
Singapore Airlines.... Anyone?
New co-brand credit card
KUALA LUMPUR: Malayan Banking Bhd (Maybank), Singapore Airlines and American Express have jointly launched the Singapore Airlines KrisFlyer American Express gold credit card, which is expected to have 30,000 subscribers by year-end.
Maybank consumer banking head and senior executive vice-president Lim Hong Tat said in difficult economic times like these, the card “offered value” to customers.
“Co-brand credit cards are becoming more relevant these days and spending is generally 30% to 35% higher for co-brand cards compared with other credit cards,” he said at the launch of the card here yesterday.
The new card offers the best earn rate for airline miles in Malaysia and the “most attractive” savings for redeeming these miles for flights, Lim said.
For the first three months, card members will earn two KrisFlyer miles for every RM2 spent on the card.
There will also be a “welcome bonus” of 3,000 KrisFlyer miles upon the first transaction being made on the card.
To a question, Lim said Malaysian credit card spending grew by 16% last year, while for Maybank, it had grown 20%. “This year, we are aiming for a double-digit growth, outpacing the market again,” he said.
On customer payment, he said the banking group had in place an
effective risk management framework among other measures to cope with payment-related issues.
*wondering, what kind of risk management framework tht MBB have le?*
TheStar