THE Hong Kong Baptist University and Hong Kong Polytechnic University hope to use funds generated by new credit cards to help improve their development.
The 'Baptist U' card, launched with the Hang Seng Bank, is available as a Visa card, Visa Gold card, Mastercard and Gold Mastercard and all Baptist University graduates, staff and undergraduates are eligible to apply for them.
The university has set up the Hong Kong Baptist University Credit Card Fund to pool the money contributed by the bank to support its campus expansion, special teaching and research projects, academic exchanges and student activities.
Hang Seng Bank will donate 0.3 per cent of every dollar spent on the cards to the university. The first year's annual fees for all Baptist U card-holders have been waived and an amount equivalent to those fees will be passed to the university.
After the first year, the bank will continue to donate half the annual fees to the university fund.
Besides collaborating with Baptist University, the Hang Seng Bank has also issued 'affinity cards' with the City University of Hong Kong and the Chinese University of Hong Kong.