The credit card company will launch a new benefits package instead.
Israel Credit Cards-Cal Ltd. (ICC-Cal) is discontinuing the points loyalty scheme for its 1.33 million card holders. Sources inform ''Globes'' that the company has decided to scrap the points system, including those for members of El Al Israel Airlines Ltd.'s (TASE: ELAL) "Matmid Frequent Flyer" club. It will be launching an advertising campaign detailing the alternative package in two weeks time. The campaign will be fronted by actor Shai Avivi.
This represents a major shift in policy for ICC-Cal (which issues the Visa, Diners, and YOU cards), although its rivals Isracard Ltd., and Leumi Card Ltd. which have invested considerable effort in promoting their points award systems, are unlikely to follow suit.
Published by Globes [online], Israel business news - www.globes.co.il - on August 6, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007