Citi's first global credit card delivering premium benefits around the world and rewarding cardholders based on their relationship with the Bank
HONG KONG, May 24, 2013 /PRNewswire/ -- Citibank Hong Kong today officially launched its first global credit card - Citi Prestige Card - which is tailored for the affluent segment around the world, leveraging on Citi's unique global footprint and network to deliver a wealth of experiences to cardholders at home and wherever they travel.
Citi Prestige Card offers cardholders unlimited Evergreen Citibank Rewards to earn 2 and 3 points for every dollar spent locally and overseas respectively. Together with our preferential mileage conversion rate, HK$6 local spending or HK$4 overseas spending can earn cardholders 1 mile (Note 1) at any time for their choice of destination. The Citi Prestige Card also rewards cardholders with Annual Relationship Points based on their banking and credit card relationships with the Bank. The rewards are received at a higher level based on the depth and tenure of their Citi relationships. Cardholders are entitled up to an extra 30% Annual Relationship Points (Note 2) of their yearly total eligible spending amount, which allows them to redeem a wide range of rewards ranging from instant redemption at designated merchants and shopping malls to cash coupons, gift items and mileage programs.
Maggie Ng, Head of Cards and Unsecured Lending, Citibank Global Consumer Banking, said, "The growing trend for people in travel and mobility over the last few years has resulted in an increased demand for global credit card services. With the launch of this new Citi Prestige Card, we aim to offer seamless credit card and banking experiences for clients anytime, anywhere and without borders. This card will also recognize clients' longevity with the bank by rewarding them with additional unmatched rewards."
"According to Citibank's annual Millionaire Survey, the number of Hong Kong millionaires climbed to a record high of 601,000 in 2012. At the same time, relative to its small size, Hong Kong has more billionaires than any other places (Note 3), " said Kevin Goldmintz, Head of Hong Kong and Macau, MasterCard. "In line with our long-term commitment to and know-how of the affluent sector, Citi Prestige Card is our first World Elite MasterCard product in Greater China, which delivers a mix of benefits and rewards, unmatched world travel and lifestyle expertise as well as global acceptance geared towards this sophisticated and discerning market segment."
Key features of Citi Prestige Card:
Cardholders | Banking and/or credit card relationship with Citibank | |||
1 year | 2-5 years | 6-9 years | 10 years | |
Citigold / Citigold Private Client | 10% | 15% | 20% | 30% |
Non Citigold / Citigold Private Client | 5% | 7% | 10% | 15% |
The Citi Prestige Card will be offered to clients with a minimum annual income of HK$600,000 or Citigold clients.Applicants who successfully apply for the Citi Prestige Card before August 31, 2013 can enjoy 30,000 Asia Miles (Note 4) as a welcome gift. Extra 10,000 miles will be awarded upon accumulative spending of HK$20,000 in the first 2 months from the date of card issuance. For application details, clients can call 24-hour Citi Prestige Service Line at 2860-0338 or visit www.citibank.com.hk.
Notes:
About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities -- such as shopping, traveling, running a business and managing finances -- easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.