Press Release July 14, 2011 Citi Cards Japan, Inc. Citi Cards Japan to Launch a New Credit Card Citi Cash Back Card

Transcription

1 Press Release July 14, 2011 Citi Cards Japan, Inc. Citi Cards Japan to Launch a New Credit Card Citi Cash Back Card Enhanced Services for the Lifestyle-oriented Younger Generation Featuring a 1.75% Cash Back Rate Citi Cards Japan, Inc. (hereafter Citi Cards Japan ) announced today the launch of a new credit card, Citi Cash Back Card with membership application open from July 15, The introduction of this new card is part of the efforts Citi Cards Japan is making this year to enhance its services targeted at the hard-working, lifestyle-oriented younger generation who is looking for the best value from its money and enjoys spending its free time shopping, dining, and sharing entertainment with friends. The segment accounts for approximately 7% of the Japanese population, aged between mid 20s to late 30s, and is expected to develop into a major contributor to the Japanese economy in the future. Through its expansion into this growing segment, Citi Cards Japan aims at gaining 150,000 Citi Cash Back Card members over the next three years. According to a survey conducted by Citi Cards Japan, approximately 40% of men and women in their 20s and 30s indicated that the most desired benefit of a credit card was a cash back feature. Responding to this need, Citi Cards Japan is introducing its new Citi Cash Back Card, based on a simple and straightforward scheme, the card provides a cash rebate on all purchase transactions which is automatically granted on the statement in the following month. The maximum cash back rate is 1.75% with spending alone, and 3%* for customers using revolving credit, both of which is among the highest levels in the industry. There is no required minimum monthly credit card purchase amount eligible for cash back and any amount more than 0 yen will be eligible for cash back at a minimum rate of 0.25% and up to a maximum rate of 1.5%. Additional cash back will also be granted at a rate of 0.25% on yearly credit card purchases if the yearly purchase amount is at least 500,000 yen and 1.25% flat on any usage of revolving credit. The Citi Cash Back Card s card holders can enjoy existing Citi special privileges such as Dining Cash Back, which offers a maximum 20% off at approximately 600 affiliated restaurants nationwide in Japan, and Citi World Privileges, which offers thousands of benefits to card holders when travelling abroad in 93 countries. (Please see appendix 3) Accessible services such as 24H/365 days customer care helpline access, E-statements, Buyers Protection up to 500,000 yen and Citi alerts to update customers on their spending are also available. 1

2 Marco Reverdito, Representative Director, President and CEO of Citi Cards Japan, commented: We offer a comprehensive line-up of credit cards to help customers enjoy the most value from their daily spend through propositions customized to meet the needs of their busy lifestyle. Through extensive research, we identified a real need among men and women in their 20s and 30s for a simple cash back scheme. By listening to the opinions of consumers and leveraging Citi's global expertise, we have developed a new credit card we hope will be widely used among the hard-working younger generation with a promising future and a busy schedule in both their business and private lives. Citi Cards Japan continues to look to expand its services and benefits to satisfy the needs of credit card holders in Japan. *Cash rebate will be granted at a rate of 1.5% on monthly credit card purchases if the monthly purchase amount is at least 200,000 yen, 0.25% on yearly credit card purchases if the yearly purchase amount is at least 500,000 yen, and 1.25% on the yearly usage of revolving credit. In total, the maximum rate of cash back amounts to 3%. # # # Media Contact: Tel: About Citi Cards Japan, Inc. Citi Cards Japan, Inc. operates the credit card business in Japan for Citigroup, one of the world's largest issuers of credit cards. Citi Cards Japan brings together the strengths of Diners Club, a credit card pioneer in Japan renowned since 1960 for its service and status, and Citi Card, which leverages Citigroup's expertise in global markets to offer a quality suite of products and services for its card members. 2

3 APPENDIX 1. Citi Cash Back Card s Card Face 2. Mechanism of Monthly Cash Back 3

4 3. Cash Back Card Overview Annual Fee JPY3,150 (Family: JPY525) Global Brand Card Level Card Credit Limit (in time of enrollment) VISA Gold Level Up to JPY1 MM Closing Date / DD Date 15th of every month / 10th on the following month*¹ Payment Method Direct debit *² Monthly 0.25% - 1.5% Cash Back Annually (Shopping) Annually (Revolving) 0.25% (with spending conditions) 1.25% Cash Back Limit Up to JPY30,000 annually Buyer's Protection VISA Gold Included Services Up to JPY500,000 annually < Time-limited services > 1. Deliver one suitcase at JPY500 from an airport to home after returning from overseas 2. Discount Wi-Fi router (available in 39 countries / regions globally) rental fee from JPY1,580 / day to JPY1,000 / day 3. 10% discount for spending of JPY8,000 or more in shopping at Narita Airport (Japan Duty Free) and Haneda Airport (Tiat Duty Free Shop Central) 4

5 Citi Card Included Services Dining Cashback*³ Citi World Privilege*⁴ *¹ On 8th in the case of some financial institutions. If such date is not a business day of financial institutions, the next succeeding business day shall be the date of direct debit. *² JP Bank, Rakuten Bank, Shinkin Central Bank, Norin-chukin Bank, Shin-ginko Tokyo, Seven Bank, Sony Bank and HSBC are not applicable. *³ Dining Cashback Service: With the Dining Cashback service, you can get up to 20% cash back when you use your card for dining at any of our approximately 600 affiliated restaurants nationwide. You register your credit card issued by Citi Cards Japan for this service in advance (no registration fee or membership fee) and use it for payment at a restaurant. Then, you can get cash back automatically. (Some credit cards are not applicable to this service.) The amount of cash back will be reflected in the statement of the month after the next month or later and will be paid back on the settlement day. There is no need to present a coupon or to state that you are using this service at the restaurant. For more info, please visit here: *⁴ Citi World Privilege: With Citi World Privilege, Citi offers preferential services for travel, dining and shopping at 3,122 merchants in 93 countries. It is a customer-oriented program leveraging the network of Citi, which develops global business. This program is available for the use of credit cards issued by Citi Cards Japan. Various services are provided: room upgrading at partner hotels for free, further discount from the best price offered by partner hotels, welcome drink at partner restaurants, special menus, dining discount for your guests, etc. For more info, please visit here: 5