With this vision, VIB launched Max Card, the first credit card line that allows customers to actively register and adjust their membership tier according to personal needs, earning it a Vietnam Record. Following this event, Ms. Tuong Nguyen, Deputy CEO of VIB, shared with VnExpress about the bank's product philosophy and long-term direction, aiming to lead the banking card market in the next three years.

Tuong Nguyen, Deputy CEO of VIB. Photo: VIB

VIB shifted its credit card model from fixed tiers to active feature selection to better align with evolving consumer behavior. The bank drew inspiration from successful models in major global markets like N26 and Revolut. These platforms currently serve over 50 million users in Europe, not by inventing entirely new technology, but by launching at a time when users were ready for the "pay for what you need" mindset.

In Vietnam, VIB identified three converging signals: smartphone usage currently accounts for over 70% of the population, cashless payment growth has seen continuous double-digit increases for many years, and most importantly, Gen Z is accustomed to spending with a "choose your package" mindset from digital platforms. Therefore, the ability to actively select suitable financial service packages and pay according to individual needs will be readily embraced. The question for VIB's product development team was no longer "should we do it," but "how to do it best."

The most appealing aspect of Max Card lies in its flexibility, a departure from traditional credit card offerings. Previously, when customers opened a card, the tier and accompanying privileges were always preset by the bank, based on income, assets, or credit history. Customers received a fixed package of benefits with limited options for change throughout the card's lifespan. The card segment operated this way for many years.

Max Card VIB is built on an inverse philosophy: the credit card can be flexible according to each person's needs. Instead of binding cardholders to an unchangeable benefits package, this product allows cardholders to actively choose a package to upgrade privileges through four flexible membership packages, adjustable every three months. When needs change, such as during travel or shopping seasons, or when entering a new life stage, cardholders can proactively adjust their membership package to enjoy corresponding benefits at their desired fee, without depending on the bank's decision.

The card sets no conditions for upgrading, requires no minimum spending, average balance, or tier maintenance criteria. Cardholders can register, modify, or cancel a package at any time, 24/7, with almost immediate effect. This feature differentiates it from traditional card tier mechanisms, which often impose financial barriers as a default condition.

Regarding benefits, the four membership packages are designed with clear logic: Starter is free for life with a 0.5% cashback rate; Plus and Pro correspond to fees of 1.2 million VND and 2 million VND per year, offering cashback up to 5% and 8% respectively. Elite, at a fee of 4 million VND per year, provides the highest cashback rate of 10% and an additional two free airport lounge passes. The maximum cashback can reach 18 million VND annually, providing frequent spenders with value that exceeds the fees paid. Additionally, cardholders who meet monthly spending conditions receive a full refund of that month's membership fee.

VIB received the Vietnam Record title because Max Card presented a genuinely differentiated product. The record came after the Vietnam Record Organization verified that no other card line in Vietnam allows customers to self-determine the upgrade of their own privileges. The key difference lies in the mechanism of benefit control. Instead of card tiers being determined by the bank based on financial profiles, Max Card holders decide the timing and extent of their upgrade, aligning with their actual spending needs. This model is unprecedented in the domestic credit card segment.

Young people using Max Card credit card. Photo: VIB

Max Card serves as a concrete product reflecting VIB's new direction, part of a broader, ongoing transformation. The bank is comprehensively restructuring its card strategy, starting with simplifying its product portfolio and genuinely focusing on customers' actual usage needs. Previously, the Vietnamese card market, including VIB, followed a trend of developing many card lines with fixed benefit structures, leaving customers to find the card that suited them. A single customer might own up to five different cards to serve diverse spending needs. VIB aims to change this approach: instead of customers adapting to cards, cards must adapt to the spending behavior and lifestyle of each individual. This is a long-term direction, and Max Card is the first product to clearly embody this philosophy, but it will not be the last. In June, VIB plans to launch One Card for the affluent segment.

Max Card and One Card are designed to complement each other, serving two distinct stages in an individual's financial journey rather than competing. Max Card is the choice for customers who need flexibility: those with frequently changing spending habits, seasonal needs, or who are not yet ready to commit to a long-term fixed benefits package. One Card targets individuals who have moved past that stage—those with stable incomes and established lifestyles who need a single card that can meet all their needs with the simplest usage, eliminating the need to carry multiple cards. The "one for lifetime" philosophy originates from this approach.

Looking at the overall portfolio, VIB is building a Youth Banking product ecosystem, targeting young customers. This ecosystem will accompany customers from their first transaction until they become affluent. Each product within it is designed to reflect the behavior and suit the actual needs of the customer group it serves.

Image of Max Card credit card. Photo: VIB

VIB's goal to lead the card market in the next three years is supported by its strong performance and strategic shifts. In 2025, VIB officially joined the "million card club" with over 1.1 million credit cards in circulation, a 29% increase from the previous year. Total spending via cards exceeded 5 billion USD for the first time, growing by 19%. These figures represent actual spending, indicating high usage frequency rather than mere card ownership. These numbers demonstrate that users are not just opening VIB cards—they are using them daily.

After many years, VIB cards, positioned as "leading card trend," have gradually demonstrated their leadership in benefits, experience, and technology for nearly 3 million cardholders. However, VIB's strategy does not stop at scale but is shifting its focus towards the quality of experience and usage value. While many banks still compete on quantity, VIB believes the true race in the coming period lies in personalization capabilities and the speed of product innovation. Beyond specific features, other card lines integrate Artificial Intelligence (AI) into operations, directly impacting customer experience rather than just being in the testing phase. For example, VIB's entire card opening process is digitized, allowing customers to open a card and use its virtual version within 5-15 minutes. This transformation is supported by various technologies and AI applications, such as scoring systems and electronic Know Your Customer (eKYC).

In the long term, VIB aims to transform cards into genuine spending assistants that optimize offers and support emerging financial needs at the point of use. The goal is to integrate financial services into a natural consumption experience, rather than having them exist in parallel and separately as they do today. This is something VIB has prepared for early, with the desire to gradually change how Vietnamese people use cards, empowering them to truly take control of their personal experience and finances in their own way.

Hoang Dan

Max Card can currently be opened entirely online on the Max powered by VIB application.