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Diamond studded credit card launches

Back in the late eighties flashing a bit of plastic was a sure fire way to show off your status, it was on a par with those ugly, brick sized mobile phones.

More from Spending Money
10 November 2008

Diamond studded credit card launches

Diamond studded credit card launches

Rich people can afford to have such cards. It’s a question of prestige to have them in your wallet.

However, while most of us have got over the thrill of the ‘charge it’ era and we now consider our cards' most spectacular quality the ability to open Yale locks in episodes of old detective shows, those in Kazakhstan have other ideas.

Apparently, plain old credit cards are not glamorous enough for the rich and stylish in Kazakhstan. A popular bank in the country is trying to lure in new billionaire customers with a special card which features a real diamond set into the plastic.

The diamond card

We might be facing a recession and worrying about our credit cards but in Kazakhstan the Kazkommertsbank has joined forced with Mastercard to create a sparkling new product.

The card which is simply called ‘Diamond’ is intended for an ever increasing number of billionaires in the country and it has a 0.02 carat diamond set into its centre.

His and hers versions of the card are being launched and each feature a different image. The card for men has a picture of a pegasus (winged horse) and the card for women features a peacock.

Costly credit

The cards have a whopping annual fee of $1,000 which is roughly £600, but well-to-do billionaires can spend up to £30,000 on the card. Card owners will also have a 24/7 account manager which is expected to also offer concierge services.

It has also been reported that the card has been tested thoroughly to ensure that it will fit into cash machines and cash register transaction slots.

Furthermore, the cards are exclusive with a run of just 1,000 in total and only 30 issued each month. According to a statement by Alla Voyakina the bank hopes the card will appeal to "the best VIP customers".

According to recently published figures there are an estimated 12,000 millionaires in the nation which has an overall population of 16 million.

It is also believed that the number of millionaires in Kazakhstan is on the rise and that the central East Asian country has a high number of residents who are considered ‘recession proof’, it is these unusually wealthy people the Kazkommertsbank hopes to entice.

Elegance and status

Kazakhstan is the final Soviet republic to declare its independence and it has a plentiful supply of fossil fuels such as coal and many exportable minerals.

The country also produces diamonds and has intentions to be the world’s most successful uranium exporter by the end of the decade.

Describing the diamond in the card as a ‘design feature’ which is intended to express the high status of the card’s owner, Voyakina said: “Rich people can afford to have such cards. It’s a question of prestige to have them in your wallet.”

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