Table of Contents
- CHAPTER 1 INTRODUCTION
- Scope of the briefing
- How do you use this briefing?
- CHAPTER 2 WHERE DO PREMIUM CARDS FIT IN?
- What are premium cards?
- Premium branding is used as a means of customer segmentation,
acquisition and retention
- Financial institutions use premium cards to target the wealthy
- Wealthy customers demand different financial products and services
to the mainstream market
- Bestowing prestige and receiving higher levels of customer retention
- The effects of premium branding since its inception in the world of
credit cards
- Premium brands that have lost their exclusivity
- Platinum was introduced to become the 'premium card'
- The premium cards market is driven by market supply
- Some issuers have already devalued platinum cards
- There are several 'levels' of premium cards
- The ways in which issuers benefit from premium cards
- Increased revenue from premium cards
- Premium cardholders spend more than standard cardholders
- Higher interchange revenue
- Issuers benefit from the higher annual fees attached to premium cards
- Income information gathered with credit card applications can lead
to cross-sale opportunities
- The benefits of a more esteemed brand
- The increased customer loyalty from premium cardholders
- Premium branded cards offer several advertising benefits and act as
"billboard" for the issuer
- CHAPTER 3 PREMIUM CARDS IN AUSTRALIA
- The credit card market in Australia
- Premium cards by scheme
- There were approximately 2.8 million premium credit cards in
Australia at the end of 2005
- Visa
- Visa had approximately 1.6 million premium credit cards in Australia
at the end of 2005
- MasterCard
- MasterCard had 5.3 million credit cards issued in Australia at the
end of 2005
- MasterCard has approximately 1 million premium credit cards issued
in Australia
- American Express
- American Express has approximately 650,000 credit cards in Australia
- Analysis of schemes available in Australia
- Premium credit cards offered in Australia
- American Express
- ANZ Bank
- ANZ offers three gold credit cards
- Citibank
- Citibank offers two premium cards, one gold and one platinum
- Commonwealth Bank of Australia
- The Commonwealth Bank of Australia offers two premium cards, a gold
and a platinum card
- HSBC
- HSBC is not a major Australian credit card issuer however it has
begun pitching towards the mass market
- National Australia Bank
- National offers two gold cards, the National Gold Card and the
Velocity National Gold American Express Card
- St George Bank
- St George offers just one gold card, the Gold Low-rate card
- Westpac Banking Corporation
- Westpac offers three premium credit cards,a gold card, the Altitude
Gold and Altitude Platinum cards
- Analysis of premium cards available in the Australian market
- CHAPTER 4 PREMIUM CARDS IN HONG KONG
- The credit card market in Hong Kong
- The number of credit cards has grown by an average rate of 2.4% over
2001-2005
- Premium credit cards in Hong Kong
- There were 5.4 million premium cards in Hong Kong at the end of 2005
- Visa
- Visa had 3.1 million premium credit cards in Hong Kong at the end of
2005
- MasterCard
- MasterCard had approximately 2.2 million premium cards in Hong Kong
at the end 2005
- American Express
- American Express had approximately 98,00 premium credit cards in 2005
- Other schemes in Hong Kong
- The total market includes other schemes such as Diners and JCB
- Analysis of schemes available in Hong Kong
- Premium credit cards offered in Hong Kong
- American Express
- American Express has three premium card in Hong Kong
- Dah Sing
- Dah Sing offers four premium credit cards
- HSBC
- HSBC has four premium cards on offer
- Standard Chartered
- Standard Chartered has two premium cards on offer
- Analysis of Hong Kong's premium cards
- CHAPTER 5 PREMIUM CARDS IN NEW ZEALAND
- The credit card market in New Zealand
- The number of credit card accounts in New Zealand exceeded 2.4 million
at the end of 2005
- Visa
- Visa had issued 422,000 premium cards by the end of 2005
- MasterCard
- MasterCard held approximately 182,000 premium credit cards in New
Zealand at the end of 2005
- American Express
- American Express credit cards numbered 124,000 at the end of 2005
- Analysis of schemes available in New Zealand
- Premium credit cards offered in New Zealand
- ASB Bank
- ASB Bank issues two gold credit cards
- ANZ Bank
- ANZ offers three gold cards including a Qantas Visa Gold Card
- Bank of New Zealand
- Bank of New Zealand offers many different premium credit cards
including a card that is attached to its private bank
- National Bank of New Zealand
- National Bank of New Zealand offers two gold credit cards
- Westpac Banking Corporation
- Westpac offers more innovative benefits on its two premium cards
- Analysis on the premium credit cards in New Zealand
- CHAPTER 6 PREMIUM CARDS IN SINGAPORE
- The credit card market in Singapore
- The number of credit cards has grown by an average rate of 12.5% over
2001-2005
- Premium credit cards in Singapore
- Visa
- There were just fewer than 2.6 million Visa cards in Singapore at
the end of 2005
- MasterCard
- There were just fewer than 1.4 million MasterCard credit cards in
Singapore at the end of 2005
- American Express
- American Express was had 115,000 credit cards at the end of 2005
- Other schemes in Singapore
- Diners and JCB held similar market shares with approximately 29,000
cards on issue at the end of 2005
- Analysis of the schemes in Singapore
- Analysis of premium credit cards in Singapore
- American Express
- Despite being a small issuer of credit cards in Singapore, American
Express offers four premium credit cards
- Citibank
- Citibank offers six different premium cards, four of which are
platinum
- DBS Bank
- DBS offers two platinum cards and one black card
- HSBC
- HSBC offers three premium credit cards in Singapore, a gold,
platinum and premier card
- Maybank
- Maybank is still a small player in Singapore with only one platinum
card available
- OCBC
- OCBC offers a platinum and titanium credit card as part of its
credit card portfolio
- UOB
- UOB offers six premium credit cards
- Analysis of Singapore's premium cards
- CHAPTER 7 THE 'SUPER-PREMIUM' CREDIT CARD
- Australia and New Zealand
- Hong Kong
- Singapore
- APPENDIX
- Supplementary data
- Definitions
- AAGR
- Balances outstanding
- CAGR
- Charge card
- Credit card
- Debit card
- Interchange
- Future readings
- Datamonitor's custom research capabilities
- SPP writing team
- List of Tables
- Table 1: American Express's premium cards
- Table 2: ANZ's premium cards
- Table 3: Citibank's premium card offering
- Table 4: Commonwealth Bank's premium card offering
- Table 5: HSBC's premium credit card offering
- Table 6: National's premium card offering
- Table 7: St George's premium card offering
- Table 8: Westpac's premium card offering
- Table 9: American Express's premium card offering
- Table 10: Dah Sing's premium credit card offering
- Table 11: HSBC's premium card offering
- Table 12: Standard Chartered's premium credit card offering
- Table 13: ASB's premium card offering
- Table 14: ANZ's premium card offering
- Table 15: BNZ's premium card offering
- Table 16: National Bank of New Zealand's premium card offering
- Table 17: Westpac's premium card offering
- Table 18: American Express's premium card offering
- Table 19: Citibank's premium card offering
- Table 20: DBS's premium card offering
- Table 21: HSBC's premium card offering
- Table 22: OCBC's premium card offering
- Table 23: UOB's premium card offering
- Table 24: The number of credit cards in Australia, 2001-2005
- Table 25: The total number of cards by scheme and card type at the end
of 2005 in Australia
- Table 26: The number of credit cards in Hong Kong, 2001-2005
- Table 27: The total number of cards by scheme and card type at the end
of 2005 in Hong Kong
- Table 28: The number of credit cards in New Zealand, 2002-2005
- Table 29: The total number of cards by scheme and card type at the end
of 2005 in New Zealand
- Table 30: The number of credit cards in Singapore, 2001-2005
- Table 31: The total number of cards by scheme and card type at the end
of 2005 in Singapore
- List of Figures
- Figure 1: The hierarchy of credit cards in Asia-Pacific in terms of
privileges and exclusivity. Super-premium cards are now at the top of the
hierarchy
- Figure 2: The number of cards reached 14.7 million at the end of 2005
- Figure 3: Visa has over 1.5 million premium cards in Australia
- Figure 4: Overall Visa held more than 57% of the premium cards in the
market at the end of 2005
- Figure 5: There were approximately 13.7 million credit cards in Hong
Kong at the end of 2005. The average annual growth rate was 2.4% over the
2001-2005 period
- Figure 6: Gold credit cards dominated Visa's premium credit card
portfolio in Hong Kong at the end of 2005
- Figure 7: Similar to Visa, gold MasterCard credit cards are the most
common premium MasterCard with 1.8 million cards at the end of 2005
- Figure 8: Visa dominates the premium credit card market in Hong Kong
with a total of 3.1 million premium cards at the end of 2005
- Figure 9: New Zealand has approximately 2.4 million credit card
accounts at the end of 2005, up from 2.3 million and 2.2 million in 2004
and 2003 respectively
- Figure 10: Visa leads the schemes in terms of the number of premium
credit cards issued in New Zealand
- Figure 11: The number of credit cards in Singapore has grown at
average an average rate of 12.5% over the 2001-2005 period
- Figure 12: Visa and MasterCard dominated credit cards schemes in
Singapore at the end of 2005
- Figure 13: Datamonitor's core consulting capabilities
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