RHB-TESCO, For Easy Using & Shopping

Rashid Hussein Bank (RHB) is a major financial service provider in Malaysia. It plans to go for 250,000 fresh credit card holders of this year with more rewards & benefits included in the offer that has made collaboration with TESCO, an international retail chain in grocery & general merchandising. They will be jointly issuing RHB-TESCO credit & debit cards. Those customers who are purchasing TESCO-RHB credit/debit cards will be getting 2% cash rebate & reward points according to the sources from this financial service provider, whereas debit cards are provided to those people whose income level fell below average income required that is USD 5000 (MYR 18,000). Every last week of the month, if they shop at TESCO outlet then they will be accruing higher cash rebate of 5% as well as are eligible for double club card points.

These club cards that can be redeemed for their spending at TESCO can be converted to cash vouchers later on. One of the officials from TESCO, David Hobbs (chief operating officer) said that people will be able to manage their expense & budget it more wisely than before with the advent of this card. To get more benefits & savings every day they shop, the RHB-TESCO credit & debit cards will be offering the clients the easiest & fastest way, not only with TESCO, but every other place wherever they want to shop. He further added that customers could go for TESCO-RHB debit cards whose earnings are below the average annual income of 18000 RM that is bare minimum requirement for credit card to apply.

When major financial institution Malaysian bank's announcement of increasing its credit card business by issuing 250,000 new cards & modifying its rewards policy for long run, advent of RHB-TESCO credit card comes. With an interview of Malaysian online publication company 'The Star' officials of the bank confirmed their marketing strategies to enlarge the cardholder base, which is currently counted as 90,000 members. RHB retails head Renzo Viegas confirmed that they are hoping that with the advent of new credit cards in the market in the coming year will increase their customer base from the existing 90,000 members.

 Further he added a note that some other partners will also be allied with this business to boost the credit card base in the industry. It is proposed & with targeted areas & selected partners due for next couple of months, he replies after the successful launch of the TESCO-RHB credit & debit cards that is in collaboration with TESCO. He further added that economic meltdown which caused massive setback people may not be enthusiastic to go for a new card but surely there will be swapping for value card category & we are confident about our brand value due to recent recession period &. In debit card market, there is huge opportunity which is untapped & as its currently savings & current account holders which are whopping 1.7 million in numbers could help in achieving that target. Amount of investment done with these four stores is approximately RM 300 million that is confirmed by TESCO Malaysia's financial director Mr. Soonil Hwang confirmed that.      

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