Business Debit Miles (8/4/99)
FULL STORY:
Business cardholders can now earn air miles without the hassle of credit
cards. The first co-branded debit card for small business was unleashed this week by
Chase Manhattan and Continental Airlines. The new 'Chase/Continental Business
Banking MasterCard' offers one 'Continental OnePass' mile for every dollar
spent on purchases. New small business debit card customers will earn 1,000
bonus miles upon sign-up, and additional bonus miles each year upon renewal of
the card. Miles earned accrue to a cardholder's individual 'OnePass' account.
The card carries a $65 annual fee. In late February, Chase introduced a
consumer version of the co-branded debit card. Under the consumer program
cardholders earn one 'Continental OnePass' mile for every two dollars spent on
purchases. The annual fee for the consumer 'Chase/Continental Banking
MasterCard' is $30. Both versions build on the Continental co-branded credit
card which was re-launched by Chase in March, 1998. One key advantage of the
Continental 'OnePass' program is that mileage does not expire. Earlier this
summer, Citibank rolled out a business version of its American Airlines
co-branded credit card program which offers small business owners the ability
to accrue and consolidate air miles from up to nine employee cardholders.
Citibank is charging a $75 annual fee for the primary cardholder and $25 per
year for each additional card. Small business customers can obtain the card by
visiting any Chase branch or by calling 1-800-Chase24.