OCBC Bank introduces the OCBC 90°N Visa Card, offering travel-themed rewards and versatile cashback options for everyday spending. The card aligns with the resurgence of travel plans and popular demand for rewards, targeting Malaysian travellers seeking tailored benefits for their journeys.
17 August 2023 – OCBC Bank (M) Bhd has introduced the OCBC 90°N Visa Card, a travel-themed credit card designed to cater to travellers’ preferences. While offering travel-related rewards, the card also provides popular reward options like points for everyday spending, which can be easily converted into cashback via OCBC internet banking or the OCBC Malaysia Mobile Banking app.
With every transaction made using the OCBC 90°N Visa Card, cardholders can accrue reward points called Travel$. Each ringgit spent domestically earns 1 Travel$, and this reward increases to 5 Travel$ for equivalent overseas expenditures, according to OCBC Bank. Beyond travel perks, the card features additional benefits such as complimentary access to Plaza Premium lounges at Kuala Lumpur International Airport (KLIA) and klia2 in the first year, along with travel insurance coverage of up to RM1 million encompassing death and permanent disability.
Anne Leh, the Managing Director and Head of Consumer Financial Services at OCBC, emphasized the card’s alignment with the return of travel plans and the rising demand for rebates and rewards among Malaysians. She cited Visa’s Global Travel Insight report, predicting a full recovery for the global travel and tourism industry within three years post-pandemic, with the Asia Pacific region expected to reach its 2019 outbound travel levels by July 2023.
First-time OCBC credit card applicants are eligible for a welcome offer of up to RM300 in travel rewards, which includes bonus Travel$ for expedited cashback redemption. Additionally, they can enjoy discounts on Grab Rides and travel excursions booked via Klook by successfully applying for the card and spending a minimum of RM1,500. This promotional campaign runs until October 31, 2023. For new OCBC Credit Card customers, the annual fee is waived for the first year.
In response to the card’s launch, Leh noted that overseas credit card expenditure among OCBC cardholders has surpassed pre-pandemic levels, showcasing strong growth in this segment. The OCBC 90°N Visa Card is strategically positioned to resonate with Malaysian travellers seeking tailored rewards for their journeys. – reference: The Star