RBL Bank Launches Shoppers Stop Gold, Platinum & Black Credit Cards (2026)

RBL Bank and Shoppers Stop unveiled three new co-branded credit cards on 21 August 2026. These cards are Shoppers Stop Gold (₹1,000 fee), Shoppers Stop Platinum (₹5,000 fee), and Shoppers Stop Black (₹10,000 fee).

Each bundles a tier of Shoppers Stop's First Citizen Club membership with an accelerated reward rate on Shoppers Stop purchases. RBL is pitching the top card's reward rate at as high as 7.5%.

What RBL and Shoppers Stop announced

What stands out is that RBL Bank's full credit card lineup sits well below this pricing on almost every existing card. RBL's cheapest general-purpose card, ShopRite, costs ₹500 and waives that on ₹1.5 lakh of annual spend. These three don't offer that trade at all.

The 7.5% headline, and what actually earns it

Fifteen Reward Points per ₹200 spent, at ₹1 a point, on the Black card, is genuinely a 7.5% return. That beats almost every general-spend credit card sold in India today.

But the monthly cap is only 1,500 points, which you can hit at ₹20,000 of Shoppers Stop spend a month. Hit the cap and RBL stops paying you the accelerated rate. On the Gold and Platinum card, the same 1,500-point cap arrives at ₹30,000 of monthly spend.

Apart from that, RBL doesn't pay reward points on fuel, utilities, insurance, and several everyday bills. That list follows the merchant category codes that RBI-regulated cards use to exclude spend.

The ₹8,500 in "free vouchers" isn't a welcome gift

The Gold card promises ₹3,000 in free Shoppers Stop vouchers, Platinum ₹5,500, Black ₹8,500. While it reads as a welcome offer, it isn’t so. Those vouchers are offered as milestone benefits that are explained further down the page.

• Gold pays ₹500 every quarter you clear ₹1 lakh of Shoppers Stop spend, plus ₹1,000 if you clear ₹3.5 lakh across the full year
• Platinum pays ₹1,000 a quarter on ₹1.5 lakh spent, plus ₹1,500 annually on ₹5 lakh
• Black pays ₹1,500 a quarter on ₹2.5 lakh spent, plus ₹2,500 annually on ₹8 lakh

So, you need to cross quarter and annual milestones to get those “free” vouchers. To collect the full ₹8,500 on the Black card, you'd need to clear ₹2.5 lakh of Shoppers Stop spend in each of four quarters, which alone adds up to ₹10 lakh a year at one department store chain.

The actual welcome benefit is: a ₹1,000 gift on Gold, a ₹2,000 voucher plus a ₹2,000 gift on Platinum, and a ₹3,000 voucher plus a ₹3,000 gift on Black. These are provided once you activate the card and shop within 30 days, and only after the annual fee has been charged.

Who this is actually for

The card makes sense for a genuine Shoppers Stop loyalist who wants the specific First Citizen Club tier bundled with a bank card. And whose meaningful share of monthly shopping already happens at Shoppers Stop. It isn’t a general-purpose credit card.

Shoppers Stop has also partnered with Axis Bank and HDFC Bank for co-branded cards, and they remain the cheaper way into the same loyalty programme.

FAQs about the RBL Shoppers Stop cards

What are the RBL Bank Shoppers Stop credit cards?

They're three co-branded credit cards, Gold, Platinum and Black, launched jointly by RBL Bank and Shoppers Stop on 21 August 2026. Each bundles a tier of Shoppers Stop's First Citizen Club membership with an accelerated reward rate on Shoppers Stop purchases.

How much do they cost?

Gold costs ₹1,000 plus GST a year, Platinum costs ₹5,000 plus GST, and Black costs ₹10,000 plus GST. None of the three fees is waived by spending, based on what RBL has published so far.

Is the "free vouchers" amount on each page a real welcome bonus?

No, it's the maximum value of quarterly and annual milestone vouchers you can earn across a full year of Shoppers Stop spending. Gold's figure needs 4 lakh of annual Shoppers Stop spend to earn in full, Platinum's needs ₹6 lakh, and Black's needs ₹10 lakh.

Do any of these cards offer airport lounge access?

No, none of the three official product pages mention lounge access, travel insurance or a forex markup discount, including the ₹10,000 Black card.

How does RBL's card compare to the existing HDFC and Axis Shoppers Stop cards?

HDFC Bank's ₹299 Shoppers Stop card and Axis Bank's ₹499 Shoppers Stop card both already exist, and HDFC's separate ₹4,500 Shoppers Stop Black card beats RBL's ₹10,000 Black card on both reward rate and lounge access. RBL's advantage is a more substantial First Citizen Club membership bundled into each tier.

Our take

Pick RBL's Shoppers Stop cards only if the specific First Citizen Club tier is what you're actually after, and you already know your household clears the quarterly spend thresholds at that one store.

For everyone else, HDFC's ₹299 card is the cheaper entry point. HDFC's ₹4,500 Black card beats RBL's ₹10,000 Black card on both reward rate and lounge access. Read your last three months of Shoppers Stop spending before you decide, not the banner on the landing page.

Disclaimer

This is our honest read of what RBL and Shoppers Stop have published, not formal financial advice. Card terms and milestone thresholds can change without notice, so confirm the current terms with RBL before you apply.