Malaysia’s CIMB Bank Bhd. has launched an invitation-only credit card targeting high-net-worth individuals to increase its market share in the country’s premium card market.
The bank launched its Visa Infinite Card on April 24, offering benefits and incentives the issuer expects will drive card use, a spokesperson tells PaymentsSource.
The bank will offer the free card at its own discretion only to a pool of its own premium customers and those from other banks, the spokesperson says.
Looking to attract travelers, the issuer set card perks the include unlimited complimentary access to airport lounges in all major airports worldwide plus the highest cash rebate in the market–up to 1.5% for every ringgit spent abroad.
“Customers will also be attended to by dedicated relationship managers who will personally see to all the card members’ needs and inquiries,” he says, noting the issuer also will offer cardholders global concierge services.
Cardholders receive discounts on dining depending on the number of diners, the spokesperson adds. “Two diners would get a 50% discount, three diners would get 33%, four diners would get 25%, and five diners or more would get 20% when using the card to pay.”
The card imposes no initial or annual fees for the principal and three supplementary cards, the spokesperson points out.
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