CIMB to boost Direct Access card base by 15pc yearly

Published: 2008/06/16

CIMB Bank Bhd aims to grow its Direct Access credit card base by 15 per cent per year, as it ties up with professional associations.

"Direct Access targets graduates and professionals. Therefore, we will be working with professional associations to sign up members," said head of direct banking and cards, Yap Yoke Yuen.

Yap was speaking to reporters after CIMB Bank launched the Direct Access Malaysian Bar MasterCard for members of the Malaysian Bar Council on Friday in Kuala Lumpur.

With a current base of 250,000 Direct Access cardholders, CIMB Bank has tied-up with other professional associations such as the Association of Chartered Certified Accountants and Malaysian Medical Association to increase its customer base.

The bar council has 12,500 members, of which 2,000 members have been signed up for the card.

The Direct Access Malaysian Bar Mastercard is a free-for-life credit card, without annual fees.

"We are able to provide members of the Malaysian Bar with innovative solutions for their various financial needs, from obtaining loans and making payments," said CIMB Bank chairman Tan Sri Haidar Mohamed Nor at the launch ceremony.

Benefits for card members include a two per cent rebate at all petrol stations nationwide, a bonus point for every ringgit spent, discounts at over 500 merchant outlets and flexi pay plan on purchases above RM1,000 at any retail outlet.

Haidar, former chief judge of Malaya, added that the bank will channel a percentage of spending on the cards back to the bar council to fund its activities.