Consumer Payment Card News

Car Cards

While store credit cards are being cannibalized by bank credit cards, car manufacturers are gearing up to launch their own proprietary credit cards. This summer, Saturn and Ford will hit their showrooms with take-one offers for cards that allow you charge auto maintenance, among other stuff. The Saturn Card, to be issued by Household Bank, will offer customers the ability to finance parts and accessories purchases and receive special product and financing offers from Saturn’s 438 retailers across the USA. The Saturn Card carries an 18.4% APR with a promotion of: 90 days same as cash and no interest if paid off in 30 days. The new card extends the Household-General Motors relationship, which began with the 1992 launch of the GM MasterCard, a program that now has over six million members. Ford Motor Company and GE Card Services have begun a national launch of their new private label credit card. The no annual fee, Quality Care Auto Service Card, offers instant credit and same-as-cash financing with no payments for 90 days to qualified Ford, Lincoln, and Mercury customers. The other key benefits of the Ford program include the ability to offer on-the-spot financing and promotional financing terms up to 12 months. For more information visit www.saturn.com or www.ford.com.

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