Citibank Launches Campaign to Maintain Credit Card Spending Growth
Despite the huge write-off Citibank has recently made, the bank expects to maintain or even increase credit card spending figures of the previous year. The current economic situation in the USA does not seem to prevent Citibank credit card holders in Penang, Malaysia, from using their plastics as a payment tool a rewarding device at the same time.
Now, one of the leaders in the credit card segment of the market, Citibank is aiming at extending its customer base, which now equals to more than a million customers, by means of launching a promotional program in Malaysia.
Citibank representatives in Penang sited campaigns and promotions as one of the most effective approaches to introduce new credit cards and maintain the current cardholders' loyalty. According to a poll, customers in Penang find credit cards as a much more convenient and safer payment tool and put more and more trust in them when doing shopping.
Considering that, the bank is determined to raise more interest among people to its credit card applications through Queensbay Mall Mania in Penang which will continue till May 18, 2008. All types of credit cards, from consumer to business cards, participate in the mall-wide program, allowing customers to get an unforgettable shopping experience.
What does the Queensbay Mall Mania include? Every eligible cardholder will be showered with great money saving discounts, instant rewards redemption and lots of privileges. The promotional program will also offer incredible prizes like LCD TVs, Philips home theatre systems, Philips micro hi-fi systems, vacuum cleaners of the same brand and Volkswagen Cross Polo worth RM125,000, would you believe.
A variety of other Philips items are also available though point rewards redemption, if the points are redeemed every weekend during the promotional campaign.
Some of Citibank's credit cards offer customers shopping and traveling privileges as well as exclusive savings at more than 40,000 merchants, including 1,000 outlets in Malaysia, and in more than 40 countries through the whole year.
The campaign has been worked out and is being conducted based on the bank's knowledge of its customers' priorities. So, the goal is to treat customers with products and services best suiting their individual needs, likings and lifestyles.
Muzir Kassim, the vice-president of cards acquisition and product management, believes that Penang will provide significant part of the market in the credit cards segment and add more customers to the existing Citibank's credit cardholder base.
This generous promotional campaign is not meant to initiate unthinkable and uncontrollable credit card spending. Citibank officials admit that the most efficient and beneficial credit card spending is guaranteed by the knowledge about the fundamentals of smart credit use.