Dean Witter, Discover & Company introduced this month the BRAVO Card, a general purpose card designed for consumers who tend to carry balances on their credit cards. The new card’s features include zero interest on purchases until February 1996, two cred it lines with different interest rates, over-limit protection and no annual fee.
The BRAVO Card’s primary credit line, called the “Active Line”, is accessed by the card and charges zero interest for all purchases and an annual percentage rate of 4.9% for all balance transfers until February 1996, when an APR of prime rate plus 8.9% w ill go into effect. Additionally, after March 1996, cardmembers will have a separate, second line of credit, called the “Reserve Line”. With an APR of prime plus 5.9%, three points lower than the standard rate for purchases on the Active Line, the Reserve line is for purchases of $250 or more. The Reserve Line will be accessed by special checks and there is no fee for using the checks.
