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| Citibank Korea issues over 10,000 PremierMiles credit cards in just 10 weeks, becoming a leading Visa Signature product in the Korean market |
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Seoul (Korea Newswire) June 10, 2009 10:45 AM -- As of June 3rd, Citibank has already issued more than 10,000 PremierMiles credit card accounts following its launch in March. This accomplishment makes the Citi PremierMiles card a leading Visa Signature card product in the market, and all within a very short 10 week period. Citi PremierMiles has successfully differentiated itself from the existing co-brand mileage cards by establishing a new category of mileage & travel cards, gaining a very positive response from the market.
The Citi PremierMiles card offers customers the opportunity to accumulate PremierMiles based on their daily spending and the freedom to convert these earned PremierMiles into miles of various frequent flyer programs at any time, or to get cash back. In this way, Citi PremierMiles helps customers optimize the utilization of their airline miles and thus enables them to maximize their free travel. Moreover, customers can use their PremierMiles at any time, since they never expire.
Citi PremierMiles credit card is a premium mileage & travel card with a unique concept for the Korean market, leveraging Citi’s partnerships with major airlines around the world. A special feature of the card is that customers may continue accumulating Citi PremierMiles and keep them centralized until they wish to convert them into frequent flyer program miles, thus avoiding the inconvenience of having miles scattered across a variety of programs. “Our goal for PremierMiles is to become the best premium mileage and travel card in the market; Citi will continuously develop best-in-class products with the better benefits and services for our card customers in Korea” said Sergio Zanatti, Cards Business Group Director, Citibank Korea Inc.
“This important milestone has been made possible due to the powerful combination of a great product, a strong sales effort from all our branch staff, the involvement and commitment of our Senior Management, as well as our Citibank Korea employees, making PremiereMiles one of the major bank-wide cross-sell efforts at Citibank Korea ” Mr. YK Ha, Citibank Korea Inc. CEO added.
"We at Visa congratulate Citibank Korea on issuing more than 10,000 Citi PremierMiles Visa Signature cards in a very short period of time. The Visa Signature program is tailored towards the lifestyle of premium cardholders in Korea, and Visa will continue to provide services that meet their needs and expectations,” said James Dixon, President of Visa Korea.
Citi PremierMiles cardholders not only get a competitive basic accumulation rate in retail spending on their cards, but also a first year activation bonus and an annual bonus based on their spending level. An added value for cardholders is that PremierMiles never expire until they are transferred to airline frequent flyer programs or exchanged for cash.
Citi PremierMiles Card in Korea is available in two versions: PremierMiles Asiana and PremierMiles Korean Air. Accumulated PremierMiles can be converted into miles on one local airline (Korean Air Skypass or Asiana Club depending on card type) and four foreign airline frequent flyer programs, including Singapore Air Kris Flyer, Northwest Airlines WorldPerks, Cathay Pacific Asia Miles, and Thai Airlines Royal Orchid Plus, or converted into cash. The converted air miles can also be used in any of the three air travel alliance programs associated with these airlines, including OneWorld, Star Alliance and Sky Team, which include more than 50 international airlines.
The Citi PremierMiles Card offers the prestige of the new Visa Signature services (higher level than Platinum) which offer best-in-class discounts and benefits at various hotels, restaurants, and golf courses, and offers unique travel-related benefits such as airport lounge access, concierge services, and valet parking at hotels and airports.
PremierMiles Card applications are accepted at Citibank branches and through the internet. This product has already been successfully introduced in several markets across the Asia Pacific region, including Singapore, Philippines, Hong Kong, and Taiwan.
Citi - Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, 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, and wealth management. Additional information may be found at www.citi.com
About Citibank Korea Inc.
Citibank had opened its first branch in Korea in 1967, and was born newly as Citibank Korea Inc. (CKI) through integration with KorAm Bank in 2004. CKI serves customers at 231 branches (as of end of March, 2009) in Korea by providing the first class financial products and services based on the various products and know-how of Citi with global network including more than 100 years of history and 200 million customers in more than 100 countries. CKI delivers new financial world to the customers through development of innovative financial products and services, encompassing from corporate and investment banking to consumer banking, private banking, and wealth management. Furthermore, Citibank Korea Inc., as a responsible corporate citizen, conducts diverse community activities in the areas of financial education, next generation education, woman, diversity, community, and environment consistently in corporation with sound non-profit organizations.
News Source: Citibank Korea Inc. |
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