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GM 4-Play

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The pioneer of co-branded rewards-based bank credit cards continues to deliver solid results more than 11 years after its launch. General Motors and Household Bank reported that the “GM MasterCard” recently passed the 4 million mark in new GM vehicle redemptions. GM says the “GM MasterCard” is used in about 12% to 14% of GMs retail transactions, and that in 2002 card redemptions delivered the equivalent of more than 2.5 points of market share for the auto manufacturer. As of January 2003, there were 6.9 million GM cardholders. To celebrate the 4 million redemption mark, GM announced that it awarded $4,000 in bonus “GM Card Earnings” to four cardholders on April 4th. The “GM MasterCard” was launched in September 1992 and offers five percent earnings on every credit card purchase that can be used to purchase or lease new GM cars, trucks and SUVs. The card was the most successful credit card product launch ever, producing three million cardholders and $2 billion in balances in its first three months. For more information visit www.gmcard.com.

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