Peerless in tie-up with ICICI launches co-branded credit card

With the increase in defaults in payments of credit cards banks are going slow on issuing credit cards. ICICI bank country’s largest private sector bank and Peerless General Finance & Investment Company Ltd in a tie-up has launched a co-branded credit card.

Under the banner of Peerless Smart Money, the credit card business will operate it is already selling life insurance, general insurance and mutual funds products.

Addressing a press conference during the launch of credit cards S K Roy, managing director, Peerless General Finance, said, "Through Peerless Smart Money, we seek to ensure total customer satisfaction."

In the beginning, the company will be disbursing the card through 76 branches across the country.

Ray informed the company is aiming to launch its own insurance and mutual funds products soon.

Similar to all other credit cards, standard offers like balance transfer and utility bill payment services will be offered through the cards.

Speaking during the launch, Jayanta Roy, director, (corporate planning and strategy), of Finance, said, by 2010, the Peerless has plans to considerably build up its operations.