Consumer Payment Card News

Citibank Golf Card

Citibank and Golden Bear Golf, Inc. jointly announced the launch of a new credit card product Tuesday, the Citibank Jack Nicklaus Visa Card, designed to target avid golfers and lifetime fans of Jack Nicklaus. The Card, which will be offered as a Citibank Platinum Select Card, features Jack Nicklaus’ signature across the front, as well as an etching of the 12th hole at Castle Pines, a Nicklaus designed golf course.

The Citibank Jack Nicklaus Visa Card carries no annual fee and has an introductory annual percentage rate of 6.9% for the first six months. After that time, the APR will be set at prime +8.65%.

For a $35 annual fee, golf fans can choose to carry a version of the Citibank Jack Nicklaus Visa Card that features the “Nicklaus Reward Program.” This program enables cardmembers to earn one point on every dollar charged for any kind of purchase, plus extra points for purchases made at the Nicklaus/Flick Golf School, or through the website http://www.golfweb.com. Points can be redeemed for free golf vacations.

FULL STORY:
Citibank and Golden Bear Golf, Inc. today jointly announced the launch of a new credit card product, the Citibank Jack Nicklaus Visa Card, designed to target avid golfers and lifetime fans of Jack Nicklaus. The Card, which will be offered as a Citibank Platinum Select(SM) Card, features Jack Nicklaus’ signature across the front, as well as an etching of the 12th hole at Castle Pines, a Nicklaus designed golf course.

Special Benefits, No Annual Fee

All cardmembers will receive special offers periodically, including previews of new equipment, apparel and accessories. Plus, during the first year, for every purchase made with the card, each cardmember will also receive one entry in the monthly Nicklaus Sweepstakes. Prizes include trips to Nicklaus Collection Resorts, as well as an opportunity to play a round of golf with Nicklaus himself. Finally, in each monthly statement, every cardmember will receive a golf tip direct from Jack Nicklaus.

The Citibank Jack Nicklaus Visa Card carries no annual fee and has an introductory annual percentage rate of 6.9% for the first six months. After that time, the APR will be set at prime +8.65%.

Purchase Reward Program

For a $35 annual fee, golf fans can choose to carry a version of the Citibank Jack Nicklaus Visa Card that features the “Nicklaus Reward Program.” This program enables cardmembers to earn one point on every dollar charged for any kind of purchase, plus extra points for purchases made at the Nicklaus/Flick Golf School, or through the website http://www.golfweb.com. Points can be redeemed for free golf vacations to Nicklaus-designed Resort courses, instruction at the Nicklaus/Flick Golf School, Nicklaus Golf Equipment, Nicklaus Apparel, Nicklaus Accessories, Rockport golf shoes and Maxfli golf balls. There is no annual cap on the number of points cardmembers can earn, and for select items, cardmembers can combine cash with points to receive rewards.

“I’m pleased to introduce a credit card that will give something back to what has been and continues to be an extremely large and loyal contingent of golfing fans,” noted Jack Nicklaus, Chairman of the Board for Golden Bear Golf, Inc. “We chose Citibank as our partner because it’s the top provider of credit card products, and its dominant market presence insures that we can reach all of our potential customers with this great new card.”

“Our partnership with Jack Nicklaus and Golden Bear Golf is in keeping with our long-standing goal of teaming with the best, so we can offer cardmembers superior card products and benefits,” explained Jay Guskind, President of Citicorp Retail Services. “We’re confident that Mr. Nicklaus’ #1 standing in the history of golf — and in the hearts of golfers everywhere – will be reflected in the brand strength of this new product. In fact, one might say that as far as co-branded product launches go in the credit card industry, this promises to be a hole-in-one.”

Application for the Citibank Jack Nicklaus Visa Card can be made by calling (800) 237-7548.

Golden Bear Golf is a diversified, international brand name golf products and services company engaged in the development, marketing and management of golf-related businesses including the licensing, ownership and operation of golf practice and instructional schools; the construction and renovation of golf courses; the marketing of golf course design services; and the licensing, distribution and sale of golf-related consumer products.

Citibank is the largest issuer of MasterCard and Visa in the country, with over 37 million cards in circulation.

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