Reliance Retail has ventured into the credit card space by joining hands with SBI Card. The duo have launched a co-branded card in two variants — Reliance SBI Card and Reliance SBI Card Prime.

Observers said more such co-branded credit cards from the country’s largest retail player can be expected in the days ahead. Jio Financial Services may also bring out its card as it ventures into more products and services.

Reliance Retail said its lifestyle-focused credit card will enable its holders to unlock rewards and benefits while transacting at Reliance Retail’s outlets which range from fashion, lifestyle and jewellery to grocery, consumer electronics and pharma.

Reliance SBI Card users can also enjoy offers rolled out by SBI Card. The annual renewal fee for Reliance SBI Card Prime is Rs 2,999 plus taxes and that of Reliance SBI Card, Rs 499 plus taxes.

Cardholders can avail themselves a renewal fee waiver upon achieving the annual spending milestone of Rs 3 lakh on Reliance SBI Card Prime and Rs 1 lakh on Reliance SBI Card.