Credit News
September 2007
September 2007
Citi and AT&T to Offer Two New AT&T Universal Credit Cards
September 7, 2007
Citi has launched the AT&T Universal Savings and Rewards Card
and the AT&T Universal Savings Platinum Card. The new credit
cards offer cardmembers incredible savings on AT&T products
and services. Cardmembers will enjoy a 10% savings on every
dollar they spend on eligible AT&T products and services for the
first 12 months and then will receive 5% thereafter. Cardmembers
will also be automatically enrolled in Citi's ThankYou Rewards
Network. This free rewards program allows cardmembers to earn
rewards points that may be redeemed for gift cards, merchandise
and travel. The two new AT&T Universal cards can also save you
money because neither one has an annual fee and they both
offer a 0% APR on balance transfers for the first 12 months.
Target to Consider Selling $7 Billion in Credit Card
Accounts
September 12, 2007
Target announced today that they are interested in selling its
credit card receivables. Right now customers owe almost $7 billion
on credit cards that Target issues. Target would like to sell the
credit card receivables to help repurchase shares of its own stock
and also to lower its exposure to the risk of defaults. Targets
credit card operations has been profitable, earning Target a 13%
return for the year ending last February. Double digit growth of
Targets credit card portfolio has made it one of the top ten largest
issuers of credit cards in the United States. If Target did sell its
credit card receivables it would more than likely continue to
market the cards and provide customer service. Targets final
decision on whether or not to sell its credit card receivables is
expected to occur by the end of December after it reviews its
options.
Chase Launches Improved Chase Freedom Card
September 17, 2007
Chase Card Services announced today the launch of its improved
Chase Freedom Card. The Chase Freedom card offers triple
rewards that automatically adjusts to customers spending habits.
The way it works is the cardmember will earn triple rewards on
purchases in the top three everyday categories where the
cardmember spends the most. There are 15 categories in which
the cardmember can earn triple rewards including grocery stores,
gas stations, utilities, and fast food restaurants. Like the original
Chase Freedom card this card offers the cardmember the ability
to change whether to earn cash back or earn reward points. In
addition if the cardmember chooses the cash back option they will
earn an additional $50 for every $200 dollars earned and
redeemed. The Chase Freedom card also allows the
cardmembers to earn rewards on every purchase and it has no
annual fee.
Citi & Expedia Launch the Citi PremierPass / Expedia.com
Card
September 28, 2007
In order to combine the benefits of two industries, Citi and Expedia
have partnered together to offer the Citi PremierPass /
Expedia.com Card. The Citi PremierPass / Expedia.com card
allows travelers to earn ThankYou Points for everyday purchases
made with the card. Citi PremierPass / Expedia.com cardmembers
will also earn up to 3 points for every $1 spent on Expedia
transactions and 2 points for eligible travel purchased on
Expedia.com. To earn points the cardmembers ThankYou
Member Account number has to be registered at Expedia. In
addition cardmembers will earn 1 point for every 3 miles flown on
any airline and 1 point for every $1 spent on all purchases.
Cardmembers will also receive a $100 statement credit after their
first eligible Expedia purchase.
September 7, 2007
Citi has launched the AT&T Universal Savings and Rewards Card
and the AT&T Universal Savings Platinum Card. The new credit
cards offer cardmembers incredible savings on AT&T products
and services. Cardmembers will enjoy a 10% savings on every
dollar they spend on eligible AT&T products and services for the
first 12 months and then will receive 5% thereafter. Cardmembers
will also be automatically enrolled in Citi's ThankYou Rewards
Network. This free rewards program allows cardmembers to earn
rewards points that may be redeemed for gift cards, merchandise
and travel. The two new AT&T Universal cards can also save you
money because neither one has an annual fee and they both
offer a 0% APR on balance transfers for the first 12 months.
Target to Consider Selling $7 Billion in Credit Card
Accounts
September 12, 2007
Target announced today that they are interested in selling its
credit card receivables. Right now customers owe almost $7 billion
on credit cards that Target issues. Target would like to sell the
credit card receivables to help repurchase shares of its own stock
and also to lower its exposure to the risk of defaults. Targets
credit card operations has been profitable, earning Target a 13%
return for the year ending last February. Double digit growth of
Targets credit card portfolio has made it one of the top ten largest
issuers of credit cards in the United States. If Target did sell its
credit card receivables it would more than likely continue to
market the cards and provide customer service. Targets final
decision on whether or not to sell its credit card receivables is
expected to occur by the end of December after it reviews its
options.
Chase Launches Improved Chase Freedom Card
September 17, 2007
Chase Card Services announced today the launch of its improved
Chase Freedom Card. The Chase Freedom card offers triple
rewards that automatically adjusts to customers spending habits.
The way it works is the cardmember will earn triple rewards on
purchases in the top three everyday categories where the
cardmember spends the most. There are 15 categories in which
the cardmember can earn triple rewards including grocery stores,
gas stations, utilities, and fast food restaurants. Like the original
Chase Freedom card this card offers the cardmember the ability
to change whether to earn cash back or earn reward points. In
addition if the cardmember chooses the cash back option they will
earn an additional $50 for every $200 dollars earned and
redeemed. The Chase Freedom card also allows the
cardmembers to earn rewards on every purchase and it has no
annual fee.
Citi & Expedia Launch the Citi PremierPass / Expedia.com
Card
September 28, 2007
In order to combine the benefits of two industries, Citi and Expedia
have partnered together to offer the Citi PremierPass /
Expedia.com Card. The Citi PremierPass / Expedia.com card
allows travelers to earn ThankYou Points for everyday purchases
made with the card. Citi PremierPass / Expedia.com cardmembers
will also earn up to 3 points for every $1 spent on Expedia
transactions and 2 points for eligible travel purchased on
Expedia.com. To earn points the cardmembers ThankYou
Member Account number has to be registered at Expedia. In
addition cardmembers will earn 1 point for every 3 miles flown on
any airline and 1 point for every $1 spent on all purchases.
Cardmembers will also receive a $100 statement credit after their
first eligible Expedia purchase.
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