Business Services Industry
HONG KONG: ASIA COMMERCIAL BANK LAUNCHES VISA CARD.(Brief Article)
IPR Strategic Business Information Database, February, 2001
According to Hong Kong Post (February 21, 2001), Hong Kong-based Asia Commercial Bank launched a VISA card, despite the intensive competition in the credit card market. To get a slot in the market, the Asia Commercial Bank offers a permanent annual fee waiver for the cardholder and the annual interest rate is only 13.8 percent, which is the lowest in Hong Kong.
Cardholders can also receive instant cash rebate of up to 0.6 percent on card spending. The credit card business will be one of the major areas of development for the bank this year.
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