For Immediate Release
Citigroup Inc. (NYSE: C)
July 28, 2017
Citi Launches Citi Cash Back Visa Card
Best credit card for earning cash back rewards in Hong Kong
Hong Kong – Citi announced today the launch of the Citi Cash Back Visa Card, which offers
cardholders unlimited 2% cash rebate on local dining and hotel transactions, unlimited 1%
cash rebate on other local spending, and unlimited 2% cash rebate on foreign currency
spending, which effectively means having the 1.95% currency transaction fee waived -- the
most comprehensive year-round cash back rates offered in a single credit card in Hong
Kong.
The Citi Cash Back Visa Card provides a simple and straightforward way to reward
cardholders who prefer hassle-free reward redemption. The cash rebate, upon reaching
HK$200 or above, will be automatically credited to the card account in the next statement
cycle for offsetting outstanding balances and new purchases. No registration and reward
points conversion are required.
“As the world’s largest credit card issuer, we are committed to delivering competitive card
products that are relevant to our customers’ spending habits and preferences. Hongkongers
are known for their love for food and travel. With the new Citi Cash Back Visa Card, they are
able to earn unlimited 2% cash rebate when dining out, including hotel spending which in
Hong Kong are often not counted as eligible dining transactions. The unlimited 2% cash
rebate on foreign currency spending also makes the Citi Cash Back Visa Card the ideal
credit card for travelling abroad and shopping on overseas websites,” said Lum Choong Yu,
Head of Cards and Unsecured Lending for Citibank Hong Kong.
A research commissioned by Visa reveals that cash rebate is the most preferred credit card
feature across all customer segments in Hong Kong. “Hong Kong people love cash rebate
over other card features. Consumers have told us they want a reward program that is simple
to earn and easy to redeem. We are excited to see the launch of the Citi Cash Back Visa
Card with its clear and unlimited cash rebate earned,” said Caroline Ada, Country Manager
of Visa Hong Kong and Macau.
“Customers have different needs but one thing they share in common is their preference for
attractive rewards, simplicity, and convenience when choosing a credit card. With the
competitive cash back rates combined with the automatic, easy-to-understand reward
mechanism, we are confident that the Citi Cash Back Visa Card will become the go-to cash
back credit card for Hongkongers,” Lum added.
In July, Citi launched a new feature on the Citi Mobile App, which enables convenient credit
card activation and creation of logon ID on mobile phones. Customers who are not
registered Citibank Online users can also set up credit card ATM PINs through the app. This
follows the introduction of an innovative digital platform for credit card application in early
2016.
“With over half of our customers already digitally active, making banking easier, faster, and
safer by leveraging digitization and mobile technology remains a top priority for us. We will