Fibank First Investment Bank was nominated for the OSCARDS Awards 2008 for its co-branded credit card VISA Vivatel-FIBank in the “Loyalty” category (Europe). The Oscars in the field of card business are given in the following categories: Loyalty and Rewards, Services, Shapes and Design, Pre-Paid Cards and Technologies.
OSCARDS Awards 2008 for innovative cards is organized by Publi-News with the purpose of paying tribute to creativeness and innovativeness in the card banking sector. The preliminary selection is entrusted to Publi-News and Altenor Consulting – consultation company, specialized in the filed of card strategies. The two companies evaluate card products of banks from the whole world and choose the best ones in each category. In November, when the final round will be held, an expert jury of international bank specialists will chose the winners in each category. The awards ceremony will be held on December 17, 2008 in Paris, France and the main sponsor of the event is Visa Europe through Carte Bleue (France).
The co-branded credit card Vivatel-FIBank was introduced to the Bulgarian market during the first half of December 2007 and it is intended for the adult loyal customers of Vivatel who are using the postpay subscription plans of the telecom. The holders of such cards can make payments through POS terminals and via the Internet free of charge and they can withdraw cash from ATM machines. The customer may receive up to 100 free minutes on the Vivatel network depending on the payments turnover made with the card.
The co-branded Vivatel-FIBank credit cards are issued with high credit limits (up to BGN 10 000) and they have a long grace period (up to 60 days). If the customer repays his/her entire liability within the grace period no interest is accrued which means that he/she has been granted an interest-free loan. During the first year there is no annual maintenance fee and from the second year it is lower than the standard Visa cards maintenance fee.
The customers of FIBank and Vivatel who are holders of the co-branded card receive also many additional bonuses – automatic payment of the monthly bill to Vivatel free of charge, free SMS notifications in real time for all transactions made with the card and a free international travel insurance, activated automatically after a roaming call or a payment abroad made with the card. The annual interest rate on the debit balance is lower compared to the standard market rates and the credit limit is approved with no requirement for official proof of the applicant’s income.