Maybank sets aside S$6 million for a new credit card reward programme
First bank to give flexibility of earning cash rebates or more loyalty Points
03 June 2009
Singapore - In yet another bold move to bring the most value to Cardmembers, Maybank is giving the flexibility of earning either cash rebates or more tr’eats Points from spending at an almost endless range of merchants. This new loyalty reward programme amounts to S$6 million, where Cardmembers can earn up to S$1,000 cash rebates or 200,000 tr’eats Points a year. All Cardmembers will reap the benefits no matter which Maybank Card they hold as this Rewards Infinite Value loyalty programme is also not tied to any specific Card.
“Following the success of our campaign in October 2008 where new credit card sign-ups benefitted from a 10-year fee waiver and a S$100 cash credit, we want to take our offerings up to another level by rewarding all our Cardmembers with Rewards Infinite Value,” says Ms Helen Neo, Head, Consumer Banking of Maybank Singapore.
“The campaign in October has increased our Card base by 20% and we want to excite our Cardmembers with this initiative without limiting the rewards to a specific Card.”
“Given the current environment, our Cardmembers are still spending. Our year-on-year billings growth have been consistently outperforming the industry’s performance, even registering positive growth of 4.66% from a year ago in March 2008 while the industry has a negative growth of 3.21%. This Rewards Infinite Value programme will help our Cardmembers save even as they spend,” says Ms Helen Neo.
Rewards Infinite Value aims to bring value and savings to Maybank Cardmembers without a string of conditions. Cash rebates are capped at $250 per calendar quarter while tr’eats Points are capped at 50,000 per quarter.
All credit card spending with any local merchants on the following categories will enjoy cash rebates OR more tr’eats Points:
All Food & Beverage except Hotels
2X (2 times dollar amount spent)
A Seasonal Reward list of merchants such as Breeks! Café, Dian Xiao Er, Ichiban Boshi, Jack’s Place, Kuishin-Bo, Seoul Garden, Soup Restaurant, Fox Fashion, G2000, Giordano and more, will also enable Cardmembers to earn either 5% cash rebates or 10X tr’eats Points when they spend there.
The Rewards Infinite loyalty programme allows Cardmembers to enjoy non-expiry of tr’eats Points earned from credit card billings, free enrolment into Frequent Flyer Programme, 50% discount on selected reward items during the birthday month. The Rewards Infinite Value is an enhancement to the Rewards Infinite programme launched to give more benefits to Cardmembers
The Maybank Group is the largest banking group in Malaysia and has been leading the banking industry for over three and a half decades. Globally, Maybank is present in 12 countries. In the ASEAN region, Maybank is among the top five banks with total assets of S$112 billion as at June 2008 and the Bank's biggest overseas presence is in Singapore. Maybank has also been ranked as Asia’s 5th Best Big Bank according to a survey conducted by Mercer Oliver Wyman
Maybank started its operations in Singapore in 1960 and is a Qualifying Full Bank with the most extensive network amongst the QFBs with 27 service locations (22 Branches and 5 Offsite ATMs). All the Branches and ATMs are strategically located in both the business districts and the suburban areas for the convenience of our customers
About Maybank Credit Cards
Maybank has a comprehensive range of card products to meet varied customer needs. These include debit cards (Flash Debit Card), credit cards (Maybank Horizon Platinum, Family & Friends Platinum and Maybank eCard Platinum), affinity/co-brand cards (Maybank Catholic High Alumni Platinum Associates) and prepaid cards (Money Gift Cards).
In July 2007, Maybank launched Posh tr’eats, an exclusive reward programme for Maybank Platinum card customers to redeem a day’s free usage of either a Porsche Cayenne or Porsche Boxster when they charge a minimum of S$12,000 to their credit cards within 3 months. Redemption for this complimentary usage of the car is for up to 2 days in a year, starting from 1 October 2007.
In April 2007 Maybank was the first to tie up with Visa International in Singapore to offer Visa Money Transfer, a card-to-card payment service which allows Maybank customers to send funds from their Visa cards to other Visa cardholders around the world.
In January 2004 Maybank was the first bank in Singapore to issue multi-purpose prepaid cards on the MasterCard Electronic platform.
In September 2003, the first business debit card in Singapore was introduced by Maybank provides start-ups and SMEs easier working capital and cash flow access.
In August 2002, Maybank launched the world's first luminous glow-in-the-dark card. The first Maybank credit card bearing the MasterCard brand in Singapore was also launched.
In April 2000, Maybank launched the first innovative email credit card with the lowest interest rate in Singapore, that allows customers to apply for a credit card and receive their statements online.
In July 1998, Maybank offered a seven-year fee waiver for its credit card.
In 2005, Maybank’s Xbox® Live Modus MasterCard won the Silver Award at MasterCard's Asia Pacific Market Leadership Awards for 'Best Youth' Initiative. A year earlier, Maybank was presented the Gold Award for ‘Best MasterCard Electronic Card’ for its Money Gift Card. Maybank was the first to introduce an email credit card in 2000.