Cobranded reward cards are alive as discount apparel retailer Loehmann’s and First USA rolled out a new ‘Platinum VISA’ Monday. The ‘Loehmann’s Insider Club Platinum Visa’ offers cardholders a 3% rebate on all Loehmann purchases and 1% rebate on all other purchases. Consumers applying before February also receive a $25 gift certificate. The new card also includes current ‘Insider Club’ benefits such as 10% off on the first Tuesday of every month and 15% off on the member’s birthday. First USA is offering its core pricing of a 5.9% five-month intro rate and a fixed 13.99% long term rate.
Loehmann’s Inc., the nation’s leading upscale off-price specialty retailer, has debuted a co-branded credit card, the Loehmann’s Insider Club Platinum Visa.
The card, issued by First USA, features an introductory 5.9% APR for five months and $25 gift certificate to applicants who respond before February 1998. After five months, Cardmembers receive a 13.99% APR.
“We are excited to offer our customers the new Loehmann’s Insider Club Platinum Visa,” said Robin Hall, vice president of marketing. “Loehmann’s prides itself on high quality and value, and this card presents a great opportunity to offer our customers a great added value. We are also pleased to partner with First USA, who shares our commitment to quality and value.”
Members of the current Insider club, which provides benefits like 10% off on the first Tuesday of every month and 15% off on member’s birthdays, will receive additional benefits through the Loehmann’s Insider Club Platinum Visa, including 3% back on purchases made at Loehmann’s and 1% back on purchases made elsewhere.
To apply, customers may call 800/451-2491 or pick up an application at any Loehmann’s store.
Loehmann’s Inc. is a leading specialty retailer of well-known designer and brand name women’s fashion apparel, accessories and shoes at prices that are typically 30% to 65% below department store prices. This fall, Loehmann’s will debut men’s apparel in 19 stores nationwide. Loehmann’s operates 76 stores in major metropolitan markets located in 23 states.
First USA (www.firstusa.com), an affiliate of BANC ONE CORPORATION, is a financial services company specializing in the credit card business and is among the largest providers of Visa, MasterCard and private label credit cards in the nation. First USA has approximately 40.4 million credit cards issued and $38.9 billion in total loans outstanding.