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Old 12-10-2011, 09:52 PM   #2
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Join Date: Nov 2003
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Business Times

HSBC is going all out to woo the rich who travel frequently, by offering perks from limousine rides to faster immigration clearance with its new HSBC Visa Infinite credit card.

The credit card debuted in Singapore yesterday, and only invited clients with an annual income of at least $250,000 qualify for it. There is a programme fee of $488 for the main card while the supplementary card is free.

A study which HSBC commissioned recently showed that 40 per cent of affluent consumers in Singapore make at least 10 trips a year for business and leisure.

And the pool of wealthy clients itself is growing. According to the latest World Wealth Report by Merrill Lynch Global Wealth Management and Capgemini, the number of people in Singapore with investible assets of at least US$1 million increased by 21.3 per cent last year.

There is growing sophistication among affluent customers and they expect travel privileges which are relevant and also 'go beyond the ordinary', said HSBC head of cards and consumer assets Harmander Mahal. 'There is currently a void in the market that does not fully address the needs of these customers.'

Benefits for cardholders include complimentary one-way limousine rides to airports and unlimited access to JetQuay, a luxury terminal at Changi Airport providing personalised services. Cardholders can also get expedited immigration clearance across 40 airports if they call HSBC's travel and lifestyle butler in advance.

In times of emergency, International SOS Singapore will help cardholders arrange services such as emergency medical evacuations. The credit card also provides worldwide travel accident insurance coverage of up to US$2 million.
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