Diamond-encrusted credit cards for "VVIP" clients

In a move that brings a whole new meaning to flashing your cash, a South Korean company has designed a diamond-encrusted credit card that will attract so-called "VVIP" clients.

Kim Sam-sun, the president and chief executive of GK Power, which produced the cards, said: "VVIP customers want differentiation, and banks want to attract these big spenders."

The Seoul-based company has now developed the luxury High End card, which embeds 1mm by 1.65mm diamonds into a silver rivet on a black high-gloss card. GK Power has also produced a black and gold embossed card with embedded diamonds which, entitled the Royal Legend, is supplied only to royal Middle Eastern families through a contract with Dubai First Bank.

Mr Kim estimated that this year's sales of about £6m would almost treble next year. "There is always that top millionaire class anywhere, and that's the crowd we're initially aiming for," he said.