EON Bank targets 100,000 new cardholders

KUALA LUMPUR: EON Bank is targeting 100,000 new cardholders for its new co-branded credit cards – The Store and The Pacific Gold and Platinum Cards – targeted at price-savvy consumers.

Its partner, The Store Corp Bhd, has a network of 58 outlets under The Store and five hypermarkets under wholly owned subsidiary, Pacific Hypermarket & Departmental Store Sdn Bhd.

EON Bank, in a statement, said it believed The Store & Pacific Gold and Platinum Credit Cards would draw a segment of consumers who wanted more from their spending value through exclusive shopping, home furnishing and dining discounts.

“The addition of The Store & Pacific Gold and Platinum Credit Cards to our portfolio comes during a period when consumer demand for more purchasing power and value is at a high point,” EON Bank Group head (consumer banking) Michael Lor said after launching the card in Alor Star on Saturday.

Over the last six months, the bank’s card circulation grew to 530,000 and it is expected to reach 650,000 cards by year end.

The new co-branded credit cards offer holders double the reward points and access to low prices, promotions during sales as well as gift redemption vouchers.

Platinum cardholders also enjoy free insurance coverage of up to RM100,000, travel accident benefits of up to RM2mil and special will-writing services. – Bernama

URL: http://biz.thestar.com.my/news/story.asp?f...66&sec=business

clawhammer, old news. Have been discussing that few months back.

Perhaps vin_ann could update that to 1st post.

Maybank and HSBC have been distributing that leaflet since last year if I'm not mistaken.

CIMB DA distributed it early this year.

Are you doing a cash advance withdrawal? Won't that be charged from the 1st day (interest or financial charge) with some withdrawal fee?

Thanks for the clarfication. I thought you were withdrawing cash using your credit card.

Well, I seldom hold cash in my wallet. Everything goes to my credit card. I settle the oustanding online (Maybank2u) as my primary CC is MBB.

I believe Easy or Flexi Payment and 0% installament programme are very benefits to consumers if you use it smartly. You won't burden or burn your wallet in short term in order to get what you want. Just plan your purchase wisely and you won't be trapped by cunning banks.

By the way, MBB doesn't have Easy or Flexi Payment right? I know they have year long low interest of balance transfer programme which not that useful to me.

Maybank is more famous with their Zero to Hero (Hero to Zero - cannot remember which word comes first) programme. Basically, it's a promotional name for their 0% installament programme.

I doubt the on-the-fly update thing.

Usually 0% balance transfer is promotional based and time limited. Year long balance transfer seldom offers 0%.

Not 3 years? IIRC it was 3 years.

Example of CIMB aggressive promotional activity?

That day I called MBB for annual fee waiver. My anniversary will be next month, so I decided to give them an early call.

They said that they only could waive if it has been charged into the statement.

Some bank need to call one month earlier if I'm not mistaken.

My experience with HSBC was I didn't even pay that and a call for waiver just reversed the charge.

There're couple of purpose of having another (second) CC:

1. Approval failure
2. 1st credit limit has been maxed out
3. Different statement date
4. Different gateway
5. Benefits/Discounts

Reason 5 doesn't really bother me in contrary. If not, I won't dump my HSBC, apply for Citibank or use my CIMB DA.

I didn't face any approval failure with my main MBB cards. (touch wood). I guess that most of the transactions I made are local.

HSBC or UOB will be a good competitor for Citibank.

I think your card is less than a year and that's why they're reluctant to increase the limit.

I faced the same problem with my MBB Petronas Visa. I wanted to upgrade the limit with the justification on having another MBB Visa Classic that has been used for more than 6 months. Both cards are sharing the same credit limit.

The reason they rejected my application is that my card age is less than a year.

The same goes to HSBC and CIMB DA. Valid for 3 years.