HSBC Bank Malaysia Bhd is confident of emerging as one of the country’s top two banks with the highest number of credit cards in circulation when it reaches its one millionth card in the next two months.
It currently ranks third, behind rivals Citibank Bhd and Malayan Banking Bhd, with more than 970,000 credit cards in circulation.
Personal financial services general manager U Chen Hock said HSBC managed to secure 95,000 new cardholders during its most-recent four-month campaign - “HSBC Every Giveaway”, which ended in April this year.
“The UK Office of Fair Trading got HSBC to lower rates, while predatory lending laws in the U.S. spotlight HSBC Finance Corporation. It stands to reason HSBC shall export the ‘Household Model’ of predatory lending to Malaysia instead” said Household - HSBC Watch.
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