“Our premise, when it comes to Standard Chartered credit cards is that we offer true value as our product differentiator;’ stated Sabry Ghouse, Head of Consumer Banking while briefing media on the bank’s plans for their cardholders in 2006.
“We have always led the way with innovation but if it does not have real value, it ends up being merely a short term gimmick. We were the first Credit card issuer in the country to launch a loyalty points scheme, which is now a norm in the industry but we made sure it was the best in the market. The scheme allows customers to redeem each point for one full rupee, one-for-one.”
He added that the redemption outlets have been selected in keeping with the varied preferences and lifestyle choices of SCB’s credit cardholders.
The Bank also launched the first co-branded credit card that rewards customers with air miles. Again the Bank kept it simple, no registration merely one air mile for every Rs 100/- spent on the card, which is accumulated automatically. To ensure true value Standard Chartered has tied up with Skywards, the frequent flier programme of Sri Lankan and Emirates. Furthermore, the bank also partnered with Ode! in an exclusive Valentines offer for their credit cardholders. The offer included a 10% discount at Ode! for all Standard Chartered Credit card holders.