Bank of the Philippine Islands Ltd. is looking to increase its credit card billings this year by revamping its air miles credit card and rewards program, a spokesperson for the bank tells PaymentsSource.
Until recently, the Manila-based bank partnered with Northwest Airlines for the WorldPerks MasterCard credit card under the airlines’ WorldPerks frequent flyer program. But when Delta Airlines took over Northwest in 2008, it merged its SkyMiles program with WorldPerks under the SkyMiles name.
“As a consequence, we are relaunching the pure mileage card BPI WorldPerks MasterCard as BPI SkyMiles,” the spokesperson says. “In addition, we are launching a new card variant, the BPI SkyMiles Platinum MasterCard.”
The bank expects card billings for its portfolio to increase by up to 20% this year from 16 billion pesos (US$344 million or 282,000 euros) in March 2009, the spokesperson says.
The new card will come with improved features and added benefits, including the ability to earn and redeem miles for travel to more than 900 destinations in 160 countries through Delta and other SkyMiles airline partners, he says. Cardholders pay 2,050 pesos per year for the platinum version, while the other card is free.
“Cardholders will automatically earn one mile from SkyMiles for every 45 pesos spent on the BPI SkyMiles card,” the spokesperson says.” Platinum cardholders earn double miles for the same spending.”
Holders of the platinum version also may access the Delta Sky Club at the country’s international airport for free and receive travel insurance of up to 20 million pesos.
The bank currently issues 55,000 tied to the air-miles program and has 920,000 credit cardholders in all.