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06/12/2010 - Singapore first to get multi-millionaire credit card  06/12/2010 - Singapore first to get multi-millionaire credit card

Citibank Singapore has launched a brand new credit card aimed only at Singapore’s rich.

The new Ultima card is by invitation only and members must have at least $5 million SGD in assets.

The card will replace the old Ultima card which, when introduced in 2003, was offered to clients with a minimum annual salary of $350,000 SGD.

Due to Singapore’s large number of wealthy people (nearly one in ten are millionaires) it is the first country in Asia to offer the new card.

According to this year’s wealth report by Merrill Lynch and Capgemini World, the number of Singapore millionaire households grew by a massive thirty-five percent last year alone.

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