Citibank Plays Another Winning Hand In The Cards Market

Citibank Plays Another Winning Hand in Cards Market

27 June 2009

Citibank is continuing to bring much needed competition to the
Australian credit card market, winning two more industry awards for excellence.

Citibank was crowned Credit Card Issuer of the Year by Money Magazine for two MasterCards it created for CUSCAL, a distributor of financial services to credit unions. The Low Rate MasterCard and the Rewards MasterCard were singled out for offering customers the lowest rates, competitive annual fees and standout features.

In addition to this, Citibank has beaten every other bank in Australia to win the title of best credit cards website in the country in the Global Reviews half yearly benchmark survey. The survey assesses applications, product information, internet banking, customer support and rewards programs on lenders' websites.

"We are sending a clear message to Australian consumers that Citibank is focused on delivering value and a range of credit cards to suit the diverse needs of customers," said Madeline O'Connor, Head of Credit Cards for Citibank Australia.

"We aim to provide superior service, products and the best online experience in credit cards, and these awards are evidence that Citibank is doing just that."

Citibank is Australia's fifth largest credit card provider with more than 57 different cards under the Citibank umbrella. It does this through its own-brand cards, co-brand or `partner' cards and `white label' cards which feature the partner's brand only. Currently, Citibank issues credit cards for building societies, CUSCAL credit unions, Bank of Queensland and Suncorp and offers two co-branded cards with Emirates and BP.

"We are seeing a growing demand from organisations that want the backing, expertise and solid track record of a larger bank like Citibank to produce cards products tailored to the specific needs of their customers. But it's more than just the products; they also want the technology platforms and portfolio management capabilities to go with those cards to ensure the best overall experience for their customers.

"These awards for `best credit cards website' and `credit card issuer of the year' continue to prove that Citibank is the market leader in this space in Australia, and that our experience and innovation in credit cards is an important point of difference for customers looking for an alternative," Ms O'Connor said.

Media enquiries:
Erin Campbell: T: (02) 8225 1658 M: 0438 285 152 [email protected]
Kristen Kaus: T: (02) 8225 1631 M: 0421 380 773 [email protected]

Notes to editors:

Product information

Rewards MasterCard The everyday credit card with more rewards
- $1 spent equals 1 Card Services Rewards point
- Excellent value Card Services Rewards
* rewards points that don't expire
* over 300 items on offer including vouchers, merchandise and much more.
* access to online travel website
* redeem online or over the phone
- Save on balance transfers with a low interest rate of 4.9% p.a. for the life of the balance transfer
- Low annual fee - $45 on silver and $85 on Gold
- Great interest free period - up to 55 days interest free on purchases
- Up to four additional cards, free.
- Complimentary purchase cover
- Great value on Gold
* complimentary International Travel Insurance
* higher credit limits

Low Rate MasterCard - The credit card with a great low rate and big savings.
- 2.9% p.a. for 6 months on balance transfers and 11.85% p.a. on purchases
- Low annual fee - $45 on silver and $85 on Gold
- Great interest free period - up to 55 days interest free on purchases
- Up to four additional cards, free.
- Complimentary purchase cover
- Great value on Gold
* complimentary International Travel Insurance and Interstate Inconvenience Insurance
* higher credit limits

Terms and conditions, fees and charges apply to the Rewards and Low rate MasterCard Cards.

Citi, the leading global financial services company, has some 200 million customer 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 and Citi Smith Barney. Additional information may be found at www.citi.com.au

SOURCE: Citibank