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Citigroup initiates Malaysian credit card push

Citibank, the leading credit card issuer in Malaysia, has launched a new campaign called "Stay For Sure", which is designed to encourage customers to consolidate their purchases on their Citibank credit cards.

Running from June 1 to August 31 the promotion will be supported by incentive such as free hotel stays. To qualify, Citibank credit card holders must spend a minimum of RM8,000 (using their Citibank credit cards) within the next three months.

According to Vipin Agrawal, the head of Citibank’s Malaysian cards business, the new campaign reflects a change in philosophy by the company. Mr Agrawal believes that credit card competition has moved to the next level – it is no longer merely about how many cards a bank has issued, it is now about which cards are used most frequently by customers.

We’ve designed a promotion that assures our customers a guaranteed reward, provided the requirements are met. We’re encouraging our cardholders to keep using our card as they stand to truly benefit from it. Furthermore, card consolidation enables customers to track their card spend more effectively, thus making them to be more conscientious of their finances, explained Mr Agrawal.

From March 2006, there were 8.03 million cards in force in Malaysia with usage amounting to RM10.9 billion.