel, dining, and entertainment transactions, for up to Rs 5 lakh per month.

Card members who already earn 8 Marriott Bonvoy Points per Rs 150 for spending at participating Marriott Bonvoy and Marriott-branded properties will not accrue an additional 4 Marriott Bonvoy Points under this earning category...

Source : CNBC