IMGCAP(1)]
The Singapore arm of Malayan Banking Bhd., a Malaysia-based financial institution better known as Maybank, has begun offering its credit cardholders cash rebates based on spending, the bank says in a statement. Customers can earn up to S$250 (US$170 or 120 euros) each quarter, or S$1,000 annually. Cardholders also can earn reward points. The promotion does not apply to larger-value purchases such as travel or hotel stays. The bank issues MasterCard- and Visa-branded cards. The bank, which reportedly has 200,000 cardholders in Singapore, gave no immediate comment to CardLine Global. The recent promotion follows a campaign kicked off last year that offered new cardholders a 10-year waiver on card fees and a cash credit of S$100. In a statement, the bank says that promotion increased its card base by 20%.
