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Study shows five-fold surge in travel credit card applications, led by women 

On World Tourism Day, IndiaLends released its "IndiaLends’ TravelToGrow" report, exploring how Indian youth are leveraging credit products for travel purposes.

The report highlights a significant five-fold increase in travel-focused credit card applications in the past year.

IndiaLends, with over 17 million members, observed that 50% of credit card applications were for travel-specific cards in 2022,

with a notable surge in demand from female travellers, accounting for 52% of these applications.

Loan applications for travel also doubled during this period.

The previous year witnessed a tenfold growth in loan applications for travel and a sixfold increase in travel-specific credit card applications, indicating a strong desire to travel and invest in enriching experiences.

Younger generations are actively building their credit history while capitalizing on credit card rewards and benefits to fund their travel aspirations.

Bengaluru leads in travel card applications at 30%, followed by New Delhi (26%), Mumbai (20%), and Hyderabad (12%), with the remainder from non-metro cities.

Credit card applications show notable peaks in March (before the holiday season) and from September to December (festive, year-end, and wedding seasons).

Click here to know more about the study. 


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World Tourism Day 2023: Study shows five-fold surge in travel credit card applications, led by women

On IndiaLends' platform, the Axis Bank Vistara credit card, American Express Platinum Travel card, and SBI ELITE card have risen to become the preferred selections among travellers.

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