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SCMP Reporter

CITY University of Hong Kong (CityU) has launched its affinity credit card range which includes a gold card for staff and a classic card for students.

  The cards, issued by Hang Seng Bank, offer benefits including discounts on parking fees, at university shops and restaurants.

    Finance director James Ng Kam-ming said the biggest incentive was that there was no annual fee for the first three years.

   Most banks charged $480 annually for gold cards but holders of the university card, similar to a Visa card, could save $1,440 over three years, he said.

  'On top of this saving, the bank will donate 0.3 per cent of every dollar back to the university,' Mr Ng said.

  'Money recouped from the bank will be used to improve and expand existing facilities.'    He said card holders were eligible for discounts at the university bookstore and the two on-campus restaurants.

  'Card holders are also eligible for membership to our sports clubs, which are well-equipped and cater for all,' Mr Ng said.

  Since the introduction of the cards in March, 10,000 applications had been received. This included 5,000 from graduates who applied for the gold card.

   Cards are issued in line with CityU's mission statement drawn up when the institute changed its academic status.

  It is a stated goal of the university to forge closer links with the business and industrial sectors.

  A strong relationship with the business community would enable the university to expand research programmes and secure jobs for graduates, Mr Ng said.

  'The cards are one way we can show the community we are responsible and will help the university form a network with professionals in commerce,' he said.

  'Although the classic card is really for students, responsible professionals not connected with the university who can prove they hold regular jobs, can apply for a gold card.'   Cards are issued after approval from the affinity card membership committee.

  Only members of professional bodies, those in top corporate jobs and those with good credit ratings would be considered, said Amy Cheung Leung-hung, the executive officer of CityU's finance department.

 Senior staff of the health centre, dental clinic, bookshop and souvenir shop could apply for the card, she said.

  Others eligible include departmental advisers, members of the board of trustees and subsidiary companies of CityU.

   There are long-term benefits of attracting people in the world of commerce to CityU.

   'Professionals will be visiting the university campus to use our facilities regularly once they get their cards,' Mr Ng said.

  'They will be able to meet and mix with students and staff which is a good way to forge business links. CityU will also receive 0.3 per cent of every dollar they spend.'   An eight-week interest-free repayment period had been designed for students, but any late payments would be charged at rates applicable to Visa cards.

  'Both cards offer flexible payment options and most students like the idea of partial payment on their current balance,' Mr Ng said.

  Purchases made with affinity cards are automatically insured for up to $30,000.

  The cards could also be used with a pre-assigned telecode to make international phone calls and enrolment was free, Mr Ng said.

  Staff who regularly travel abroad can use medical, travel and legal assistance offered through the cards.

 Other institutions in the territory offering credit cards only allow alumni, and not students, to apply.



Credit cards generate income