[By NBC-1TV H. J Yook]Citibank Korea (CEO Ha Yung-Ku) launches a cashback credit card named Citi Cashback Card fully accommodating demands of Self-employed on April 5, 2012.

As baseline features, Citibank provides Cashback Card holders with support with filing for VAT refund and issuing electronic tax invoice free of charge, both of which are core business processes to running proprietary business. Citi Cashback Card allows unlimited accumulation of Citi Cashback points for up to 1% of card spending depending on the amount of spending in the previous month and additional accumulation of cash back points as annual bonus for up to KRW 500,000 according to the amount of annual card spending. Once accumulated, Citi Cashback points will not expire and points accumulated can be redeemed as a cash reward.

Customers can choose how to redeem accumulated Citi cashback points among recurring redemption, one-time redemption and conversion to Citi points. If a customer elects a recurring redemption plan, Citi Cashback points will be automatically credited to the card payment account every time the accumulation reaches 50,000 points, which features a highly convenient service for self proprietors who are usually too busy to take care of point redemption.

On top of which, the newly introduced card offers free EPP for 2-3months at all merchants, free access to Hub Lounge at Incheon International Airport, premium service for overseas spenders by leveraging its global network and Premium Dining program, all of which are expected to contribute to much greater customer satisfaction.

Iqbal Singh, Head of Card Business Group, Citibank Korea, was quoted as saying, “Citi Cashback Card is the outcome of long-term analysis of different demands of sole traders and detailed accommodation of them. We have high expectations on the Citi Cashback Card because not only sole proprietors who have ongoing business relationship with Citibank but its prospective customers will find the card extremely useful.”