As the year-end shopping season heats up, both domestic and foreign banks are launching extensive credit card promotions, expanding strategic partnerships, and introducing new products aimed at stimulating consumer spending and tourism.
According to HSBC, Vietnam’s credit card market still holds significant growth potential thanks to a young population, rising incomes, and the rapid expansion of e-commerce and the digital economy. With the Government’s ongoing push toward cashless payments, the number of card transactions nationwide is projected to reach 1.7 billion by 2027.
A joint study by UOB Bank and Boston Consulting Group (BCG) revealed that Vietnamese consumers show a strong preference for experience-based spending such as travel, fine dining, and concerts at 42 percent, notably higher than the regional average of 35 percent. Notably, 71 percent of Vietnamese consumers prefer using credit or debit cards when spending abroad.
Commercial banks view the Government’s 16 percent credit growth target for this year as an opportunity to expand consumer lending, particularly in the second half of 2025, when spending typically surges. Supported by favorable interest rates and lower operational costs, access to consumer credit is improving significantly.
In response to emerging spending trends, many banks are introducing premium credit card lines offering cashback rewards, loyalty points, and exclusive travel privileges tailored to affluent customers.
For example, UOB Viet Nam Bank has just introduced a new credit card portfolio, featuring over 1,000 exclusive offers across ASEAN. Cardholders receive a 100 percent foreign transaction fee refund, up to 20 percent cashback at duty-free stores in Japan, South Korea, Thailand, Singapore, and Malaysia, and up to 30 percent discounts at premium restaurants in Vietnam. They also receive complimentary fine dining meals at Michelin-selected restaurants in HCMC and Ha Noi.
Notably, UOB Vietnam also signed a Memorandum of Understanding with Oxalis Company and the Management Board of Phong Nha - Ke Bang National Park to promote ecotourism in Vietnam to five ASEAN markets including Indonesia, Malaysia, Singapore, Thailand, and Vietnam.
Accordingly, UOB customers in these markets receive a 10 percent discount when booking discovery tours with Oxalis. Furthermore, the top 10 customers with the highest accumulated points will be invited to participate in the expedition to Son Doong - the world's largest cave, which only welcomes around 1,000 visitors per year.
Meanwhile, VPBank has just launched the VPBank Private duo of international credit and debit cards aimed at the affluent segment, featuring up to 2 percent unlimited cashback, free foreign transaction conversion, 5-star luxury resorts, premium yacht experiences, and global travel insurance.
Sacombank also implemented the "Tap Visa - Brilliant Gifts" program, running until December 31, 2025. Accordingly, customers who newly open a Visa card receive a cashback of up to VND500,000, cashback on transactions via Apple Pay, Google Pay, and Samsung Pay plus 11 percent and and 12 percent special cashback on November 11 on December 12 respectively, along with many gifts from major partners. Card users also have the chance to win one of the 10 iPhone 17 Pro Max 256GB through a lucky draw code.
SeABank also promoted offers upon issuing the Visa SeASoul 2in1 card, including a 15 percent discount on tickets for the live concert by female singer My Tam, as well as a "zero-VND ticket hunting" program for customers who spend VND5 million or more via the SeAMobile application.
