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Monday, January 27, 2025 | 01:15 AM ISTEN Hindi

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American Express works at broadening its card reach

Eases entry requirement, ties up with bigger banks for wider merchant acceptance

“We are witnessing higher engagement with the young and digitally-savvy demographic; 50-60% of our new card members are below the age of 32 years” Manoj Adlakha Chief executive of American Express Banking
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“We are witnessing higher engagement with the young and digitally-savvy demographic; 50-60% of our new card members are below the age of 32 years” Manoj Adlakha Chief executive of American Express Banking

Surajeet Das Gupta New Delhi
American Express has been known for  premium and expensive credit cards. However, the company has dropped its entry-level card eligibility criterion of Rs 600,000 annual income to Rs 450,000.

“We are witnessing higher engagement with the young and digitally-savvy demographic; 50-60 per cent of our new card members are below the age of 32 years,” says Manoj Adlakha, chief executive of American Express Banking Company in India.

Not only that — it is offering the card at an annual fee of only Rs 1,000  in the first year, and with a welcome gift worth the same amount. Effectively, a no-fee card.

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