A new VISA card has been launched that rewards cardholders for carrying a balance, paying on-time, and enables its customers to use points to lower their interest rate. The new “Providian Real Rewards VISA” also offers a free personal online spending profile that shows the cardholder’s “FICO” score. Under the “Real Rewards” program, cardholders earn one point for each $1 in purchase volume, 10 points for every $100 in revolving balances per billing cycle, and 500 points for paying on timer for six consecutive billing cycles. To kick-off the program, Providian is offering double reward points until August 2004. The points have an estimated redemption value of one cent each. The card carries no annual fee and a prime +9.74% APR with a 13.99% floor rate. In December, Providian launched the “School Rewards VISA Platinum” offering a 1% cash reward to schools (K-12) based on charge volume. For more information visit www.providian.com or www.getmyvisa.com.