Citibank Korea Inc. Launches the Citi PremierMilesTM Credit Card

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2009-03-17 13:37

Seoul--(뉴스와이어)--Citibank Korea Inc. today announced the launch of the Citi PremierMiles Credit Card, a premium mileage & travel card, introducing a new and unique concept in travel cards to the Korean market, leveraging Citi’s partnerships with major airlines around the world.

Citi PremierMiles card offers customers the opportunity to accumulate PremierMiles based on their daily spending and the freedom to convert their earned PremierMiles into different frequent flyer programs at any time or to get cash back. Citi PremierMiles will help customers to optimize the utilization of airline miles and maximize their free travel. More importantly, customers can use their miles at any time since PremierMiles never expire.

"The Citi PremierMiles card is designed to give our customers the best value on their everyday purchases and to reward their preference and loyalty. It allows frequent travelers to maximize the benefits of air miles and the free flights associated with them, by providing greater choice and more flexibility. This product has been successfully introduced in other markets in the region and we have high expectations for Korea to leverage from other partnerships we have with other airlines around the world. Our goal for PremierMiles is to become the best premium mileage and travel card in the market” said Sergio Zanatti, Cards Business Director, Citibank Korea Inc.

Citi PremierMiles cardholders get a competitive accumulation rate of 1 PremierMile for every KRW 1,000 in retail spending on their cards. Cardholders will receive a first year activation bonus of 5,000 Premier Miles, as well as an annual spending bonus of 5,000 PremierMiles for spending between KRW 20 MM and 40 MM per year, 8,000 PremierMiles for spending over KRW 40 MM per year, and 50,000 PremierMiles for spending over KRW 100 MM per year. An added value for card members is that PremierMiles never expire until they are transferred to airline frequent flyer programs or exchanged for cash.

Citi PremierMiles Card in Korea will be available in two versions: PremierMiles Asiana and PremierMiles Korean Air. For PremierMiles Asiana, PremierMiles can be converted into miles on five (5) airline frequent flyer programs, including Asiana Club, Singapore Air Kris Flyer, Northwest Airlines WorldPerks, Cathay Pacific Asia Miles, and Thai Airlines Royal Orchid Plus programs; or converted into cash.

For PremierMiles Korean Air, PremierMiles can be converted into miles on Korean Air SkyPass, the same four foreign airline frequent flyer programs, or converted into cash. For either version, 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.

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.

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.

Leveraging on Citi’s banking network, PremierMiles cardholders will receive an invitation to enjoy a 6-month Citigold experience with preferential services such as a dedicated Citigold Executive and global banking benefits unique to Citi. Annual fee for the PremierMiles Card is KRW 120,000 and the applications will be accepted from Mar 17, 2009. This product has already been successfully introduced in several markets in the Asia Pacific region, including Singapore, Philippines, Hong Kong, and Taiwan.

Citi

Citi, the leading global financial services company, has some 200 million cardholder accounts and does business in more than 100 countries, providing 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. Citi's major brand names include: Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.

웹사이트: http://www.citibank.co.kr