Hong Leong new credit card to offer cash

Hong Leong Bank launched the first-to-market credit card to offer customers real cash.

“Instead of reward points or cash back for the usage of the card, customers will now receive real cash earnings which will be accessible to card members at any time, anywhere via HLB’s wide network of ATMs,” said HLB’s chief operating officer for personal financial services, Moey Tan.

“From our proprietary research, consumers are keen on the concept that they get to enjoy rebates from all retailers with no specific time/days constraint. The basic consumer expectations from a credit card lies in the simplicity, flexibility of spending habits and more savings compared to existing cards in the market,” she added.

Tan explained that the Hong Leong Fortune Credit Card offers customers a reward scheme in the form of cash. Every time a customer spends with the card, he/she will earn real cash of one per cent of every transaction, anytime, anywhere.

“Added to this, card members are paid interest equivalent to the three-month fixed deposit rate on cash accumulated in their Fortune account. To top it all, an annual bonus is rewarded to card members based on their total cash earnings at the end of 12 months. The real cash earned will not expire and it offers customers the flexibility of withdrawing it anytime via ATM or potentially to offset the card balances,” she highlighted.