Citi launches raft of new card products
Loyalty rewards feature strongly
Citi has launched a whole raft of new card products in the last few weeks, and opened a new credit card service – in Korea.??Visa Travel Pass launched in Italy.
?In Italy, Citi and Visa have launched the Citi Visa Travel Pass, which Citi claims is the first payment card offering free flight tickets with any airline, for any destination, at any time of the year.
For each Euro spent with Citi Visa Travel Pass, you get a point. Points are valid for five years. ??With the first transaction, Citi Visa Travel Pass gives two return air tickets for a key destination in Europe; this year London, Paris, Madrid, Amsterdam or Prague. ??With Citi Visa Travel Pass it is possible to:?
- Earn Travel Pass Points with any transaction with the Card (e.g.: at supermarkets, restaurants, petrol stations, etc.)?
- Convert Travel Pass Points into air or train tickets to your preferred destinations.
??Michael Shurlin, Cards Business Manager of Citi in Italy commented: “Citi Visa Travel Pass is a really unique product for the Italian market, suitable for all those who love to travel. The Travel Pass reward program is extremely flexible and offers the widest freedom of choosing the trip, not tied to a particular airline or limited to a specific season. We are convinced that Citi Visa Travel Pass is the best payment tool for your everyday purchases, and when you are traveling.”
??In addition, Citi Visa Travel Pass also offers the Cardholder free insurance package including Garanzia Viaggio (Travel Warranty) protecting from unexpected travel incidents – such as luggage losses, flight delays or cancellations – and Protezione Acquisti (Purchase Protection) guaranteeing the reimbursement in case of loss or damage to the goods that have been purchased using the card.??Citi Visa Travel Pass provides up to four additional cards to your relatives and has a dedicated travel agency for booking air flight tickets, hotel reservations and car rental. ??
Cardholders who do not have all of the points necessary for the desired destination can buy the remaining as long as they have earned at least 50% of the required points.
Premier Miles Platinum for Hong Kong?
In Hong Kong, Citi has launched its Citi PremierMiles Platinum Visa card targeting frequent travelers.
The card is being marketed as a tool not only for mileage conversion, but also for choice.
Mr. Neil Gardner, director of cards business, Citibank global consumer group, said, “Being one of the leaders in the credit card industry, Citibank offers relevant rewards as well as creating a richer experience for customers to get more out of life. As we see that over 10% of the total card spending of our Platinum Card is travel-related, we believe travel is a focus and a lifestyle pursuit for Hong Kong people, and a conventional mileage-earning program no longer fulfills their needs. In view of this, Citi PremierMiles allows cardholders to redeem their Rewards Points for travel-related offers so that they can go wherever they want to celebrate their beautiful life with their loved ones.”
??Citi PremierMiles cardholders are offered upgraded travel-related privileges, compelling earn and burn rate, as well as more choices on travel destination.
Key travel-related privileges include:?
*. Customers can convert Rewards Points only when they need to, as their Rewards Points will never expire.?
*. Customers can choose to accumulate evergreen Rewards Points or convert Rewards Points to one of the four mileage programs, namely Asia Miles, KrisFlyer, Royal Orchid Plus and WorldPerks and fly on up to 53 airlines.?
*.Conversion rate of overseas spending is HK$4 for 12 Rewards Points for one mile;?
*. From now till August 31, 2008, customers can enjoy low conversion rate of local spending at HK$6 for 12 Rewards Points for one mile;?
*. From September 2008 onwards, conversion rate of local spending is HK$8 for 12 Rewards Points for one mile.??
Customers have free access to selected airport lounges at Hong Kong Airport, enabling them to have a comfortable rest before taking a flight. ??Customers can enjoy first two years annual fee waiver (HK$1,200/year) to maximize their privileges. ??
Embedded with its “Client First” philosophy, Citibank credit cards launched its value proposition “Get More Out Of Life” in October last year as its brand differentiation. It aims to enable customers through the cards’ offers to better enjoy life at the most relevant time and place. The value proposition was leveraging on the successful momentum “Celebrate Life Every Night,” a card theme designed to tap into the nightlife where Hong Kong people come alive and many activities take place. ??Citi PremierMiles Platinum VISA Card, softly launched in April, won “The Best Credit Card Award” in the “CAPITAL Best of the Best for Executives 2008,” organized by South China Media Group.
In a co-branding venture, Citi recently completed the launch of the AT&T Universal Business Rewards Card, a credit card designed for small business customers. The AT&T Universal Business Rewards Card rewards small business owners for their purchases and provides them with a prescription drug benefits program and an around-the-clock personal business assistant.
Through Citi’s ThankYou Rewards Network cardmembers can redeem points for such rewards as merchandise, travel and gift certificates to stores, restaurants, golf courses and other merchants. AT&T Universal Business Rewards cardmembers will earn:
* 5 points for every dollar spent on eligible AT&T products and services.?
* 3 points for every dollar spent at participating office-supply retailers, gas stations and professional services providers, such as accounting and legal firms.?
* 1 point for every dollar spent on all other purchases.
Cardmembers can earn up to 100,000 points each calendar year.
“AT&T and Citi have teamed up and responded to our small business customer needs with a card that begins and ends with the small business customer in mind,” says Tim Bannecker, AT&T Vice President of Small Business Marketing. “The AT&T Universal Business Rewards Card is a first-of-its-kind credit card that provides tremendous value for small business customers, giving them a credit card that helps them grow their business with a built-in rewards system that helps them stretch their budget.”
The AT&T Universal Business Rewards Card provides small business benefits from Citi, including:
* 24/7 access to the Citi Personal Business Assistant service, with free personalized support and help with gathering business information, obtaining referrals for marketing and administrative needs, office management, travel arrangements and other business services.?
* Savings of 10–60 percent on prescription drugs at more than 48,000 pharmacies nationwide through the Citi Prescription Discount program.?
* Flexibility to set spending limits on employee cards.?
* Quarterly and annual business account spending summaries by type and employee.?
* Easy access to Citi’s free, industry-leading credit-education program, Use Credit Wisely, for businesses.
New card service in Korea
Citi’s new collections service unit, Citi Credit Service Co., Ltd, was officially launched by Citibank Korea (CKI) at an opening ceremony on July 1.
At the launch, CKI CEO, Y.K Ha said, “We are confident that Citi Credit Service, a 100% CKI financed subsidiary, will deliver enhanced synergies and efficiencies.”
He added, “Once it is fully established, this new unit, which taps the expertise and experience of both CKI and Citifinancial will develop into a high-end credit services firm and provide industry leading customer service and solutions.”
This new entity replaces the former CKI Collections Department.?