Payment Card News

Shell MasterCard

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Citibank has taken over the “Shell MasterCard” program and is gassing-up up the rebate feature. The new “Shell MasterCard from Citi” is doubling the card’s regular 5% rebate on Shell gas purchases as part of an introductory program for those that apply for the new card by March 31st. New cardholders will receive a 10% rebate on each Shell gasoline purchase made within the first 60 days of the card’s activation. Thereafter the rebate reverts back to a 5% rebate on Shell gasoline purchases and 1% on all other retail purchases wherever the card is used. All rebates are applied as credits toward future Shell gasoline purchases. The card has no annual fee for the first year. And the $20.00 annual fee is waived after that, provided the cardholder makes 9 Shell gasoline purchases per year. Citi is charging a prime +9.99% interest rate on purchases. Balance transfers are 0% for the first six months followed by the prime +9.99% APR. The “Shell MasterCard” was originally launched by Chemical Bank, now Chase, in October 1993, and has grown to be the largest gasoline co-branded card in the USA. Chase lost the Shell co-brand contract last year. Consumers who have the old Shell MasterCard need to reapply if they want to take advantage of the introductory offer. For more information on the new Shell MasterCard from Citi Cards visit: “www.866getshell.com”:www.866getshell.com

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