SBI Cards has tied up with Future Group company Fashion at Big Bazaar (FBB) to offer a co-branded credit card, ‘Styleup’.
The new Styleup card offers a lifetime flat 10 per cent discount on fashion apparel, fashion accessories and footwear at all FBB and Big Bazaar stores and the customers will also get 10 times the rewards on all Big Bazaar purchases besides other discounts and rewards.
“SBI Cards is the only free-standing credit card company in the country. All others are parts of banks SBI Cards has been seeing strong year on year growth in the last few years. The tie-up with the Future Group is to fuel this performance by entering into the high growth retail sector that is expected to increase to more than US$ 800 billion by 2015,’’ Arundhati Bhattacharya, Chairperson, State Bank of India said, adding that the offering would create value for customers and is a “win-win situation for both partners.’’
Kishore Biyani, Group CEO, Future Group said, “FBB’s leadership in fashion offering and SBI Card’s leadership in the credit card space will enable us to offer a unique and valuable shopping experience for our customers.’’ He assured that the co-branding would ensure that SBI Cards rose from its number 3 position in the credit card industry “to the leadership position in the next 18 months.’’
