AirAsia and DBS Bank launch new Credit Card

DBS Bank and AirAsia today unveiled a new Mastercard credit card designed for smart and trendy travellers in Singapore. Called the AirAsia Credit Card, it offers cardmembers a fast way to redeem free flights with AA$ cash rebates.

Compared to existing credit cards' frequent flyer programmes which require cardmembers to spend at least $40,000 to accumulate enough frequent flyer miles to redeem a return ticket to Bangkok, Air Asia Credit Card members only need to accumulate AA$120 to redeem an AirAsia return ticket to Bangkok. AA$120 can be earned from charging between $480 to $24,000 to the new Card, depending on the amount of cash rebates granted by the different participating merchants.

The AirAsia Credit Card follows the Memorandum of Understanding (MOU) signed between DBS and AirAsia in September last year.

Under the MOU, DBS will issue a co-branded card with AirAsia in the region covering countries like Malaysia, Thailand and Indonesia; and any other new destination as AirAsia expands it network.

Mr Edmund Koh, DBS' managing director and head of Consumer Banking Group Singapore said: "As low-fare, no-frills air-travel take off in the region, there will be an increasing number of travellers on budget airlines like AirAsia. With its wide array of benefits and privileges, the AirAsia Credit Card is designed for this group of customers, those who want the best value for their money. With this card, they will be able to accumulate the cash rebates quickly and redeem free flights with AirAsia.

He added: "Another unique feature of this card is that cardmembers enjoy benefits and privileges that cut across the region. For a start, besides shopping privileges in Singapore, cardmembers also enjoy an exclusive 5% discount at Central Chidlom in Bangkok, where some of Thailand's best department stores including Marks & Spencer, Zen and Supersports are located. Cardmembers will also earn cash rebates on purchases made at these stores with the Air Asia Credit Card."

Mr Tony Fernandes, Group Chief Executive Officer, AirAsia said: "We are delighted to partner with DBS to develop a new co- brand credit card. The credit card is a first for AirAsia. The partnership with DBS is also a new development for our airline as we continue to explore ways to become a one-stop centre in the region to offer our guests services that are more than just low fares. The AirAsia Credit Card experience provides our guests with not only discounts and benefits from participating merchants, but it is also a unique card which earns you free flights on any AirAsia routes."

Mr T V Seshadri, vice president and country manager, Singapore, MasterCard International said: "The launch of the DBS Air Asia MasterCard card clearly demonstrates that there is significant potential in the travel sector for innovative products. With the unique proposition and revolutionary rewards program that this card offers, a whole new world of travel and priceless experiences has opened up overnight for consumers in Singapore." 

AA$ is the rewards programme of the new credit card where cardmembers can accumulate rebates in the form of AA$. The rebates of up to 25% of the dollar value spent are given out by more than 100 merchant outlets in diverse businesses like food and beverage, beauty, health, fashion, hobby, and home décor.

In addition, DBS will award bonus AA$ to card members based on the outstanding balance in their accounts at the end of each month. With the accumulated AA$, cardmembers will be able to redeem free flights to any of AirAsia's domestic and international destinations.

The AA$ is as good as real money - one AA$ is equivalent to S$1 - and can also be used to offset purchases at participating merchants. 

As part of the launch promotion, successful applicants will enjoy a two-year waiver of annual fees, preferential rates and double protection on the TravellerShield Plus travel insurance programme and receive a Samsonite travel pouch. AirAsia Credit Card members will also enjoy the range of benefits available to other DBS credit cardmembers, such as 0% Interest Instalment Plan, special rates for balance transfers and a subscription to the DBS Cardshield protection plan.