Kuala Lumpur: Maybank is further tapping the premium card segment with the introduction of the new Maybank Visa Signature credit card.The card is part of the strategy to boost credit card billings by 11 per cent to at least RM21.3 billion by end-2014, Maybank said in a statement here Wednesday. The bank has identified demand from the high-end mass-affluent customer segment, which falls between the platinum and super-premium card range and typically, has an annual income of RM100,000-RM180,000.
ADVERTISEMENT
"The premium card market is still showing strong growth of some 20 per cent in billings annually. These cardholders typically spend an average of eight times more than that of classic cardholders," said Maybank Head of Consumer Financial Services Malaysia, Hamirullah Boorhan in the statement.
"We are targeting to issue some 20,000 Maybank Visa Signature cards within the first year of launch," he said.
ADVERTISEMENT
Maybank Visa Signature comes with rewards such as a five per cent cash back for petrol and grocery transactions daily and capped at RM88 per month, five times Treats points for overseas transactions, and a five per cent cashback on Visa paywave transactions for six months. -Bernama
