Daybreak

Credit card companies, in their rush to sell more and more cards use a whole gamut of attractive offers—the most popular one being free access to airport lounges. Thanks to this and the sharp rise in domestic air travellers, last year, airport lounges saw of football of over 8.5 million people.

What was once an exclusive service became a top-selling feature, even for non-premium cards issued by banks. Lounge access became overused and an expensive bill to foot for credit card issuers.

Earlier last month, Axis Bank, the country’s fourth-largest credit-card issuer, revised its lounge policy. But retracting the freebie altogether is not a risk banks can afford to take.

What are they doing then?

Tune in.

Recommendation:

Credit-card issuers can’t bank on their most profitable users 

Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.

What is Daybreak?

Business news is complex and overwhelming. It doesn’t have to be. Every day of the week, from Monday to Friday, Daybreak tells one business story that’s significant, simple and powerful.

Hosted from The Ken’s newsroom by Snigdha Sharma and Rachel Varghese, Daybreak relies on years of original reporting and analysis by some of India’s most experienced and talented business journalists.