Credit cards are a gateway to other loans2 min read . Updated: 08 May 2020, 01:51 PM IST
- Once an individual comes into the credit ecosystem through credit card, banks find it easier to cross-sell them other loan products.
- Two key factors boosted the demand for credit cards and incentivized spending. The first was sales by e-commerce companies. Second, demonetisation in November 2016 had a strong impact on card usage.