Kmart has switched the “Blue Light” on for a new MasterCard. Capital One and Kmart are hitting the mailboxes across the country with a new co-branded bank credit card. The new Kmart MasterCard combines the store card benefits with MasterCard’s global acceptance. Kmart MasterCard cardholders will receive benefits such as special promotions and a 0% interest rate for six months on all Kmart purchases made with the new MasterCard. Furthermore, all purchases made with the Kmart MasterCard at Kmart’s Web site (www.bluelight.com) can be returned or exchanged at any local Kmart store. The APR for non-Kmart purchases and for Kmart purchases after the intro period is prime +10.3%. There is no annual fee for the new MasterCard. However accounts 30+ days past due will incur a $4 monthly membership fee. Consumers can apply for the Kmart MasterCard via 1. any Kmart store (except Puerto Rico, Guam, and the US Virgin Islands); 2. Phone at 1-800-GO-KMART; 3. Online at www.BlueLight.com; or 4. by responding to the offer in your mailbox.