Kuala Lumpur (The Star/ANN) - Citibank Bhd, which has launched two new Visa credit cards in partnership with AirAsia Bhd, is eyeing to issue 100,000 of the cards over the next two to three years.
In a joint statement, AirAsia and Citibank said the AirAsia-Citibank Platinum Visa and AirAsia-Citibank Gold Visa credit cards offered new benefits that include AirAsia X Premium FlatBed upgrades, free-in-flight meals and free Pick a Seat.
"The cards are tailored to the needs of our card members; complimented with exciting rewards, exclusive privileges and cost savings," Citibank Chief Executive Officer (CEO) Sanjeev Nanavati said in the statement yesterday.
AirAsia-Citibank Gold Visa Credit Card members need to spend 20,000 ringgit (US$6,562) per annum to automatically activate the free in-flight meals and Pick a Seat benefits, while AirAsia-Citibank Platinum Visa Credit Card holders require to spend an annual 30,000 ringgit for incremental benefits.
In addition, card members will also earn up to three times AirAsia points for every 1 ringgit spent, based on a tiered spending system while AirAsia points can be redeemed for AirAsia e-Gift vouchers, items from the Citibank rewards catalogue or for instant rewards redemption at selected merchants nationwide.
AirAsia Bhd CEO Aireen Omar said the company was sure AirAsia guests would find greater value in the new products and also enhance their booking and travel experience with AirAsia.
Meanwhile, Bernama reported that Citibank expected its credit card sales and travel-related spending to grow moderately this year on the back of the slowdown in the global economic growth, coupled with the uncertain market environment.
Managing director (cards and consumer lending) Anand Cavale was quoted as saying that Citibank's credit card sales would grow between 5 per cent and 6 per cent this year, lower from 10 per cent recorded last year, while travel-related spending would see a 7 per cent -10 per cent growth compared with 11 per cent achieved last year.
"There's a little bit of slow growth in China and in Singapore, so we are saying the growth could be moderate for these two categories this year. Usually it will track the gross domestic product (GDP) movement as currently the growth posting is 4 per cent-5 per cent per annum.
"But I think the sales growth will rebound next year as the economy is expected to recover," he said.