Wal-Mart China, Shenzhen Development Bank (SDB) and GE Money has jointly launched a co-branded credit card. The Wal-Mart Changxiang Card, a Visa and China UnionPay dual labeled credit card, is Wal-Mart’s second in China following a deal with China’s Bank of Communications.

The GE Wal-Mart card will be offered in southern China, while the Bank of Communications card is available in the northern part of the country. Both credit cards are dual-currency, and can be used inside China and abroad.

Every Wal-Mart Credit Card holder is able to enjoy a rebate of up to 1%, which can be used to exchange any goods of the same value in any Wal-Mart Supercenter or SAM’s CLUB store throughout China. Cardholders can earn rebates on their purchases everywhere around the world, so as to enjoy shopping. Now, applicants for the Wal-Mart Credit Card will enjoy a first-year annual fee waiver. Upon 12 purchases with the card in the first year, the second-year annual fee will be also exempted. ( Wal-Mart China )

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