Hang Seng Bank has joined forces with MasterCard International to launch a credit card targeting high net worth individuals.
Launched yesterday, the First World MasterCard is available to Hang Seng Bank's private banking customers who have at least $10 million managed by the bank - typically the top 1 to 3 per cent of an issuer's card base.
The card is positioned above MasterCard's platinum card and will enable holders to enjoy an unlimited credit facility. It is the first time this kind of MasterCard has become available in the Asia-Pacific region.
William Leung Wing-cheung, Hang Seng Bank's assistant general manager and head of its credit card centre, said the card would be a status symbol for the bank's affluent customers.
Holders of the new card can request that all merchant details and related transactions be excluded from their monthly statements and revealed to them only, via a 24-hour hotline.
'Card members would be able to maintain a high degree of privacy while enjoying maximum convenience in handling their credit-card accounts,' Mr Leung said.