Insider spotlight
Under the setup, eligible customers can hold both the Landers Cashback Everywhere Credit Card and Maya Black Credit Card. Spending on either card is deducted from the same total available credit.
Why it matters
The arrangement allows Maya to broaden its credit card offering without automatically extending additional credit to customers who take a second card.
It also gives the fintech a way to target different spending behavior within the same credit relationship, with one card centered on cashback and the other on travel and lifestyle rewards.
Purchases across the two cards draw from the same available limit, according to a company release. The cards, however, maintain separate statements of account showing their respective transactions and amounts due.
The details
The Landers Cashback Everywhere Credit Card offers 5 percent cashback at Landers Superstore, 2 percent on dining and 1 percent on most other transactions. Cashback can be applied to purchases at Landers.
The Maya Black Credit Card offers up to 10x Maya Miles at Maya Black Preferred Merchants, with accumulated miles redeemable for travel and lifestyle rewards.
Zoom in
Customers can track both cards through the Maya app, including spending on each card and the remaining shared credit available.
The structure means using one card reduces the amount available on the other. Holding both cards therefore expands the types of rewards available to a customer, but not the customer's total credit limit.
The bigger picture
Maya is effectively using a shared credit line to house multiple card propositions, rather than treating each card as a separate source of credit.
That gives the company room to offer cards aimed at different spending categories while keeping a customer's overall credit exposure under one limit. —Princess Daisy C. Ominga | Ed: Corrie S. Narisma
