Payment Card News

Stockback MasterCard

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As the Stockback MasterCard enters its third month, Chase announced this week that more than 85 retail merchants are now involved in the program. The new card is unique as it enables cardholders to earn cash rewards that can be automatically invested in a mutual fund with Merrill Lynch. Cardholders earn 1% cash back on all purchases, and up to an additional 10% cash back on purchases made at participating Stockback merchants. Cardholders can keep their rewards as cash, or they can have them automatically invested in a mutual fund. Cardholders can withdraw funds at any time and there is no limit on the amount of rewards a cardholder can accumulate by using the card. Participating merchants include Sunoco, Linens ‘n Things, Radio Shack, Hertz, Dell, CVS, Barnes & Noble, L.L. Bean, US Airways, Hallmark.com, and The Sharper Image. The new card carries no annual fee and an introductory rate of 2.99% on purchases and cash advances. Afterwards, interest rates for relationship cardholders range from 9.24% to 13.24% depending on the balance. APRs for non-relationship cardholders range from 10.24% to 14.24%. For more information visit http://www.chase.com.

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