Business

Thursday June 26, 2008 MYT 7:32:19 PM

Giant, Citibank offer co-branded credit card


KUALA LUMPUR: Giant and Citibank have joined forces to offer consumers a co-branded credit card -- the Giant Citibank credit card -- in a move to help Malaysians get more out of their ringgit.

GCH Retail (Malaysia) Sdn Bhd chief operating officer Tom Herriott said its Giant stores were serving over eight million Malaysians a month throughout the country.

“We expect many of them to sign up for this card, which makes it even cheaper to shop at Giant. We are targetting 50,000 cards for the first three months,” he said in a statement.

Herriott said Giant was continuously challenging itself to find new and innovative ways to offer consumers better deals.

“The Giant Citibank Credit Card is a result of this challenge. It demonstrates our commitment to deliver great value at the most cost efficient prices,” he added.

The key benefits of the card were a 2% rebate on all purchases made at Giant stores nationwide, and up to 1% rebate on all other everyday purchases outside Giant.

Further benefits include special member prices and discounts for cardholders. The rebates are over and above Giant’s already low everyday prices.

Other benefits of the Giant Citibank Credit Card include free annual fee for the first year, a 10% rebate for first spend, which was for applications made before July 15 and purchases made before Aug 31.

Thereafter, the cardholders would enjoy a 2% rebate on purchases in Giant, and up to 1% rebate on non-Giant purchases.

Citibank Bhd’s business director (cards and unsecured loans) Vipin Agrawal said with nearly 50% of its customers obtaining their groceries and essential items from supermarkets, the card offered real value and would benefit everyone.

For customers looking to get free groceries at Giant with everyday spend, this was an incentive for them to consolidate their spend into this new Giant Citibank Credit Card, he said.

“This will provide an avenue for a more efficient method of managing household expenses,” he added.

He also said the partnership was in line with Citibank's regional strategy of establishing and promoting co-branding partnerships with strong brands that have extensive customer following and market influence.

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