Consumer Payment Card News

The HomeCard

A new credit/debit card designed to help home buyers save for a down payment is set to debut in 2010. With the new “HomeCard,” consumers can earn up to 25% cash-back on everyday purchases which can be deposited into an interest bearing FDIC insured savings account to help speed savings for down payments or to fund home repairs. The HomeCard will be available early in 2010 to consumers from all income brackets and credit scores at rates lower than what some banks are charging and will be either a MasterCard or Visa card, and will be offered as a debit card, a secured credit card, or as a standard credit card depending on consumers’ preferences and credit score. The cash-back rewards from HomeCard range from 1% to 25% for online and in-store spending as well as access to thousands in special savings on mortgages, insurance, real estate services, moving services, phone services, cable and Internet and can be linked to FDIC-protected savings accounts. For more information visit: “”:

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