The card, which is supported by dedicated lifestyle relationship managers, includes travel, lifestyle experiences and wellness features in addition to best-in-class rewards and exclusive benefits.   

Citi Global Wealth has introduced an invitation-only ULTIMA Mastercard credit card which targets Citi Private Bank clients across Asia, including Hong Kong and Singapore. 

The by invitation-only card comes to market as spending by the bank’s ultra-high net worth clients continues to outpace pre-pandemic levels, the firm said in a statement. Spending in the first half of this year, compared with the same period in 2019, was up 56 per cent in Singapore, and 36 per cent in Hong Kong. Across both markets, shopping, dining and travel were leading spend categories, the firm added. 

According to research commissioned by Citi across Hong Kong and Singapore, ultra-high net worth clients wanted to access more experiences for themselves and their loved ones, particularly in travel, as well as invest quality time in wellness. In response to the penchant for spending, and evolving preferences of this client segment, the card includes travel, lifestyle experiences and wellness features in addition to best-in-class rewards and exclusive benefits. The card is supported by dedicated lifestyle relationship managers.  

ULTIMA Mastercard was introduced this week to select clients at a Citi ULTIMA Gala Dinner held at the Rosewood Hotel in Hong Kong, attended by Oscar Award-winning actress, Michelle Yeoh. “The latest iteration of the card ensures that we continue to stay ahead of our clients’ needs and wants as their spending behaviours evolve,” Angel Ng (pictured), Asia head of Citi Global Wealth, said.

The ULTIMA card which targets high net worth individuals was first launched in Singapore in 2010. See more here.

“As part of Citi Global Wealth, we are leveraging the full wealth continuum to now include this credit card as part of the product suite for private banking clients in Asia. The partnership between our credit cards and private banking businesses is helping us to unlock new opportunities to expand and deepen our client relationships in the ultra-high net worth segment,” she continued.  

"The Asia Pacific region has experienced a strong and sustained economic recovery post-pandemic. It is now home to 30 per cent of the world's ultra-high net worth population and in recent years has seen the affluent segment in Singapore and Hong Kong expand," Jason Lane, executive vice president, global account management at Mastercard, said.