India’s credit card market is booming in 2025, surpassing 110 million active cards with monthly transactions hitting new records. As economic recovery and rising digital adoption fuel this growth, knowing the leading issuer banks is essential for both consumers and businesses. Here’s a deep dive into the top 10 credit card issuer banks that dominate India’s credit card landscape, backed by the latest market share statistics and key trends.
The Credit Card Market: A 2025 Snapshot
- Number of active credit cards: Over 110 million
- Top 4 banks’ combined share: Over 70%
- Market dynamics: Private banks continue to outpace public sector banks (apart from SBI) with strong urban and digital outreach.
1. HDFC Bank
Market Share: 22%
Key Cards: Infinia, Diners Black, Regalia, Tata Neu Infinity, Millennia
Highlights:
- India’s top credit card issuer by a margin, HDFC boasts the broadest premium portfolio and deep city-wise reach.
- Leading in both spend and cardholder numbers, thanks to aggressive digital onboarding and popular reward structures.
2. SBI Card (State Bank of India)
Market Share: 19–20%
Key Cards: SBI Cashback, SBI Elite, SimplyCLICK, IRCTC SBI
Highlights:
- SBI Card leverages the nation’s largest public sector bank’s customer base, strongly represented in tier 2/3 and rural markets.
- Known for mass-market cards, extensive branch network, and robust customer service.
3. ICICI Bank
Market Share: 14–16%
Key Cards: Amazon Pay ICICI, Coral, Rubyx, Sapphiro
Highlights:
- Dominates the co-branded segment, especially through its Amazon collaboration.
- Large merchant acceptance network and seamless digital servicing attract urban millennials.
4. Axis Bank
Market Share: 10–14%
Key Cards: Reserve, Atlas, Flipkart Axis, MyZone, Ace
Highlights:
- Axis Bank stands out for travel and reward-rich cards.
- The acquisition of Citi’s India cards portfolio in 2024 further strengthened its position and urban presence.
5. Kotak Mahindra Bank
Market Share: 4–7%
Key Cards: White Reserve, Essentia, League
Highlights:
- Fastest-growing among midsized private banks.
- Strong in digital onboarding and noted for fintech partnerships and co-branded launches.
6. RBL Bank
Market Share: ~3%
Key Cards: Platinum Maxima, Popcorn, Cookies
Highlights:
- Renowned for innovative, lifestyle-focused cards, and is popular among Gen Z and urban users.
- Expanding via digital-first strategies and easy approval norms.
7. IndusInd Bank
Market Share: ~2–3%
Key Cards: Legend, EazyDiner, Pinnacle
Highlights:
- Focuses on premium and niche partnerships (dining, travel, experiences).
- Well-known for personalized and customized card benefits.
8. IDFC FIRST Bank
Market Share: ~2%
Key Cards: FIRST Classic, FIRST Select, HPCL Power+
Highlights:
- Disruptor with zero annual or joining fees and UPI-linked credit cards.
- Highly transparent, fee-free models appeal to younger and value-conscious users.
9. American Express (India)
Market Share: <2%
Key Cards: Amex Platinum, Gold Charge, SmartEarn
Highlights:
- The go-to for premium professionals and business travelers.
- Strong brand loyalty in metros, despite select merchant acceptance.
10. YES Bank
Market Share: ~1–2%
Key Cards: YES First Exclusive, Prosperity, Kiwi RuPay Co-branded Card
Highlights:
- Quick digital issuance and first-mover in UPI-linked, fintech partnered credit cards.
- Expanding fast due to fintech tie-ups (e.g., Kiwi) and focus on digital onboarding.
Key Industry and Issuer Trends
- Private banks dominate: Over 90% of new issuances in 2025 are by private sector banks, with SBI as the only public sector giant holding its market share.
- Digital and co-branded cards on the rise: Cards linked to popular apps (Amazon, Flipkart, Tata Neu) and fintechs (Kiwi, OneCard) are fueling growth.
- UPI integration: RuPay credit cards on UPI are a transformational trend, with YES Bank, HDFC, and SBI launching flagship offerings.
- Premiumization: The upper-income user base is increasingly opting for super-premium cards offering travel, lounge, and concierge perks.
- Rural growth: SBI and select private banks are making inroads with entry-level cards in traditionally under-banked areas.
Quick Reference Table
| Bank | Market Share (%) | Unique Strength |
| HDFC Bank | 22 | Premium, reward-rich, all-India presence |
| SBI Card | 19–20 | Rural & urban reach, mass-market products |
| ICICI Bank | 14–16 | Co-brands, strong digital innovation |
| Axis Bank | 10–14 | Urban, travel rewards, Citi acquisition |
| Kotak Mahindra Bank | 4–7 | Fast digital, fintech partnerships |
| RBL Bank | ~3 | Lifestyle/Niche, Gen Z focus |
| IndusInd Bank | ~2–3 | Premium, dining/travel, customization |
| IDFC FIRST Bank | ~2 | Lifetime free, UPI-linked, value offers |
| American Express | <2 | Premium/professional, metro city base |
| YES Bank | ~1–2 | Digital, UPI, fintech alliances (Kiwi) |
Final Thoughts
Choosing the right credit card isn’t just about rewards—it means picking a bank with a strong, transparent, and service-oriented offering. As private banks continue to reinvent the space and partnerships with tech giants reshape spending habits, the Indian credit card market is set for even more vibrant growth in years ahead.
