Credit Cards Offer Discount at Preferred Stores

I hold credit card from the year of 1999. At that time, Credit Cards are not as popular as today. Most of the cards at that time are debut cards. But I never experienced discount offering as often as today.

When I went to the Coffee Bean and Tea Leaf at the Raffles City, I was offered again for 10% off for my China Merchant Bank (CMB) Credit Card. All sales above 50 RMB and paid via CMB card are eligible for the offer.

More banks follow to this kind of discount as their selected stores and merchants. This is good for consumers like me, and meanwhile, it is a clear sign that the competition on the financial service is heated up.

Now, the saving rate for individuals are as low as a little bit more than 2% (for one year), while the mortgage rate is as high as more than 5%. The margin for banks is high enough. The credit card transaction fee is also a very good business.

The discount may be the starting point of the new round of financial market adjustment.

Disclaimer: I don’t have financial knowledge. Just two cents on what I experienced today.

7 thoughts on “Credit Cards Offer Discount at Preferred Stores

  1. Mingyu Guan

    that is quite good article about china credit card, a sneak view:

    By mid-2003, 3 million credit cards had been issued to Chinese consumers; that number quadrupled to 12 million two years later. Ninety percent of China’s credit card holders belong to either the mass-affluent (consumers with an annual household income of between $4,000 and $6,500) or affluent (those with a household income exceeding $6,500) consumer segments. Conveniently, 35 percent of mass-affluent and affluent consumers reside in China’s four big coastal cities-Shanghai, Beijing, Guangzhou, and Shenzhen.

  2. Life

    Great news! Just not very fan for this offer. Discounts it’s like narcotic.

    Yesterday was very wet. We set in Sturbacks at evening on Pudong’s bank.

  3. stephen

    The credit card holder may looks glamorous when he flushes his plastic, but not knowing this is the marketing strategy to made him to ‘pre-spend’ his money and dig deeper into the unsecure loan from the bank often charged with hefty interest.

    One little advise is always use your credit card wishly.

  4. Jian Shuo Wang

    Discount is not uncommon, but discount offered by a credit card company in China is rare – since banks never ever offered any discount, although they have huge profit margin before.

  5. gong










  6. mcgjcn

    yeah, there are quite a few banks offering discount to their credit card holders in designated stores… but in some stores, they might pretend not knowing such agreement unless you ask for it ;-)

  7. stanley

    HELLO, how are you doing today?am tom from nigeria my pleasure to know you over there if you dont mind to be with me

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