Finance News

Deutsche Bank and Lufthansa launch credit card in India

German banking giant Deutsche Bank and Lufthansa German Airlines, in association with Visa International, have launched the Miles & More credit card in India, available as a Visa Platinum or Visa Signature card.

The Miles & More credit card gives cardholders automatic Miles & More membership, with access to the Miles & More program and the frequent flyer program of Lufthansa. The Miles & More program allows members to earn award miles whenever they fly with Lufthansa and other partner airlines, stay at a variety of partner hotels, rent a car, or use products and services of other Miles & More partners.

For every INR100 spent on the Miles & More Platinum card, the cardholder will earn two award miles, while every INR100 spent on the Miles & More Signature card, three award miles will be earned. In addition, Miles & More Platinum cardholders will receive a welcome bonus of 5,000 award miles when the first purchase is made with the card, while Miles & More Signature cardholders will be credited a welcome bonus of 10,000 award miles.

The award miles have no expiry date, allowing the cardholder to redeem award miles at their convenience. The only prerequisite is that the card holder should have held the Miles & More credit card for three months and must make a miles-related purchase on the card at least once a month.

At present, the Miles & More credit card by Deutsche Bank is available in Mumbai, Delhi, Bangalore, Chennai and Kolkata, with plans to roll out to other metropolitan areas at a later date.

Source: Banking Business Review
Date: 10.08.2007 [ID: 72]

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