For Immediate Release
    Citigroup Inc. (NYSE: C)
    March 4, 2013

    Citibank Launches Its First Global Credit Card for the Affluent Segment

    Singapore and Malaysia are the first two markets in the world to launch the new Citi Prestige Card


    For the first time, customers enjoy benefits globally and are rewarded with bonus points for the length of time they have banked with Citi

    Citibank Singapore Limited announced today that it has launched its’ first global credit card – Citi Prestige Card exclusively targeted at the affluent segment. Singapore and Malaysia are the first two markets in the world to launch the new card. Singapore customers will be able to apply for the card from Wednesday, March 6, 2013, via Citibank Online, CitiPhone and branches.

    This new card is the first global credit card offering from Citi and uses the bank’s unique global footprint and relationships to deliver a world of experiences to cardmembers at home or wherever they travel. Citi Prestige cardmembers around the world have one single point of contact and peace of mind that their relationship will be recognized in thousands of Citibank branches worldwide. Cardmembers also have access to a team of experts who are fluent in 20 languages and available 24/7.

    The Citi Prestige Card is also the first card that rewards customers based on their banking and credit card relationship with Citi. The depth and tenure of relationship with Citi and yearly retail spend by the customer will contribute to the Relationship Bonus points, which the customer can earn on top of his or her normal reward points. The Prestige Card, which is on the MasterCard World Elite platform, enables customers to redeem anything they want, from reward points to air miles depending on their preferences. The Global Prestige Card will be offered to customers with a minimum annual income of S$120,000.

    Mr. Han Kwee Juan, CEO of Citibank Singapore Limited, said: “At Citibank, we believe that it is important to anticipate our customers’ needs and wants, and tailor the most rewarding experiences for them. With the Citi Prestige Card, we are strengthening and broadening our card proposition to the affluent segment, giving them global access to world class services and experiences by leveraging on our global footprint and relationships. In addition, for the very first time, cardmembers will be rewarded for their relationship with Citibank. This is our way of showing our appreciation to them for choosing to bank with us. We believe that the affluent segment will benefit from this card, and enjoy the extensive rewards that come with it.”

    The Citi Prestige Card is the latest part of Citibank's strategy to serve clients along the wealth continuum and to strengthen our offering to clients in every segment, giving them a customized proposition as they grow in wealth and in the sophistication of their financial, credit management and lifestyle needs.

    Ms. Jacquelyn Tan, Managing Director and Head of Credit Payment Products, said: “Our current range of credit cards are tailored specifically to the needs of our various customer segments such as the Citibank PremierMiles1 card for the emerging affluent and the ULTIMA2 card for the high net worth. The affluent customer who is well-travelled and enjoys luxe experiences will be able to enjoy a variety of lifestyle and travel benefits anywhere in the world such as a VIP experience at Le Mans race course or diving in Oman.”

    The launch of the new proposition comes as both the number of individuals and the wealth of the emerging affluent in Singapore grow. According to Datamonitor, the affluent segment is targeted to grow 35 percent from 2011 to 2013. Customers are also extremely mobile, travelling overseas frequently for work or leisure. According to the World Travel & Tourism Council, travel, especially international demand, has remained largely resilient and exceeded growth in the wider global economy3. In addition, Asia is expected to continue to have strong growth in the travel sector in 2013.

    Added Ms. Tan: “This global lifestyle is evident amongst our customers, especially the affluent segment. One in three Citibank credit card customers used his or her credit cards overseas last year. We have also seen overseas card spend increase. Over the last three years, we have seen an average 15 percent year-on-year growth in overseas card spend.”

    Benefits of the Citi Prestige Card

    1) Get rewarded for your loyalty

    Cardmembers will be rewarded for the longevity of their relationship with Citibank. They will receive a relationship bonus, which is made up of a percentage of the cardmembers’ yearly card spend. The relationship bonus increases according to the spend and depth of relationship with Citibank.
     

    Tenure with Citibank 0-5 years 6-10 years >10 years
    Citigold/Citigold Private Client 15 percent 20 percent 30 percent
    Non Citigold/Citigold Private Client 5 percent 10 percent 15 percent

    For example, you are a Citigold client with an eight year tenure with Citibank and your annual card spend is S$100,000. Your relationship bonus rate would be 20 percent and you will receive a relationship bonus of 20,000 Citi dollars (8,000 miles) at the end of the membership year.

    2) Access and Privileges

    a. Global privileges for all Citi Prestige Card members around the world

    Prestigious travel benefits: Cardmembers enjoy up to 25 percent rebate on First or Business class international full fare tickets with participating airlines, fly in style on World Elite private jets and luxury cruises. These include airlines such as Etihad Airways, Japan Airlines, British Airways and Malaysia Airlines.

    Complimentary stay: Twice each year, cardmembers receive a complimentary fourth night of stay in more than 800 hotels worldwide, with no blackout dates or room type restrictions on these benefits. These include premium hotels such as Fairmont, InterContinental and St. Regis.

    Complimentary airport lounge access: Cardmembers receive complimentary access to more than 600 Priority Pass airport lounges across the globe four times per calendar year.

    Global access to events and experiences: Our dedicated team of experts will purchase tickets and help cardmembers gain admission to the world’s most coveted events from sporting tournaments to fashion shows or opening night of a big Broadway show. Cardmembers will also be able to make dinner reservations at the world’s finest restaurants and have their travel and entertainment requests taken care of. Cardmembers also gain access to a set of curated events and once-in-a-lifetime experiences, such as personal shopping in Paris, or diving in Oman. The dedicated hotline for Prestige cardmembers operates 24/7 in 20 languages from anywhere in the world.

    Access to 33 exclusively designed LUXE City Guides: 33 LUXE City Guides and mobile applications are created exclusively for Citi Prestige cardmembers and will provide customers with current information on what, when, where and how to get the best style and value out of cities across the globe. Travel itineraries are also specially designed for the cardmembers, with unique travel themes.

    Obtain discounts on global deals: With this global relationship, cardmembers now have access to discounts on their favorite brand-name merchandise and luxury brands to enhance their global and regional shopping and dining experience.

    b. Special Privileges for Singapore

    Be part of the exclusive Club 21 Shopping Program: Citi Prestige cardmembers get 10 Citi dollars for every dollar they spend at selected boutiques in Club21.

    Exclusive dining privileges: Cardmembers and one of their guests enjoy a complimentary glass of wine at well-known restaurants in Singapore, such as Salt Grill & Sky Bar, Prive, Zafferano, Bristeca and more. They also enjoy one-for-one promotions for house wines and beer at restaurants such as il Cielo Restaurant & Bar.

    Tee-off for free at some of the finest course: For cardmembers who enjoy a game of golf, they can tee-off at some of the finest golf courses in Singapore, Malaysia and China for free for three games per course per year. They are also invited to enjoy complimentary green fees at more than 2,400 public and private golf courses in Mexico, the U.S., Canada, the Caribbean, Europe and Africa.

    3) Rewards

    Empowerment in rewards selection: For every dollar spent locally, cardmembers will be able to earn 3.5 Citi dollars (1.4 air miles) and 5 Citi dollars (2 air miles) if spent overseas. In addition, cardmembers will receive 62,500 Citi dollars (25,000 air miles) as a welcome/annual bonus. The Citi Prestige card enables cardmembers to have the power of choice to use their reward points to redeem anything air miles or over 250 reward choices based on their preferences.

    Instant Citi Rewards – As part of Citi’s instant rewards program, cardmembers can redeem their Citi dollars instantly, even when they are overseas.

    1 Citi Premier Miles Card – eligible for customers with a minimum annual income of S$60,000

    2Citi ULTIMA Card – eligible for customers with a minimum annual income of S$1 million

    3World Travel and Tourism Council – Travel and Tourism Trends and Economic Impact, January 2013 Monthly Update

    Citi
    Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides 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, transaction services, and wealth management.

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