First travel credit card issued in Vietnam

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Citibank Vietnam and MasterCard on Thursday issued the first travel credit card in Vietnam that will grant frequent flyer mileage points.


The Citibank  targets high-income earners in Hanoi and Ho Chi Minh City who travel abroad often.


The card uses the EMV chip, which stands for Europay, MasterCard and VISA, to improve security against fraud.


PremierMiles card holders will get one Premier Mile for every VND20,000 they spend or withdraw in cash using the card, 1,000 mileage points for each extension to the card and 5,000 points if they spend more than VND500 million (US$25,600) a year using the card.


Mileage points accummulated can be exchanged for air tickets for most flights from and into Vietnam, including those of Vietnam Airlines and Singapore Airlines.


The card has been issued in seven other countries.


Antonio Corró, MasterCard's country head and chief pepresentative for Indochina, said a recent travel survey by MasterCard showed that one out of four consumers in the Asia Pacific region are interested in travelling.


So MasterCard has cooperated with Citibank to launch the card in Vietnam to meet the country's demand, he said.


"The Citibank PremierMiles Credit Card differentiates itself by offering frequent flyers a 'universal' mileage platform that enables them the unique freedom and flexibility to earn miles on their travel on over 50 domestic and international airlines," a Citibank statement said.


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