Credit Card

Everywhere I go, I am seeing all kinds of credit card promotion. It is really getting competitive. Frankly speaking, I am only holding one UOB bank credit card. Recently, they offered me an upgrade with 100,000 points free and a life time annual fees waiver for 2 cards VISA & MASTER. This is what I get for sticking with them for 10 years. It does pay off. I stuck with them because I really impressed with their service and very prompt. However, they have to improve their reward point gifts. None of the gifts are attractive enough for me to exchange.

My Singaporean friends told me that they hold a lot of different cards because it is treated as discount cards. Some popular stores will give discount if you charge to this. I got a few discounts myself when I charged my card there too.

Credit card companies here should think about what consumer wants. It is time they do market survey. It is not enough just offering membership gifts but to make your customer stay with you forever. Opps I meant as long as they lived.

Think About:

- Giving discounts at most popular stores like MPH, Popular, Jusco, Tesco, Giant, Guardian, Watson, Coffee Bean, Starbucks, etc etc. I have the whole list of stores they gave me discount but none of which is popular.
- Giving discounts at petrol stations, everyone needs petrol.
- Giving vouchers at popular stores as reward points’ exchange, I know 1 or 2 banks doing that.
- Giving free passes to movies.
- Giving actual cash back. I love this. :good:

Bottom line they need to retain their customers. They have to think out of the box and bring up innovative ideas to be the top of their competitors. Otherwise, it is just another gimmick and waste of resources.

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