Bangkok--9 Jan--KASIKORNBANK
To reinforce KBank’s credit card leadership, the Bank will introduce “K-Credit Card: Your Spending Companion”, offering 20x reward points 365 days a year, as well as chances to win exclusive trips to dream destinations. The campaign, to start on February 1 and continue until January 31, 2016, aims to increase new credit cards by 1 million, with 360 billion Baht of card spending, or growth of 29 percent.
According to Mr. Thawee Teerasoontornwong, Executive Vice President of KASIKORNBANK, K-Credit Cardholders as of the end of 2014 totaled 3.6 million, up 16 percent from 2013, with 280 billion Baht of card spending, or an increase of 20 percent. K-Credit Card remains the nation’s top credit card in terms of spending, particularly for dining, tourism, shopping and healthcare, with growth higher than that of the overall industry.
For 2015, KBank is planning to increase its credit cards by 1 million, with 360 billion Baht of card spending, or growth of 29 percent, by launching “K-Credit Card: Your Spending Companion” with the aim of boosting card spending for the entire year and accommodating cardholders’ diverse lifestyles. Cardholders (with the same name and family name) who spend via any K-Credit Card at least once a day, from February 1, 2015 to January 31, 2016, will be offered 20x reward points for all card spending during this period, or a maximum of 1 million reward points.
Customers using their K-Credit Card at any supermarket or hypermarket during a weekday, or at any restaurant during a weekend, will be given 2x reward points for every 1,000 Baht they spend. Moreover, their reward points, equaling bill amount, can be redeemed for a discount of up to 15 percent at Central Department Stores, The Mall, Siam Paragon, The Emporium and Robinson Department Stores nationwide from February 1 to December 31, 2015.
In addition, K-Credit Cardholders who love travel and spend 1,000 Baht from January 8 to March 31, 2015, will be given a chance to win an exclusive trip to a dream destination, as well as other gifts, available for the entire year. The first trip is destined to Japan’s Hokkaido. Customers can ask for more details at www.askkbank.com/kbankcard or call the K-Contact Center at tel. 0 2888 8888.
Mr. Thawee added that despite the economic slowdown, K-Credit Card continued to grow at a higher rate than the overall industry in 2014, particularly during the period close to the new year, when consumers used credit cards to pay for festive activities and the long holidays.
In 2015, although the economy is expected to improve from the previous year, a Kasikorn Research Center (KResearch) survey has found that almost half of respondents plan to reduce their card spending to cope with rising expenses and to boost savings. Their concerns include increasing costs of living, household debts, etc. However, KResearch is of the view that the credit card business will still grow compared to 2014, in line with higher credit card numbers, although the growth will be modest. Credit card spending in 2015 is forecast to reach 1.28-1.295 trillion Baht. Therefore, KBank is confident that the “K-Credit Card: Your Spending Companion” campaign, which focuses on customers’ demands for all lifestyles, will make card spending via K-Credit Card soar beyond the market average. This will maintain the Bank’s leadership in the credit card market.