Payment Card News

Business Debit Miles

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Business cardholders can now earn air miles without the hassle of credit cards. The first co-branded debit card for small business was unleashed this week by Chase Manhattan and Continental Airlines. The new ‘Chase/Continental Business Banking MasterCard’ offers one ‘Continental OnePass’ mile for every dollar spent on purchases. New small business debit card customers will earn 1,000 bonus miles upon sign-up, and additional bonus miles each year upon renewal of the card. Miles earned accrue to a cardholder’s individual ‘OnePass’ account. The card carries a $65 annual fee. In late February, Chase introduced a consumer version of the co-branded debit card. Under the consumer program cardholders earn one ‘Continental OnePass’ mile for every two dollars spent on purchases. The annual fee for the consumer ‘Chase/Continental Banking MasterCard’ is $30. Both versions build on the Continental co-branded credit card which was re-launched by Chase in March, 1998. One key advantage of the Continental ‘OnePass’ program is that mileage does not expire. Earlier this summer, Citibank rolled out a business version of its American Airlines co-branded credit card program which offers small business owners the ability to accrue and consolidate air miles from up to nine employee cardholders. Citibank is charging a $75 annual fee for the primary cardholder and $25 per year for each additional card. Small business customers can obtain the card by visiting any Chase branch or by calling 1-800-Chase24.

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