Anz, Telstra Join Credit Card Race
Sydney Morning Herald
Wednesday June 14, 1995
Another major player entered the increasingly combative co-branded credit card market yesterday when ANZ Bank and Telstra launched the Telstra Visa card - a credit, debit and telephone card rolled into one that will reward users with purchase points.
In a provocative response to the GM Card - the co-branded product of Westpac Banking Corp and General Motors-Holden's Automotive launched less than a month ago - the two companies said they hoped to have two million users in the next three years.
That's more than five times the target of Holden and Westpac.
Telstra's group managing director (commercial and consumer), Mr Harvey Parker, said the card's appeal would be the flexibility and achievability of the rewards program and the multi-functionality of the card. "There are customers who don't want new cars or flights. We have provided customers with a new way to get rewards."
Users will be rewarded with one point for every dollar spent on the card at any Visa merchant and earn bonus points shopping with participating companies like David Jones, BBC Hardware, Flag Inns and Sizzler restaurants. As well as having a telecard facility, users can earn points paying telephone, electricity and other utility bills.
The bonus points can be used to buy telecommunications equipment, shopping vouchers with retailers, Nissan cars or converted to cash and put in some ANZ accounts.
© 1995 Sydney Morning Herald
