Maybank and American Express today launched the American Express® Gold Credit Card, which sets a new benchmark in terms of revolving interest rate charged, rewards point earn rate and overall savings in Malaysia.
The Card is the first credit card in Malaysia to offer the lowest revolving interest rate among all cards in Malaysia, 9% per annum, with a special introductory offer of 0% finance charge till end December 2009. In addition, it offers high loyalty rewards with Cardmembers receiving 5 times Membership Rewards points for every Ringgit charged on groceries, petrol and telecommunications services through express autopay, and at selected bookstores. For all other purchases in Malaysia and around the world, Cardmembers receive double Membership Rewards points for every Ringgit charged. Cardmembers will also enjoy a lifetime annual fee waiver and complimentary supplementary cards.
Speaking at the launch of the new Card, Maybank Head of Consumer Banking, Lim Hong Tat said that the introduction of the new Card with such a strong value was testimony to the Bank's leadership in the cards business and its ability to create niche markets within a previously under-tapped market segment.
"The 0% interest and lowest finance charges together with the unmatched privileges and prestige of the American Express brand, offers a compelling value proposition to customers seeking a fresh approach from a card that truly understands and responds to their needs, particularly in today's challenging times," added Lim.
The Card, he added, was designed to respond to the needs of young and affluent individuals who sought the distinct benefits of American Express Cards as well as superior rewards and savings from their credit card.
Kula Kulendran, Senior Vice President, Head of Global Network Services, American Express, Japan, Asia Pacific & Australia, said, "The introduction of the American Express Gold Credit Card in the Malaysian market starts a new chapter for American Express and Maybank and takes our partnership to new heights. American Express is a leader in premium cards, both globally and locally. We are the innovator and trend-setter of premium products, and have been successful in bringing a group of very loyal, affluent and high spending customers to the American Express franchise. This launch reinforces our leadership position and heritage in the affluent customer segment, and expands our existing portfolio of premium cards to serving young affluent in this vibrant customer segment."
Lim added that the low financing charge was a reward to customers for their consistent commitment in meeting their monthly payment of outstanding balances.
"This benefit is part of Maybank's holistic strategy and a reflection of our core values in building relationships with customers. We also have a year-round exclusive rewards programme for American Express Cardmembers in partnership with our wide merchant network that offers significant discounts and savings," he said.
Lim said that the launch of this new Card during challenging times, attests to Maybank's responsiveness to provide innovative products that meet the needs of particular consumer segments. "The new Card expands Maybank's leadership in the cards business with the largest range of cards in the nation. With access to the nation's largest payment and delivery channels as well as American Express' worldwide network, the Card will fulfill and exceed Cardmembers' needs."
The new American Express® Gold Credit Card is accepted on the American Express global merchant network. Cardmembers can also enjoy privileges and discounts offered by thousands of merchants online through global eshop platform, and offline through the American Express Selects program.
Maybank is the sole issuer of American Express credit and charge cards and merchant acquirer in Malaysia.