In 2012, CMB and American Express partnered up to aggressively promote high-end credit card services. In September, the two banks jointly released the CMB & American Express Centurion Platinum Card. On October 23, 2012, just one month later, they released the globe’s most prestigious credit card, the CMB & American Express Centurion Black Card, which is only available for super-affluent individuals, and marks a new wave of domestic high-end credit card services. Banking experts believe that this move has helped CMB complete its global credit card service landscape, and fortified its cooperation with American Express in terms of providing high-end services.
The Centurion Card was the world's first Centurion black card issued by American Express in 1999. Holders of the most prestigious card can enjoy incomparable VIP services, including access to VIP seats at world-class events and the world’s leading clubs.
As the flagship of CMB's high-end credit card lineup, the CMB & American Express Centurion Black Card offers a series of privileged benefits including global travel services, entertainment, access to limited luxuries, and personal shopping programs. It also includes a full range of support services to fully meet customers' needs. CMB responds to and satisfies every request from black card holders regardless of location. For example, one time the daughter of a black card holder could not go to a Red Hot Chilli Peppers concert. After finding this out, the holder’s exclusive black card life consultant contacted the band’s agent and convinced the band to meet the fan before the concert.
CMB also implements multiple measures to ensure credit card security. Thanks to its broad service scope, leading innovations, and resource integration system, the CMB & American Express Centurion Black Card is the world's most prestigious credit card.
CMB and American Expressive have cooperated since 2010 based on CMB's long-term lead in the domestic high-end credit card field. Recent statistics reveal that CMB's strategy to jointly use American Express's global resources to expand into the world’s top tier credit card sector has proven successful.
Given the current economic environment, consumption trends, and characteristics of high-end Chinese consumers, CMB's lead in the domestic high-end credit card sector will enable the bank to construct and optimize its global high-end service business landscape.
Despite that China has fell to No.115 from No.95 on the 2012 Forbes Billionaires List due to a slump in the domestic stock market, the population of Chinese multimillionaires totals 1.02 million according to the 2012 Hurun Wealth Report 2012 released in August. Underpinned by the continued rise in domestic millionaires, the domestic high-end service market is destined to flourish. Domestic service providers have continued exploring and perfecting their high-end services for the affluent, including in areas such as clothing, food, travel and education.
As a domestic credit card leader, CMB provides the nation’s first domestic platinum and unlimited credit cards, and is the only bank to provide VIP secretary services, free health exams, and golf-related services for its high-end customers. Over the past decade, CMB has continued following the consumption trends of high-end credit card users and tailored its high-end credit card services to meet their requirements.
After releasing its platinum and unlimited credit cards, CMB and American Express jointly released the first American Express Gold Card and Green Card in China as the starting point of a global high-end service strategy. Two years later, the two banks released the CMB & American Express Centurion Platinum Card and Black Card based on evidence that the global high-end service landscape has matured. The release of the Black Card is not only a milestone for cooperation with CMB, but also embodies American Express's dominant lead in the high-end credit card market.
The CMB & American Black Card adopts the concepts of the Centurion Black Card family in terms of serving the varied needs of card holders. It underlines the prominent status of card holders, and CMB's determination and market position as a high-end credit card service provider. This year marks the 10th anniversary of the inception of CMB's credit card business. Over the past eight years, CMB has been awarded the title of the "Most Popular Credit Card Issuer for Multimillionaires" every year, and ranks No.1 in terms of overseas consumption by card holders. This confirms CMB's dominant position in the industry.