Central The One Credit Card

What Central The One Credit Card does

Central The 1 Credit Card is a co-branded Thai credit card portfolio operated by General Card Services Co., Ltd. (บริษัท เจเนอรัล คาร์ด เซอร์วิสเซส จำกัด), a subsidiary of Krungsri Consumer Group (Bank of Ayudhya), in partnership with Central Group, Thailand's leading retail conglomerate. The portfolio serves Thai consumers through five card tiers—REDZ (entry-level, 15,000 THB/month minimum income), LUXE (premium, 100,000 THB/month, 4,280 THB annual fee), First Choice (12,000 THB/month), and the invitation-only BLACK and THE BLACK tiers—plus a personal loan product, all operating on the Mastercard network. As of end-2024, the portfolio had over 900,000 cardholders and 125,000 million THB in cumulative card spending, representing approximately 5.5% market share in Thailand's credit card market (2025).

The offering is positioned as a lifestyle finance product embedded within Central Retail Group's merchant network, with The 1 loyalty points as the core rewards currency. The proprietary technology layer is the T1 Dynamic Points feature, which uses AI-driven analytics to identify trending spending categories monthly and award up to 20x points on the 15th of each month in those categories. The UCHOOSE mobile application provides the digital interface with modules for account management (U Manage, U Pay), cash services (U Cash, U Plan), and lifestyle content (U EATS, U MALL, U Trend), with NDID (National Digital ID) integration for streamlined onboarding. Distribution combines digital self-serve via UCHOOSE and The 1 app, in-store at Central Group retail locations, and the Krungsri branch network.

Revenue is generated through multiple streams: interchange and merchant transaction fees from Mastercard processing (the principal revenue mechanism funding The 1 loyalty points), interest on revolving balances (16% per year), cash advance fees (15% interest + 2.5% fee), installment plan fees (0.49% flat monthly, 8.80–16.00% effective annual), and annual membership fees. The business is structured as a joint venture between Krungsri Consumer (which provides banking infrastructure, underwriting, and servicing under General Card Services Co., Ltd.) and Central Group (which provides the retail merchant ecosystem and customer base), with the partnership renewed for 8 additional years in 2025. The 2025 target is 100,000 new card accounts and 137,000 million THB in card spending volume, representing 10% YoY growth.

Name

Central The One Credit Card

Legal name

บริษัท เจเนอรัล คาร์ด เซอร์วิสเซส จำกัด (General Card Services Co., Ltd.)

Website

https://centralthe1card.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

Central The 1 Credit Card is a co-branded Thai credit card portfolio operated by General Card Services Co., Ltd. (Krungsri Consumer Group) in partnership with Central Group, serving 900,000+ Thai consumers across five card tiers integrated with The 1 loyalty platform and Central Retail's merchant ecosystem.

Ownership category

akta.pro rank

Product category

Consumer Credit Cards

NAICS

Credit Card Issuing (522210), Credit Card Issuing (52221)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Co-Branded Credit Cards (FSAKABAB)

akta.pro secondary industries

Rewards & Loyalty Credit Cards (FSAKABAH), General Purpose Credit Cards (FSAKABAA), Credit Cards & Revolving Credit (FSABAAAC), Co-Branded Credit Card Partnerships (Issuers/Networks) (THABAKAD)

Keywords

• Co-branded credit cards
• Consumer lending products
• Loyalty rewards platform
• Retail banking services
• Personal loan products

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations, Infrastructure

Revenue model

1. Annual/Membership Fees: Card annual fees charged to cardholders. The LUXE card offers first-year annual fee waiver worth 4,280 baht.
2. Interchange and Transaction Fees: Revenue from merchant discount rate (MDR) on all card transactions processed through the card network (Mastercard). The 1 loyalty points and Dynamic Points are earned on cardholder spending, funded by interchange revenue from merchants.
3. Interest Income: Interest revenue from revolving balances and cash withdrawals. Standard interest rate is 16% per year for purchases paid in full; cash advance interest at 15% plus 1% facility fee. Personal loan interest at 25% per year.
4. Installment Plan Fees: Revenue from installment plan conversions. Flat interest rate starting from 0.49% per month (effective rate 8.80%-16.00% per year) for converted installment tenures of 3-10 months.
5. Cash Advance Fees: Fees from cash withdrawal services. Cash advance fee of 2.5% of withdrawal amount (plus VAT), and foreign currency conversion fee up to 2.5% on foreign currency transactions.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels10 records

Core offering

Central The 1 Credit Card is a co-branded credit card portfolio operated by General Card Services Co., Ltd. under Krungsri Consumer Group and Central Group partnership, offering five card tiers (REDZ, LUXE, BLACK, THE BLACK, First Choice) running on the Mastercard network. The cards earn The 1 loyalty points on spending, with the T1 Dynamic Points feature offering monthly bonus points on the 15th of each month. The portfolio also includes a personal loan product and is supported by the UCHOOSE mobile application for card management, payments, and lifestyle services.

Product overview

Central The One Credit Card is a co-branded credit card portfolio operated by General Card Services Co., Ltd. under Krungsri Consumer Group and Central Group partnership. The portfolio consists of five distinct credit card tiers (REDZ, LUXE, BLACK, THE BLACK, First Choice) and a personal loan product, all integrated with The 1 loyalty platform. The offering is complemented by the UCHOOSE mobile application providing card management, payments, and lifestyle features. T1 Dynamic Points serves as a dynamic rewards module within the loyalty ecosystem, offering variable bonus points on the 15th of each month based on trending spending categories.

Differentiator

Problem solved

Functional benefit

Brands

• Central The 1 REDZ: Credit card targeting everyday lifestyle spending with The 1 points earning up to 3x and discounts up to 10% at Central Group merchants. Minimum income requirement: 15,000 THB/month.
• Central The 1 LUXE
• Central The 1 BLACK
• Central The 1 THE BLACK
• Central The 1 First Choice
• สินเชื่อส่วนบุคคล เซ็นทรัล เดอะวัน (Central The 1 Personal Loan)
• UCHOOSE

Products and services

• Central The 1 REDZ Credit Card Entry-level credit card targeting working professionals with minimum monthly income of 15,000 THB. Offers The 1 points earning up to 3x on spending, up to 5% discounts at Central Group merchants, up to 10x points at GO WHOLESALE, and travel privileges at Centara hotels.
• Central The 1 LUXE Credit Card Premium credit card for high-income earners with minimum monthly income of 100,000 THB. Waived first-year annual fee of 4,280 THB and offers enhanced privileges at luxury retailers, hospitality partners, The 1 points up to 4x, and discounts up to 10% at Central Group merchants.
• Central The 1 BLACK Credit Card Invitation-only premium credit card tier offering exclusive benefits and higher point earning rates at select partner merchants.
• Central The 1 THE BLACK Credit Card Top-tier invitation-only credit card providing the highest level of privileges and exclusive services within the Central The 1 card portfolio, including special card loss coverage.
• Central The 1 First Choice Credit Card Cash card product for applicants with minimum monthly income of 12,000 THB, offering quick approval and flexible repayment options. Co-branded with First Choice brand and managed under separate First Choice platform.
• Central The 1 Personal Loan Personal loan product under the Central The 1 brand, offering installment payment options for cardholders with competitive interest rates at 25% per year.
• UCHOOSE Mobile Application Comprehensive lifestyle mobile application for Central The 1 cardholders featuring U Manage (account management), U Pay (bill payment), U Insure (insurance products), U Like (personalized promotions), U Trend (trending content), U EATS (food deals), U CASH (cash withdrawal), U PLAN (installment conversion), U MALL (brand deals), QR payments, expense tracking, and utility bill management. Available on Google Play, App Store, and Huawei AppGallery.

Quantifiable outcome

• 900,000+ cardholders as of end of 2024, up from 15,000 at inception in 1998
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, secondary and minor.

• Central GroupcoreStrategic or Co-development Partner · 1 January 1998Co-brand partnership with Central Group for the Central The 1 Credit Card. Central Group provides the retail merchant ecosystem including Central department stores, Tops, Thai Watsadu, GO WHOLESALE, Central Food Retail, and Central Embassy. The partnership dates back to 1998 when the card was originally launched as Central Card. The partnership was extended for another 8 years in 2025 under the new General Card Services operation.
• Krungsri Consumer (Bank of Ayudhya Public Company Limited)coreStrategic or Co-development Partner · 1 January 1998Banking infrastructure partner providing credit card operations, processing, and customer servicing through General Card Services Co., Ltd. (บริษัท เจเนอรัล คาร์ด เซอร์วิสเซส จำกัด). The partnership was renewed for 8 additional years in 2025, with General Card Services as the card issuer under the Krungsri Consumer group.
• The 1 (Loyalty Platform)coreStrategic or Co-development PartnerIntegration with The 1 loyalty program, Thailand's leading loyalty platform. The 1 points are the primary rewards currency for the card, earning up to 4x points on Central Group spending. The 1 app also serves as a card acquisition channel.
• MastercardcoreTechnology or IntegrationCard network partnership providing the payment infrastructure for all Central The 1 Credit Cards. All cards operate on the Mastercard network.
• Centara Hotels & ResortssecondaryStrategic or Co-development PartnerExclusive hotel partnership providing cardholders with complimentary nights (3 nights stay, pay 2), room discounts up to 20%, and up to 6x The 1 points on hotel stays. Applicable at Centara and SALA properties in Thailand and internationally.
• SALA Resorts and SpassecondaryStrategic or Co-development PartnerHotel partnership offering complimentary nights (3 nights stay, pay 2) and room discounts at SALA boutique hotels and resorts.
• Central Retail GroupcoreStrategic or Co-development PartnerPartnership for joint promotional campaigns such as 'Central Retail X T1 Magical Day' where cardholders receive Magic e-Vouchers and exclusive packs when spending at Central Retail merchants. The partnership encompasses all Central Retail brands including Central, Robinson, Tops, and others.
• Krungsri Consumer Anti-Corruption Partnership (CAC)minorOthersKrungsri Consumer (including General Card Services) is a certified member of the Thai Private Sector Collective Action Against Corruption (CAC), renewed for the 4th consecutive time in 2023. Demonstrates corporate governance commitment.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• AEON Credit Service (Thailand): Thailand-based consumer credit card and personal loan issuer with a multi-tier card portfolio serving mass-market Thai consumers, directly comparable to Central The 1's consumer credit model and product tiering approach.
• Tesco Bank (UK): UK-based retail co-branded credit card and personal loan issuer tied to Tesco's retail ecosystem and Clubcard loyalty program, directly comparable to Central The 1's Central-Group-anchored co-brand card and The 1 loyalty integration model.
• Target Circle Card: US-based retail co-branded credit card (issued by TD Bank) integrated with Target's retail ecosystem and Target Circle loyalty program; directly comparable to Central The 1's Central Group retail-anchored co-brand card and The 1 loyalty integration.

Broad incumbents

• Citibank Thailand credit cards: International bank with a premium credit card business in Thailand targeting affluent consumers; comparable as a competitor in the LUXE/BLACK premium tier segment of the Thai credit card market.
• Krungsri (Bank of Ayudhya) credit cards: The parent banking group of General Card Services, offering a broader portfolio of general-purpose credit cards with competing rewards programs; comparable as the incumbent card issuer whose infrastructure underpins the Central The 1 program.
• Kasikornbank (KBank) credit cards: One of Thailand's largest banks with a major general-purpose credit card portfolio and KBank co-branded partners; competes with Central The 1 for Thai consumer wallet share and rewards-led acquisition.
• Siam Commercial Bank (SCB) credit cards: Major Thai commercial bank with a large general-purpose credit card business and multiple co-brand partnerships; comparable as a broad incumbent card issuer competing in the same Thai consumer credit market.

Regional players

• Lotus's co-branded credit cards: Thai supermarket and retail chain with a co-branded credit card offering, comparable as a regional retail-anchored co-brand credit card targeting Thai everyday spend categories.
• Big C co-branded credit cards: Thai hypermarket retailer with its own co-branded credit card offering, comparable as a regional retail-anchored co-brand credit card competing in the same Thai market segment.
• HomePro co-branded credit cards: Thai home improvement retailer with co-branded credit card products offering spending-linked promotions, comparable as a regional retail co-brand card focusing on a specific lifestyle spending category.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/centralthe1card
• YouTubeyoutube.com/c/centralthe1creditcard
• Facebookfacebook.com/CentralThe1CreditCard
• Instagraminstagram.com/centralthe1creditcard
• TikToktiktok.com/@centralthe1creditcard

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Central The One Credit Card