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Debit Rewards (3/30/01)
FULL STORY:
Incentives to use VISA and MasterCard debit cards are getting sweeter. U.S.
Bank and Northwest Airlines launched a VISA Check Card this week that offers
airmiles for purchases. Two years ago Chase Manhattan introduced the first
co-branded debit card and the first debit card to offer air mileage rewards
from a major carrier. The new WorldPerks VISA Check Card offers one Northwest
Airlines mile for every $2 spent. However, the new U.S. Bank/NWA debit card
carries a $20 annual fee. Customers who open a new U.S. Bank checking account
will receive a one-time award of 4,000 bonus miles. Account holders may
have up
to four cards per account. Miles are not earned on ATM transactions, checks,
balance transfers or purchases made with a PIN number. The new VISA Check Card
also offers ATM access for up to five checking accounts, five savings
accounts, and five credit card or credit line accounts. Under the program,
customers who earn 20,000 miles may receive a free round trip ticket during
the
off-peak season anywhere in the continental USA, including Alaska. At 25,000
miles, customers earn a free round trip ticket peak season anywhere in the
continental USA including Alaska. U.S. Bank also offers two credit card
versions of the program including the WorldPerks VISA Card and the WorldPerks
VISA Business Card. Chase Manhattan teamed with Continental Airlines in
1999 to
offer the Chase/Continental MasterCard Banking Card which offers one air mile
for each $2 charged. The Chase/Continental debit card carries a $30 annual fee
and offers bonus miles upon sign-up and additional bonus miles each year upon
renewal of the card. Last year Chase introduced Gold and Platinum versions of
their Continental MasterCard debit cards. The Platinum version of the debit
card offers one air mile for each dollar of debit card purchases. For more
information on the Northwest Airlines VISA Check Card visit
www.usbank.com. for more information on the Chase Continental MasterCard banking Card visit
www.chase.com.
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