After LIC it is now the turn of Bajaj Allianz which is another insurance company to start its own brand of credit cards. I guess it is sort of chain reaction which catches up others soon.
Bajaj Allianz will launch the credit cards under its own brand name. They might be tie up with another partner to launch it soon. It is expected to launch before this year end.
It seems that these credit cards will bear the Bajaj Allianz brand name while the settlements and other stuff would be done through their partners.
I wonder why these already profiting insurance companies are diversifying into this entirely new domain, credit cards! I guess the high interest rates that is being extracted by these credit card companies could be one such reason? What do you say?
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