Bank Rakyat’s Platinum Explorer Credit Card-i offers 5pc cashback
KUALA LUMPUR: Bank Kerjasama Rakyat (Bank Rakyat) has become the first bank in Malaysia to launch a travel credit card-i that offers customers a five per cent cashback of up to RM1,000 per year on hotel and airline ticket purchases.
Its acting managing director Datuk Rosman Mohamed said the Bank Rakyat Platinum Explorer Credit Card-i was a collaboration product with Mastercard.
“With more than six million customers and a total card base of 2.2 million currently, we aim to attract 1,000 new applicants per month for this newly-launched credit card.
“As at last month, there were more than 400,000 credit cardholders and we are aiming specifically at young Malaysian travellers based on the increased demand for intra-regional spending,” he said.
He said Bank Rakyat expected strong growth in overseas and travel-related spending.
The Bank Rakyat Platinum Explorer Credit Card-i is syariahcompliant and specially tailored for the frequent travellers segment.
Meanwhile, Mastercard AsiaPacific Pte Ltd country manager Perry Ong said the card marked a milestone for Mastercard as it featured a soon-to-be-launched global cash rebate programme that allowed cardholders to enjoy exclusive, automatic overseas cashback offers when they travel and shop.
“Together with Mastercard’s curated offers and exclusive privileges to shop, eat, stay and play at destinations around the globe, cardholders will be able to make the most of every travel moment, from planning to exploring at their chosen destinations,” Ong added.
The benefits of the newly launched credit card included complimentary three times access to Plaza Premium Lounges in Malaysia per year, access to Mastercard Priceless Cities and Priceless Specials offers, earn Rakyat Reward points to redeem cash, a zero markup on foreign exchange and no annual fee.
All Bank Rakyat credit cardholders will also enjoy unlimited five per cent petrol cashback every Thursday at all petrol stations nationwide from next month to December.