Consumer Payment Card News

WebMiles MasterCard

Combine the Internet with a credit card and an air mileage program and you get the WebMiles MasterCard. Salt Lake City-based WebMiles and Metris Companies/Direct Merchants Bank officially launched the WebMiles MasterCard this week. Under the new program, cardholders will earn rewards toward free travel and travel discounts on any airline and any flight without blackout dates, seating limitations, 21-day advanced notice, required Saturday night stays or cost caps. The WebMiles MasterCard enables consumers to earn one WebMiles reward per dollar spent on card purchases and extra miles for using the card when shopping within the WebMiles partner network. There are three different card levels including Platinum, Standard and Secured. Cardholders will pay annual fees of $25 or $39 for the Standard or Platinum version with an introductory APR as low as 2.9 % and 14.49% APR thereafter.

ANNUAL  FEE:               $25          $25        $39        $39
PURCHASE APR:             14.49%        17.49%     21.49%    25.49%
DEFAULT APR:              18.49%        21.49%     25.49%    29.49%
DELINQUENCY APR:          22.49%        25.49%     29.49%    33.49%
note: all APRs are variable and based on a 9.50% Prime Rate

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