Citi unveils sole-branded credit cards in China

Citibank (China) Co.,Ltd has become the first international bank to issue a sole-branded credit card in China.

There are five cards offered across two categories, Premier Miles and Rewards, catering for different spending needs and feature preferences.

Premier Miles, for instance, will have redemption agreements with 50 airlines, access to over 600 airport lounge worldwide six times per year, and the flexibility of transferring miles to friends and family. Applicants must have a minimum annual salary of 200,000 yuan to qualify.

Rewards Card will offer customers a range of deals on everyday spending, with customers requiring a monthly income of 3,500 yuan.

"The launch of our sole branded cards business in China marks a significant development in our growing presence in China," said Stephen Bird, Citibank's Asia Pacific chief executive officer.

The Citi credit cards are now available across the 13 cities it operates in.

With a Renminbi-denominated and a US dollar denominated card, the new Citi China UnionPay, Visa and MasterCard credit cards can be used at merchant outlets across China and around the world.