which bank issued 1st credit card
This Bank Issued Its first Credit Card 45 Years Ago : The credit card that you and I enjoy today for easy online and offline shopping was introduced 45 years ago. Today, India has millions of card users.
Nowadays, most working people use credit cards. Whether it’s the end of the month or a purchase, they use them. Credit cards have made life easier for many people. But do you know when credit cards were introduced in India and which bank issued the first credit card?
The credit card journey began in India in 1980, when the Central Bank of India issued the first credit card. It was called the Central Card. It was under the Visa network. Since then, the payment system has evolved significantly, from UPI-linked digital cards to today.
credit card status in india
According to recent RBI data, there are over 110 million credit cards in India. These cards range from regular cards, travel cards, lifestyle cards, fuel cards, secured cards, and UPI cards. Customers choose cards based on their needs and preferences.
From large banks to small finance banks
Previously, credit cards were issued only by large banks to individuals with high credit scores, but now small finance banks like AU Small Finance Bank, Suryoday Small Finance Bank, and Utkarsh Small Finance Bank are also issuing credit cards. The profile of credit card customers in India has expanded significantly over the past few years. Previously, it was a product exclusively for large banks, but now it’s available across all segments. Small finance banks are also issuing cards and reaching new customers in tier-2 and tier-3 cities.
travel history
1980: Central Bank of India issues first card
1990-2000: The 1991 economic liberalization allowed global banking institutions to enter India. This period introduced features such as insurance, zero liability for fraud, and a reward point system.
2000-2010: With the internet revolution, credit cards became a vital part of online shopping. IRCTC (2002), MakeMyTrip (2005), and Flipkart (2007) made card payments a common practice.
2010-2020: NPCI launched RuPay in 2012, which increased the reach of cards in tier-2 and tier-3 cities.
After 2020: 100 million cards in the market by September 2022, and 111.2 million active credit cards in the banking system in May 2025.
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