China Minsheng Bank and American Express announced last week the launch of the CMBC American Express Multi Currency Platinum credit card, the first single network card product to be offered on the AmEx network in China.
The new product, which is designed for CMBC customers traveling abroad, is the second launched by CMBC following the introduction of the CMBC Platinum Shangri-La American Express card in 2012.
“China Minsheng Bank is well known for its expertise in the premium card space in China, and we have enjoyed a very good relationship since the launch of the CMBC Platinum Shangri-La American Express Card two years ago,” Dave Keung, the vice president and general manager of partner card services in China at Visa, said. “We are delighted to partner with CMBC again to introduce the new CMBC American Express Multi Currency Platinum Credit Card and further grow the American Express brand in a key country like China.”
CMBC is the first national joint-stock commercial bank held in majority by non-public-owned enterprises. The card is available in two tiers—elite platinum and platinum—offers a waiver on fees for foreign currency transaction and cash withdrawals.
Cardholders will also have travel-related perks, such as lounge access and airport pick-up service at certain cities in the U.S. and U.K. The card also offers travel and medical insurance, as well as emergency support abroad.
“American Express is a well-established global credit card and travel services specialist,” Yang Ke, the president of CMBC’s credit card center, said. “With its comprehensive network of merchants and global travel service expertise, we believe this collaboration will bring a high-quality overseas card experience for students and business travelers alike traveling outside China.”