Consumer Payment Card News

Super PrimeLock

About one out of ten consumers have received an invitation to apply for the Capital One “PrimeLock Platinum Card,” a card prominently advertised on television and in magazines. The card, which carries an interest rate equal to the current prime rate and no annual fee, was introduced in November. According to an informal poll of 1,000+ consumers, 76% said they have not received an offer for the card and 10% said they did not know. The poll was conducted in the first three weeks of January. Capital One is the largest producer of First-Class mail in the USA and the fourth-biggest customer of the U.S. Postal Service. Capital One mails out more than 1.2 billion pieces of mail annually.

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