The "Diamond" Card
Nov 2, 2008 | 6:56 am
#1
Original Poster
Join Date: Apr 2005
Posts: 189
The "Diamond" Card
MasterCard to issue diamond-studded cards
By Jeremy Grant
Published: October 31 2008 23:33 | Last updated: October 31 2008 23:33
Markets are plunging, banks are collapsing and talk of recession is all about, but the global gloom is not stopping the launch of a MasterCard credit card inlaid with a diamond and laced with gold.
Known as the Diamond, the card has a 0.02-carat gem .embedded in its centre and a picture of a peacock for female cardholders and a winged horse for men.
The card, which has a $1,000 (620) annual fee, is to be issued in two weeks time by MasterCard and Kazkommertsbank, the second largest bank in commodities-rich Kazakhstan, where the oil and minerals boom of recent years has created a fresh crop of billionaires.
Asked about the timing of the launch, the banks head of international payment systems, Alla Voyakina, said: The [financial] crisis is also affecting us but we are talking about rich people, they can afford to have such cards. Its a question of prestige to have such cards in your .wallet.
The diamond was only a design element, Ms Voyakina said. Its showing your status.
MasterCard had done all the testing to make sure such a card would fit into automated teller machines and point of sale slots, she added.
The card comes as even the super-rich are feeling the pain of the credit crunch. Spending on items such as $1,000 mobile phones is expected to end a boom that more than doubled the size of the global luxury goods market in the past decade.
However, Ms Voyakina said the bank had a target audience of the best of VIP customers and only planned to issue 1,000 cards, at a rate of about 30 a month, starting on November 13.
Each would have a credit limit of $50,000, about $20,000 higher than the highest limit on some MasterCard platinum cards.
MasterCard, which launched a similar card in Dubai last year, said such cards were leading examples of MasterCards ability to support our customers in meeting the lifestyle needs of these premium customers.
The invitation-only Royale card issued by Dubai First, a consumer finance group owned by the emirates ruler, Sheik Mohammed bin Rashid Al Maktoum, offers a lifestyle manager and has no pre-set spending limits.
The Kazakh card comes with a personal card manager, available around the clock.
By Jeremy Grant
Published: October 31 2008 23:33 | Last updated: October 31 2008 23:33
Markets are plunging, banks are collapsing and talk of recession is all about, but the global gloom is not stopping the launch of a MasterCard credit card inlaid with a diamond and laced with gold.
Known as the Diamond, the card has a 0.02-carat gem .embedded in its centre and a picture of a peacock for female cardholders and a winged horse for men.
The card, which has a $1,000 (620) annual fee, is to be issued in two weeks time by MasterCard and Kazkommertsbank, the second largest bank in commodities-rich Kazakhstan, where the oil and minerals boom of recent years has created a fresh crop of billionaires.
Asked about the timing of the launch, the banks head of international payment systems, Alla Voyakina, said: The [financial] crisis is also affecting us but we are talking about rich people, they can afford to have such cards. Its a question of prestige to have such cards in your .wallet.
The diamond was only a design element, Ms Voyakina said. Its showing your status.
MasterCard had done all the testing to make sure such a card would fit into automated teller machines and point of sale slots, she added.
The card comes as even the super-rich are feeling the pain of the credit crunch. Spending on items such as $1,000 mobile phones is expected to end a boom that more than doubled the size of the global luxury goods market in the past decade.
However, Ms Voyakina said the bank had a target audience of the best of VIP customers and only planned to issue 1,000 cards, at a rate of about 30 a month, starting on November 13.
Each would have a credit limit of $50,000, about $20,000 higher than the highest limit on some MasterCard platinum cards.
MasterCard, which launched a similar card in Dubai last year, said such cards were leading examples of MasterCards ability to support our customers in meeting the lifestyle needs of these premium customers.
The invitation-only Royale card issued by Dubai First, a consumer finance group owned by the emirates ruler, Sheik Mohammed bin Rashid Al Maktoum, offers a lifestyle manager and has no pre-set spending limits.
The Kazakh card comes with a personal card manager, available around the clock.
Nov 6, 2008 | 4:26 am
#4
FlyerTalk Evangelist
Join Date: Jul 2003
Location: jfk area
Programs: AA platinum; 2MM AA, Delta Diamond, Hilton Diamond
Posts: 10,291
I already have a Diamond card from Citibank, the one that give you double thank you points at gas stations, supermarkets and drugstores.