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RBC’s new credit card focuses on business clients

RBC Royal Bank scored another first yesterday when it rolled out the RBC Rewards VISA Platinum credit card — the only VISA Platinum offer to business clients in the region.

Praising the VISA Platinum card now offered to personal and business clients as ‘rich in rewards’, RBC President and Country Head Nathaniel Beneby said the card is differentiated from other cards through unlimited points, few restrictions and no blackout periods for reward redemption.  Beneby said the regional first demonstrates the bank’s responsiveness to client needs.

“We are really the first in the Caribbean and Latin America to have a business Platinum card,” Beneby told Guardian Business yesterday.  “What is important in our value proposition here is that clients will see that we are interested first and foremost in understanding their needs and then meeting their needs.

“Clearly there is a demand for this and I think not only the clients but also the Bahamian public will see RBC as being very responsive.”

RBC’s Bahamian operations account for two-thirds of the bank’s 30,000 cardholders in the Caribbean, according to Beneby, making the credit card business an important aspect of local operations.

According to the bank, RBC’s Rewards Platinum card has the most flexible travel rewards program in The Bahamas, with zero blackout periods and the flexibility to choose any airline, hotel or car rental agency.  Points accumulated with the card can also be redeemed for cash-back credit to the card, or for gift cards at popular merchants.  Promotional literature listed merchants like Amazon, Staples, and Dell as gift card participants.

The VISA Platinum product includes a worldwide concierge service, which will allow cardholders to make a single call to the ‘concierge’ who can make restaurant reservations, entertainment and travel bookings, and other arrangements for the cardholder.  Other features include emergency medical protection, travel accident insurance, auto rental insurance and exclusive offers.

RBC hosted hundreds of clients, staff and other guests in a gala reception at the Sheraton Nassau Beach Hotel Tuesday evening to introduce the card.  RBC is the 13 largest bank in the world by market capitalization and has been in The Bahamas since 1908.

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