Investec and Visa launch specialist card
Investec Bank (Australia) has this week announced it has partnered with Visa to deliver an offering specifically aimed at Australian doctors and dentists.
The company said the Investec Visa Signature credit card was only the second card to be launched on Visa's Signature platform in Australia and would carry a new tier of services and benefits sitting above those offered to Visa Platinum customers.
Commenting on the new offering, Investec's Card Services head Brent Zurowski said the distinctive features of the new Investec-badged credit cards were not available elsewhere.
"While recognising that the credit card market is already flooded, we intentionally worked on designing an impressive product for the medical and dental sectors," he said.
Every dollar spent on eligible purchases on the Investec Visa Signature card, and every $2 spent on eligible purchases on the Investec Visa Platinum card, would earn one Qantas Frequent Flyer point.
"As well as being provided with the high level of service they've come to expect from Investec, our research showed professionals place value in gaining extra frequent flyer points," Zurowski said.
"They'll also be able to buy assets which normally can't be bought with a credit card," he said.
"For example, if a doctor or dentist wants to buy a car, such big value purchases usually aren't accepted on a credit card by car dealers who may be concerned about whether there is sufficient available credit, and also to avoid incurring high fees.
"However, Investec is now able to simplify this transaction, allowing our clients to pay using their Visa Platinum and Visa Signature credit cards," Zurowski said.
"This can then simply be converted to a different type of finance with Investec, including lease, asset purchase and chattel mortgage, or whatever best suits their financial situation."
Recommended for you
While the last several months have seen increased market volatility, particularly in the US, advisers said there are multiple reasons why there has been an increase in defensive asset flows.
Scarcity Partners believes the dynamics playing out in the managed account and outsourced chief investment officer market are “here to stay” based on positive developments in financial advice.
Former executive chairman of failed stockbroker BBY, Glenn Rosewall, has been charged with aiding, abetting, counselling or procuring BBY’s dishonest conduct in relation to a financial service.
Fidelity International research has revealed Australian investors are significantly more optimistic about the market outlook and feeling more comfortable than their APAC peers, despite ongoing market volatility.
