August 1, 2006, joined with domestic credit card gateway websites www.51credit.com, Industrial Bank launched "Online Application Service for Garfield Credit Card" to initiate an innovative platform for credit card application and approval. The move had made great influence among domestic banking industry. Some domestic financial media commended the act as the "New Marketing Landmark for Credit Card in China".
According to the survey by CNNIC, the number of netizen in China had reached 120 million by the end of 2005, among which, 40 million were the sound potential users of credit card and 53% attempted to or were willing to consume online. It was this huge potential market as well as the confidence on this cyber group that attracted Industrial Bank to cooperate with www.51credit.com for the exploitation of cardholders' market on the Internet and the development and integration of value-added service for credit card.
Compared with traditional credit card promotional pattern, Internet marketing with Internet technology and means held more advantages. By its strength to protect the privacy and confidentiality of applicants, it can improve the satisfactory level of clients; by its low promotional cost, it can reduce marketing expenses; by its boundless restriction on time and space, it can boost the market radiating and penetration ability of the card-issuing bank. Internet marketing can also reduce the occurrence of false card promotion and enhance the preventive and controlling ability on card-issuing bank's market risk. It's foreseeable that with the further popularization of Internet and the prosperity of the e-commerce, Internet marketing will be a crucial channel for card-issuing bank to get assess to its target clients effectively. Therefore, many insiders considered the innovative cooperation between the Industrial Bank and www.51credit.com a move with great referential value.
It was said that the "Online Application Platform for Garfield Credit Card" occupies outstanding features on its convenience, security and preferential activities. It only takes applicants few minutes to fill out the application form online and then the free and professional service will be offered by the processing center. This helps to save plenty of time and trouble. The closed application flow, powerful technology strength, and professional group also supplied reliable guarantee for clients' personal information. Clients who apply Garfield Credit card through the platform not only can enjoy all preferential market promotions offered by Industrial Bank, but also can receive gift packages provided by www.51credit.com. The Credit Card Center of the Industrial Bank expressed that the purpose of this cooperation on the one hand was to create more convenient application access for cardholders with the Internet platform supplied by www.51credit.com, and on the other hand was to boost the market influence and brand image of Industrial Bank card by extending the marketing promotion to the Internet to supply more benefit for clients.
With the support by Hang Seng Bank, Industrial Bank has launched Garfield Master Card, Business Credit Card, RMB Credit Card one after the other since the debut of Standard Duel-currency Credit Card in July 2004. At present, the credit card center of Industrial Bank has formed a product service system that provides 8 service functions (interest-free repayment period and minimum repayment amount; cash advance; interest-free installment; favorable merchants in Hong Kong and Mainland; consumption password; interactive SMS message and zero-risk loss report ) and 4 marketing activities that highlight "Super weekend, Gift Sending, Colorful Holidays, and Score-reward Plan". Garfield Credit Cad, the first cartoon and specially shaped credit card as well as the only "Lover Credit Card" launched in September 2005 in China , has been very popular among cardholders for its vivid shape, brisk color, and sheer individualization.