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China’s First Credit Card with Mutually Convertible Multi-scenario Rewards Launched

On June 23, ICBC and China Resources Group (“CR”) jointly launched the ICBC-CR Credit Card, which is China’s first credit card with mutually convertible multi-scenario rewards. The card combines functions of CR membership card that can be universally used under online and offline scenarios, with financial functions and interests of credit card. It is more focused on family consumption. Customers can apply online for a card via the ICBC website, mobile banking, official WeChat account of the ICBC credit card, the CR Link App, and official WeChat account of the CR Link.

An official with ICBC said that customers with the ICBC-CR Class Card and Gold Card will automatically become CR Link’s classic members, while customers with Platinum Card will automatically become CR Link’s premium members. Members can enjoy a series of discounts and high-end courtesies provided by CR Vanguard, Ole’, Blt, the Pacific Coffee, the MixC, and CR Care. For example, each effective consumption of two yuan offline can turn to one CR Link bonus point, along with maximum five percent off at Ole’ boutique supermarket, free parking at the MixC, and special offers like 10 percent off and half price for the second cup every Tuesday at the Pacific Coffee. Card holders can also multiply rewards through consumption.

New customers successfully applying for ICBC credit card may get additional 66 yuan back. Card holders downloading the CR Link App for the first time can obtain a gift package including two-for-one coupon of the Pacific Coffee, five-yuan coupon of CR Vanguard, 10-yuan coupon of CR Link platform, and acquire 1000 CR Link bonus points.