With regards to your previous post..my bad. It should be Xtra
Saver.
Yeah true, different privileges come with different types of cards.
But if you think about it, will the Citi Clear Card serve the needs
of the intended target market better than say, a UOB Mini debit?
Plus the Citi card doesn't come with alot of privileges to begin
with. Let's not talk about golfing and spa privileges...these are
all not applicable. Simply put, what the Citi card can do, a UOB
debit card can do most of it. At least the $500 credit part, which
to me is pathetic.
Now to answer your qn, why are banks trying so hard to sell their
credit card? Because this is the only way they can loan money at
that high an interest rate. And did I mention the annual fees? How
about the % of the sale amount they get from credit card firms?
Credit card is a big cash cow for banks, period.
And by the way, debit card holders do enjoy instant discounts as
well.
