Bendigo and MasterCard join forces
28/02/2003Bendigo Bank has today launched an affiliation with global Payments Company MasterCard International, a new Bendigo Red MasterCard credit card now available for customers.
The Bendigo Red MasterCard credit card will complement Bendigo Bank’s existing credit card products, which include Bendigo’s Red Visa credit card.
Bendigo Bank’s Chief Manager Cards Division Greg Devlin, said the introduction of the Mastercard credit card was part of a strategy by the bank to place renewed focus on its credit card business by providing a full range of products and services to its customers. This is an exciting progression for Bendigo Bank and we welcome our new association with MasterCard International.
From today, customers will have the option of a Bendigo Red MasterCard credit card with up to 44 interest free days at a rate of 15.9 per cent. This card will provide customers with automatic access to Bendigo Bank’s popular Rewards program. The card will have an annual fee of $35.
The second MasterCard option for customers is the Bendigo Red MasterCard credit card with a no interest free period, a rate of 12.9 per cent and no annual fee.
“The introduction of this new credit card provides our customers with further choice as to the most appropriate credit card to suit their requirements,” Mr Devlin said.
“The use of credit cards in today’s market is continuing to increase as more consumers enjoy the flexibility and convenience this product provides in managing day to day finances. Bendigo Bank wishes to ensure that our customers have a range of credit card products to choose from and are competitively priced.
“A unique feature of our new MasterCard credit card relates to Bendigo Bank’s Community Bank customers, who will have the name of their Community Bank branch printed on their credit card. This specifically links the product to that Community Bank branch and is a feature that previously has been unavailable to them but is a feature that each of the 87 branches throughout Australia have welcomed.”
“This is a fabulous marketing tool for our community companies.
“Every time their customer uses their Bendigo Red MasterCard credit card, the name of their local Community Bank branch will be on show. And of course their community will share in revenues generated by spending on the card.”
Bendigo Bank is no stranger to credit card initiatives, more than 21 years ago the then Bendigo Building Society was the first financial institution in Australia to successfully introduce Visa into Australia.
“Our relationship with Visa continues to be successful. Adding MasterCard to our list of credit card options provides Bendigo Bank customers with further choice.”
The launch of Bendigo Red MasterCard credit card is the first step in expanding the Bank’s overall range of credit cards available to Bendigo Bank customers.
Bendigo Bank is continuing to work on additional niche products, to be introduced later this year.