However, customers are now exploring value propositions while selecting credit cards.
This has prompted foreign and private sector banks in the country to alter their marketing strategies for new cards.
Instead of branding the cards using names of metals, banks are now focusing on benefits to be offered with these.
Anand Selva, country business manager, global consumer group, Citi India, said, "Clearly, customers' preferences are changing, and there is a shift away from metals. Earlier, gold or platinum cards were important.
"While metals are still relevant, these are no longer the primary incentive for customers to choose a card. They now question the value and services offered."
Citibank currently has 2.2 million cards in India and around 20 per cent market share on card spends, which it claims is among the highest in the industry.
"We have worked on value propositions. We have identified four key areas miles, rewards, cash back and affinity.
"We believe we are in the right customer segments, with the right value propositions. That is why spends per card are the highest in our case," Selva said.
The bank has launched a Citibank Premier Miles Card.
Through this, customers can earn miles, which can then be redeemed from six international and domestic airlines.
The bank's Delhi Metro Citibank Credit Card allows customers to exchange reward points for metro rides.
Last year, HDFC Bank, the second-largest private sector lender and the largest issuer of credit cards in the country, launched no-limit Infinia cards for the uber-rich,
An extraordinary message of love, hope to Japan
Global banker returns to head IndusInd arm
Manufacturing growth slows down in Feb: HSBC Survey
Why RBI must set a rupee band
Citi to fire 100 in India