UOB : U11 0%’S bet on Taylor Swift is bearing fruit – fans are signing up for the lender’s credit and debit cards to get ahead in the queue for tickets. 

The American pop star is performing in Singapore come March 2024 as part of her much-hyped Eras Tour. UOB, the official bank for the concert, is offering a presale for its customers and has reserved tickets for UOB cardholders during the general sale.

In a statement on Tuesday (Jul 4), the bank said there has been a surge in both credit and debit card applications since Swift announced her stop in Singapore – the only one she is making in South-east Asia.

Daily average credit card applications across Singapore, Thailand, Malaysia, Indonesia and Vietnam jumped 45 per cent in the week of Jun 21 to Jun 27. 

Debit card applications in Singapore and Vietnam climbed nearly 130 per cent over the period. 

Across the five Asean markets, a third of the total number of credit cards that were approved in the Jun 21 to Jun 30 period were granted to customers aged 30 to 40 years, closely followed by 20- to 30-year-old applicants, who accounted for 32 per cent of those approved for a credit card. 

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Jacquelyn Tan, UOB’s head of group personal financial services, noted that female applicants formed the majority of new credit card applicants, at 52 per cent. The most popular cards were the UOB One Credit and Debit cards.

In Singapore, the proportion of new cardholders aged 25 to 29 rose to 27 per cent in the week following the announcement of the concert, from 22 per cent in the preceding weeks in June. 

The proportion of female cardholders was also up 10 per cent in the same week, compared with the earlier part of June, when the male-female mix was almost equal. 

UOB is expecting an upswing in travellers to Singapore next year, based on its card application data.