Citibank Taiwan Partners with Industry Leaders to Launch Multi-Brand Citi Privileges Credit Card

Taipei – The multi-brand credit card has arrived in Taiwan with the introduction of Citibank’s new Citi Privileges credit card.

Launched by Citibank with industry leaders, Wang Group, Vieshow Cinema and Lion Travel, the Citi Privileges credit card offers a wide range of dining, entertainment and travel benefits. A first-of-its-kind credit card in Asia, some of the rewards offered include:

* A bonus point for every NT $15 spent at co-branded stores
* A birthday “Buy one, get one free” meal offer from Wang Group eateries
* A “Buy one, get one free” ticketing offer from Vieshow Cinema
* Free airport drop off service for group travelers (four people or more)

Victor Kuan, Country Business Manager, Global Consumer Group, Citibank Taiwan, said the Citi Privileges credit card targets customers who like to work hard and play hard.

“Many of our customers lead active lifestyles and seek reward opportunities across a range of areas. Because the traditional co-brand credit card could not meet their various needs and demands, we worked hard to develop the Citi Privileges credit card.”

Mr. Kuan added, "Research based on spending patterns also supported the launch of the new credit card. People who eat out frequently, watch movies often and travel a lot, have a spend power that is nearly twice that of an average Citibank credit card holder.

“All of these factors led us to work with leaders such as Wang Group, Vieshow Cinema and Lion Travel to create the industry first, and benefits packed, Citi Privileges credit card,” noted Mr Kuan.

In addition to reward benefits, Citi Privileges credit card holders can also enjoy a range of savings.

Case study: Wang plans to treat his girlfriend, Li on her birthday. As he is a Citi Privileges credit card holder he can enjoy benefits from Vieshow Cinema (with two weekday discount tickets and snack packages, he can save NT $385). Following the movie they can go to Wang Steak restaurant for dinner where he can use his “Buy one, get one free” birthday certificates to save NT $1440.

They can also stay overnight at Hotel One. By booking online, via the Lion Travel website, Wang receives a 5% discount off the special online price as well as a complimentary afternoon tea voucher (for two, total savings NT $4,225). Overall, Wang can enjoy free benefits to the value of NT $9,940 and accumulate 400 reward points at the same time.

Statistics provided by the Directorate-General of Budget, Accounting and Statistics, Executive Yuan, R.O.C (Taiwan) indicates that the number of Taiwanese traveling overseas has increased markedly – 266 (per thousand) in 1996 to 379 (per thousand) in 2006. In addition, for some consumers, spending on travel, dining and entertainment is as high as 42% of their overall personal expenditure every year.