Consumer Payment Card News

Stockback MasterCard

If you’re thinking about jumping back into the stock market there is a new credit card that might get you ahead of the curve and with little risk. Chase and Stockback Capital have teamed up to offer a MasterCard that gives you up to 11% of your purchases back in the form of rewards that are automatically invested in a mutual fund. The Stockback MasterCard from Chase offers you up to 10% back with participating merchants and at least 1% back on every purchase. Once a month, your Stockback rewards are automatically placed in an investment account managed by Merrill Lynch. Cardholders can withdraw the money at any time, for any reason. Participating merchants include US Airways, Sunoco, Barnes & Noble, CVS Pharmacy, Galyan’s, Radio Shack, Linens & Things, Jos A Bank, and about 80 online merchants. The new card carries no annual fee and an introductory rate of 2.99% on purchases and cash advances. Afterwards, interest rates for Platinum cardholders range from 9.99% to 12.99% depending on the balance and current relationship with Chase. APRs for Standard cardholders is 13.99% for Chase Banking customers and 14.99% for non-customers. For more information visit http://www.stockback.com.

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