EASY, LOW-INTEREST PAYMENTS WITH YOUR NCB CREDIT CARD FOR AN ENJOYABLE SHOPPING EXPERIENCE

In response to the rising demand for installment payments, National Citizen Commercial Joint Stock Bank (NCB) has introduced a favorable program for credit card installment conversion costs, providing consumers with more convenient and economical payment alternatives.

Payment plans that use credit cards as an installment are now popular

According to recent estimates published by Juniper Research in April 2024, around 380 million consumers globally are opting to pay in installments rather than making a single payment at the time of purchase. This market research firm forecasts that by 2028, the number of individuals utilizing this payment method will exceed double the current figure.

The tendency to purchase in installments is flourishing in Vietnam. Visa's 2023 consumer payment attitude research indicates that Vietnam presently leads Southeast Asia in the prevalence of individuals utilizing buy now, pay later options. Vietnamese consumers predominantly opt for installment payments to purchase electronic products (59%), household appliances (51%), and fashion and accessories (47%).

Ms. Lan Phuong (Hanoi) stated that consistently making installment payments with her credit card alleviates financial strain, enabling her to purchase preferred things without impacting her family's monthly budget.

“I typically prioritize shopping at establishments associated with my credit card that offer a 0% interest rate program,” Ms. Phuong stated. “Last month, I received a discount of VND 1 million on the purchase of an iPhone 16 at FPT Shop by opting for installment payments with an NCB Visa card, which proved to be more advantageous than a lump-sum payment.”

Cost incentives, satisfactory shopping

In response to contemporary consumer trends and the increasing need for installment payment options, National Citizen Commercial Joint Stock Bank (NCB) has introduced a program providing preferential conversion fees for installment payments made with NCB credit cards.

From now until December 31, 2024, NCB Visa cardholders can utilize installment payments with NCB credit cards, benefiting from significantly reduced setup fees: a 30% discount throughout the installment duration or no fees for the initial period, lasting up to 12 months. NCB members get 0% interest rates with flexible terms, as well as discounts, refunds, and bonus points that can be accumulated. This lets them save a lot of money on big purchases, helps them budget their money, and encourages them to be financially proactive.

The promotion is applicable to all installment purchases of VND 1 million or greater made with an NCB Visa card, with no restrictions on the frequency of participation during the program. Consequently, if you frequently purchase items on installment or require significant expenditures for shopping, education, healthcare, etc., customers should fully leverage the advantages of NCB credit cards to optimize savings.

In addition to convenient payment options, NCB credit cards entice consumers with a variety of practical promotions, such as vouchers for access to the Song Hong Business Lounge nationwide upon spending VND 20 million on goods and services with an NCB Visa Platinum credit card within three months; discounts of up to 30% on spa services, dining, and golf at luxury resorts nationwide when using an NCB Visa card; reductions at Golden Gate restaurants, spending on ShopeeFood, and travel and delivery services with Xanh SM; a discount of VND 1,000,000 on the purchase of the iPhone 16 series at https://fptshop.com.vn and FPT Shop locations; and a 15% discount (up to VND 500,000) when shopping at Hoang Ha Mobile stores, among others. The website https://uudai.ncb-bank.vn/ regularly updates promotions, making it easy for consumers to search and choose the one that best suits their consumption needs.

By constantly improving and coming up with new card products that use modern technology and by giving cardholders more value through a variety of useful promotions, NCB is gradually making the shopping and daily spending experience better for customers, making itself a more desirable market offering. Additionally, it encourages the use of non-cash payments in line with government guidelines, which boosts domestic spending and improves economic growth as a whole.

Customers can contact the bank's transaction offices/branches nationwide or the hotline (028) 38216216 - 18006166 for support in opening an NCB credit card or for more detailed information and program terms.