Citibank Launches Citi Prestige Card in Hong Kong
Citis first global credit card delivering premium benefits around the world and rewarding cardholders based on their relationship with the Bank
HONG KONG, May 24, 2013 /PRNewswire/ — Citibank Hong Kong( http://www.citibank.com.hk ) today officially launched its first global credit card – Citi Prestige Card – which is tailored for the affluent segment around the world, leveraging on Citis unique global footprint and network to deliver a wealth of experiences to cardholders at home and wherever they travel.
Citi Prestige Card offers cardholders unlimited Evergreen Citibank Rewards to earn 2 and 3 points for every dollar spent locally and overseas respectively. Together with our preferential mileage conversion rate, HK$6 local spending or HK$4 overseas spending can earn cardholders 1 mile (Note 1) at any time for their choice of destination. The Citi Prestige Card also rewards cardholders with Annual Relationship Points based on their banking and credit card relationships with the Bank. The rewards are received at a higher level based on the depth and tenure of their Citi relationships. Cardholders are entitled up to an extra 30% Annual Relationship Points (Note 2) of their yearly total eligible spending amount, which allows them to redeem a wide range of rewards ranging from instant redemption at designated merchants and shopping malls to cash coupons, gift items and mileage programs.
Maggie Ng, Head of Cards and Unsecured Lending, Citibank Global Consumer Banking, said, The growing trend for people in travel and mobility over the last few years has resulted in an increased demand for global credit card services. With the launch of this new Citi Prestige Card, we aim to offer seamless credit card and banking experiences for clients anytime, anywhere and without borders. This card will also recognize clients longevity with the bank by rewarding them with additional unmatched rewards.
According to Citibanks annual Millionaire Survey, the number of Hong Kong millionaires climbed to a record high of 601,000 in 2012. At the same time, relative to its small size, Hong Kong has more billionaires than any other places (Note 3), said Kevin Goldmintz, Head of Hong Kong and Macau, MasterCard. In line with our long-term commitment to and know-how of the affluent sector, Citi Prestige Card is our first World Elite MasterCard product in Greater China, which delivers a mix of benefits and rewards, unmatched world travel and lifestyle expertise as well as global acceptance geared towards this sophisticated and discerning market segment.
Key features of Citi Prestige Card:
— Unlimited Complimentary Global Airport Lounge
Access via Priority Pass
Cardholders can enjoy complimentary access to more
than 600 airport lounges in cities around the
world through Priority Pass. No membership fee
and no lounge pass fee are required.
— Luxury Hotel Collection
Cardholders can exclusively receive a
complimentary night at any choice of over 800
luxury hotels and resorts twice per calendar
year with a minimum three-consecutive night
stay at any World Elite Luxury Hotels and Resorts.
— Unlimited Evergreen Points
Earn 2 points for every HK$1 local spending and
3 points for every HK$1 overseas spending.
There is no limit to how many points cardholders
can accrue and they never expire.
— Up to extra 30% Annual Relationship Points
Earn more Evergreen Points based on purchases
every year. The Annual Relationship Points are
made up of a percentage of the yearly total
eligible spending amount and the percentage
rate increases based on the number of years
with Citibank. For Citigold and Citigold
Private Clients, the Annual Relationship Points
earned are even more rewarding.
Cardholders Banking and/or credit card
relationship with Citibank
1 year 2-5 years 6-9 years 10 years
Citigold 10% 15% 20% 30%
Non Citigold /
Citigold 5% 7% 10% 15%
— Preferential Mileage Earn Rate
Cardholders can redeem airline miles from one
of four mileage programs, namely Asia Miles,
KrisFlyer, Royal Orchid and Skymiles, using
their Points whenever they need them, and
with a very attractive rate of as low as
every HK$6 local or HK$4 overseas spending for
1 airline mile.
— Citi Prestige Concierge
One call connects cardholders to a team of
in-country experts who are ready to assist
24/7 and are fluent in 20 languages, from
anywhere in the world. The concierge works
with a team of experts with knowledge of
markets around the world to provide
customized and localized solutions based on
The Citi Prestige Card will be offered to clients with a minimum annual income of HK$600,000 or Citigold clients.Applicants who successfully apply for the Citi Prestige Card before August 31, 2013 can enjoy 30,000 Asia Miles (Note 4) as a welcome gift. Extra 10,000 miles will be awarded upon accumulative spending of HK$20,000 in the first 2 months from the date of card issuance. For application details, clients can call 24-hour Citi Prestige Service Line at 2860-0338 or visit www.citibank.com.hk.
1. Cardholders can redeem 1 Asia Miles/ KrisFlyer
mile (12 Points) for every HK$6 local spending/
HK$4 overseas spending, OR 1 Royal Orchid Plus/
Skymiles mile (13 Points) for every HK$6.5 local
spending/ HK$4.4 overseas spending. Overseas
spending is defined as transactions settled in
currencies except Hong Kong dollar, Renminbi or
Macau Patacas (including internet transactions),
ie no conversion from a foreign currency into
Hong Kong dollar, Renminbi or Macau Patacas is
involved at the point of the transaction and the
transaction currency as shown on the sales draft
(if applicable) is not in Hong Kong dollar,
Renminbi or Macau Patacas
2. Existing Citigold clients with a 10-year
relationship and holding Citi Prestige Card are
entitled to 30% Annual Relationship Points of the
total eligible spending in one full year based
on Citi Prestige Card open date.
3. Boston Consulting Group: BCG World Wealth Report
2012: The Battle to Regain Strength
4. Successful applicants are entitled to 30,000 Asia
Miles as a welcome offer upon paying the first
year annual fee of HK$2,500
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
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