State Owned Vijaya Bank just a while ago announced the launch of two new types of Credit Cards for its Banking Customers – V-Platinum and V-Privilege Credit Cards.
Features of Vijaya Bank’s V-Platinum Credit Card
This card is intended for HNI customers of the Bank. Minimum Credit Limit will be Rs 200,000 with no maximum pre-set spending limit. The card will be issued based on net-worthiness and Income of the Customer. Minimum Bill Payment will be 25% of the outstanding. The bank is planning to issue 10,000 of these cards.
Vijaya Bank currently has 100,000 Credit Card customers with a net borrowing of Rs 29 Crore. In order to target the Term Deposit holders of the bank, the bank has come up with a V-Privilege credit card which will be issued against Fixed Deposit thus making V-Privilege card a Secured Credit Card and helping customers build credit history. For V-Privilege card, the bank will not make any due diligence of credit inquiries with the bureaus.