ICICI Bank-Ferrari launch co-branded credit card

ICICI-FerrariCountry’s largest private sector lender and overall second-largest lender ICICI Bank has tied up with sports car maker Ferrari to launch a co-branded credit card.

“The ‘Ferrari Credit Card’ comes in two variants on the Visa platform and offers customers a host of offers, including an all-expenses-paid trip for top spenders to Italy and also includes a Scuderia Ferrari watch as a joining gift,” the bank said in a press statement on March 14.

Details of the fees, if any, were not immediately shared by the bank. ICICI Bank’s General Manager Kusal Roy said this is the first-ever Ferrari range of credit cards in the country.

The bank had over 34.69 lakh outstanding credit cards as of November 2015, which saw transactions of over Rs 2,393 crore at ATMs and POS terminals.

Other benefits coming along with the card include discount on Ferrari branded products at the Ferrari Store in Maranello, Italy, and merchandise sold online at the Ferrari Store and Myntra.com, the statement said.

The cardholder also gets complementary access to domestic airport lounges in the country and a “buy one, get one free” offer on bookings done through bookmyshow.com, it added.

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