Consumer Payment Card News

Corvette Card

General Motors and Household Bank are revving up to put some more horsepower into their MasterCard program. Next month, Household and GM will unleash the first-ever officially licensed Corvette MasterCard. The credit card program will begin in June as part of the kickoff of Corvette’s 50th anniversary celebration. Household will offer the new credit card to approximately 500,000 Corvette car owners and enthusiasts via direct mail. Invitations will also be available online. Benefits include a 10% discount on 50th anniversary Corvette merchandise and a choice between two cards, one that pictures the classic 1953 Corvette, the first model to come off the production line, or the upcoming 2003 50th anniversary edition. The card will feature no annual fee as well as a 0% APR through December 31, 2002 for solicited cardholders, and 1.9% for six billing cycles for all other approved cardholders. The go to APR will be a 9.99% variable rate. The GM Card was launched with Household in September 1992 and now has 6 million cardholders. For more information visit

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