Consumer Payment Card News

Investor Visa

Charles Schwab has introduced a new cash-back credit card for its 7.4 million client brokerage accounts, 1.3 million corporate retirement plan participants, and 427,000 banking account customers. The new “Schwab Bank Invest First Visa Signature” credit card offers an unlimited 2% cash-back on purchases that is automatically deposited into a Schwab One brokerage account each month. Clients can choose to invest their accumulated deposits at a time of their choosing by selecting a Schwab offer. The new card offers a prime +9.99% APR and has no annual fee. The Schwab card also promotes no foreign exchange transaction fees. For clients who qualify for a credit line of $5,000 or more, the “Schwab Bank Invest First” credit card offers “Visa Signature Dining with Zagat” ratings and reviews, “Visa Signature Access” to exclusive events, and no preset spending limit. The credit card program is issued and administered by BofA’s FIA Card Services. For more information visit: “www.schwab.com/creditcard”:htp://www.schwab.com/creditcard

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