IOC, Citibank launch global card

JUNE 8: Citibank and Indian Oil, which had launched the first co-branded petrol credit card in India in September 1997, has now launched a...

JUNE 8: Citibank and Indian Oil, which had launched the first co-branded petrol credit card in India in September 1997, has now launched a co-branded global credit card in partnership with MasterCard International.

Citibank chief executive officer and global consumer bank head, Nanoo Pamnani said: "The Indian Oil and Citibank co-branded credit card which the first of its kind in India has been one of the most succeessful products in the card industry with a base of 50,000 credit cards already.

With this card becoming international, the card member will now get the additional benefit of earning reward points on his international spend which can be redeemed for free fuel in India." According to Indian Oil director (marketing) ON Marwaha,"The Indian Oil Citibank International card will enable the member to buy petrol at Indian Oil outlets without being charged the regular transaction fee of 2.5 per cent."

The USP of the card is that every time the member uses the card they will earn "turbo points". Every purchase at an Indian Oil petrol station will earn the cardholder double the points which can be redeemed for free fuel at select outlets of the company. The card member can also avail a 50 per cent discount on emission checks in Indian Oil outlets, 20 per cent discount on preventive health checks at Apollo Hospitals and also discounts on tyres and batteries, Marwaha added.