VIB launches One Card, ushering in a new era of credit cards

Designed around the concept of "ONE is ENOUGH," One Card meets customers' current spending needs while continuously upgrading credit limits, benefits, and privileges throughout each stage of their financial journey, without interrupting the cardholder experience. Rather than requiring customers to replace their card as their needs evolve, One Card automatically expands its value over time to match the different phases of their personal financial journey.

The move will further realise VIB’s strategy to lead the market with hyper-personalised financial solutions and ecosystems that accompany customers throughout their journey.

Tuong Nguyen, deputy CEO and head of retail banking of VIB, said, "Customers evolve through different stages of life. This is particularly true as their income grows, spending needs expand, and their relationship with the bank deepens. Instead of designing a card that suits only a few needs at a given time, VIB wants to create a card that continuously evolves with the customer. This is how we realise our strategy of leading the market with hyper-personalised financial products and ecosystems.”

ONE is ENOUGH for every stage of the financial journey

A credit card should not only meet today's needs, but also have the ability to automatically expand its limit and privileges in line with the cardholder's financial capacity. This is the unique selling point of One Card.

Leveraging technology, data, and AI platforms, VIB can gain insights into customers’ behaviour, needs, and engagement over time. This stems from VIB’s long-term investment in technology and data capabilities to develop products that grow together with customers.

Rather than being fixed at the time of issuance, One Card continuously updates its features on the app, offering benefits tailored to each stage of the customer's financial journey. As a cardholder's financial capacity improves, One Card automatically upgrades from Gold to Platinum and Signature, increases the credit limit to as much as VND2 billion ($76,900), and unlocks corresponding benefits without disrupting the customer experience.

Traditionally, a credit card upgrade requires issuing a new card and updating card information across all digital wallets and online platforms. This is not necessary with the VIB One Card. Customers can use the same physical card even after it is upgraded, ensuring a seamless and unique experience.

Rather than focusing on a single spending category, One Card is designed around five comprehensive spending area–shopping, travel, education, insurance, and international spending–covering personal, family, and business needs. It offers cashback across up to three selected categories simultaneously. Thus, customers able to change their preferences every month in line with their actual needs. Cashback is up to 9 per cent with a maximum total cashback value of VND18 million ($692) per year.

Notably, cashback rewards apply from the very first transaction, with no minimum spending requirement.

ONE is ENOUGH for every experience privilege

Along with the evolving spending demands, customer expectations are also rising. A credit card has extended beyond a payment tool to become a companion for everyday lifestyle experiences.

With One Card, privileges are integrated and expanded throughout the customer's journey. Highlights include zero foreign transaction fees for the first three months and just 1 per cent thereafter throughout the card's lifetime, which is significantly lower than the prevailing market rate. Customers can optimise costs for international transactions, ranging from travel and business trips to payments for AI platforms, digital services, and global applications.

For Signature privileges, cardholders can receive 4 free airport lounge visits per cent year without any spending requirement, plus an ecosystem of offers from VIB and Visa.

The value of One Card continues to increase as customers make greater use of VIB's ecosystem. From conditional annual fee waivers and payment privileges to the flexibility of converting credit limits into cash advances via Super Cash, One Card offers a seamless financial ecosystem beyond merely a payment tool.

After years of pursuing its strategy of “Leading card trends," VIB has built an ecosystem serving more than 3 million cardholders while continuously expanding benefits, experiences, and technologies. One Card represents the next step in that journey, introducing not only a new product but also a new approach to credit cards.

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