China Trust Bank is actively expanding its department store consumer channels. On October 8, it joined hands with Far Eastern SOGO Department Store to launch the “China Trust Far Eastern SOGO Co-branded Card.” Cardholders can enjoy a discount of at least 10% on purchases made at the Far Eastern SOGO Department Store, with a maximum cashback of 3% and no limit. Additionally, cardholders can enjoy up to 4 hours of free parking daily, and receive a 2% cashback on overseas physical store purchases.
The China Trust SOGO Co-branded Card has been launched with three types of cards: the Imperial Card, the Unlimited Card, and the invitation-based Dingzun Unlimited Card. These cards are available to China Trust wealth management clients and Far Eastern SOGO Department Store VVIPs.
China Trust Bank, which is firmly seated as the “Card King,” saw a transaction amount of 60.7 billion yuan in August, closely followed by Cathay United Bank at 60 billion yuan. How will China Trust Bank maintain its lead in the fiercely competitive credit card market through the SOGO co-branded card?
The first strategy is to leverage the large membership base of department stores to increase the issuance of cards. By collaborating with department stores to issue co-branded cards, banks can tap into the strong consumer channels of these stores. The SOGO Department Store App already has over 1.5 million members. Online applicants can apply for the China Trust Far East SOGO Co-branded Card and instantly become members of China Trust, Far East SOGO, and HAPPY GO, allowing the bank and the consumer channels to jointly operate the same group of consumers.
Additionally, the China Trust SOGO Co-branded Card offers a 3% cashback through the “China Trust Points,” which accumulate in sync with HAPPY GO points and have no limit. This means that 1 China Trust point accumulated by swiping the card at SOGO Department Store can be converted into 1 SOGO dollar, which can be used for discounts at SOGO.
The China Trust SOGO Co-branded Card’s benefits are summarized as follows:
Card application activity
First purchase gift:
New cardholders can choose between a SOGO electronic product voucher worth 500 yuan or a suitcase.
For existing cardholders, a SOGO electronic product voucher worth 100 yuan will be given for purchases made within the Far Eastern SOGO Department Store.
Bonus gift: New cardholders will receive a monthly limit of 4,500 new Taiwan dollar SOGO instant vouchers for the first time they register for the China Trust Mobile Banking App.
Listing activities
10% cashback for EasyCard top-up (with a monthly limit of 50 points)
3% discount and 0.5% China Trust point cashback for purchasing SOGO electronic product vouchers through designated channels
3% HAPPY GO points for a single purchase over 2,000 NT dollars with HAPPY GO PAY at Far Eastern Garden City (daily limit of 200 points per card)
3% HAPPY GO points for a single purchase over 2,000 NT dollars with HAPPY GO PAY at Carrefour on Saturdays and Sundays (daily limit of 200 points per card)
New cardholders can enjoy a maximum of 400 NT dollars for riding with YOXI new cards.
In-store benefits
Discounts of 5-95% off for selected brands, supermarkets, 4 hours of free parking per day, free delivery for purchases over 1,000 NT dollars.
Other benefits
Exclusive offers for HAPPY GO members, airport pick-up and drop-off services, home cleaning services, up to 4 hours on weekdays, up to 2 free shipments of overseas luggage per year.