[SINGAPORE] Standard Chartered and budget carrier Tigerair have tied up to launch a no-frills airline credit card.
"We have carried out research which clearly indicates that travel-related spends and spends on no-frills airlines have increased," said Som Subroto, regional consumer banking head of Standard Chartered (Singapore and South-east Asia). "This credit card would suit value-conscious travellers in Singapore perfectly."
According to the bank, travel-related spending on credit cards has grown by at least 35 per cent year-on-year while spending on budget carriers has jumped 20 per cent.
Dubbed the Standard Chartered Tigerair Platinum credit card, it gives cardholders perks when they fly Tigerair such as priority boarding, seat selection, luggage allowance upgrades as well as a free Stripes membership worth $29.95 for access to fare promotions ahead of the public.
Other benefits include more than 1,000 Standard Chartered dining deals and retail discounts.
In addition, those who opt for the "Upfront Rewards" plan when they sign up for the credit card receive a free, all-inclusive one-way Tigerair ticket.
The ticket can be used for 11 destinations, including Bangkok, Ho Chi Minh City, Jakarta and Kuala Lumpur. But cardmembers will need to chalk up $5,000 in spend over a 12-month period, failing which there will be a $100 penalty fee. New card applicants will receive an additional bonus one-way Tigerair ticket when their application is approved.
However, the card also offers cardholders the option of a typical rewards programme for those who opt for the "Future Rewards" plan instead, where points can be collected to redeem tickets on Tigerair and other gifts. Every $1 spent is worth one reward point.
Said Koay Peng Yen, chief executive of Tiger Airways Holdings: "Tigerair is all about empowering our customers to accumulate great travel experiences and memories, and this new credit card is aimed at delivering part of that promise."
The annual fee for the card is $180, although Standard Chartered and Tigerair are currently offering a two-year waiver for the principal card.