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Credit Card Product UpdateJanuary2016– July2016MeredithBarthold
July2016
Table of Contents
▪ Background▪ NewCreditCards▪ DigitalPaymentServices▪ RemovedCards▪ ServiceOverviewandContactInformation
Background
Background
▪ Thisslidedeckexaminesnewproductreleasesfrom11creditcardcarriersintheCreditCardMonitor coveragegroupinthefirsthalfof2016
▪ Inside,wehighlightbasicfeeinformation,rewardscriteriaandspecificstandoutfeaturesuniquetoeachcardandincludeachartshowingwhatfirmsfeaturewhichdigitalpaymentservicesfortheirproductofferings
Firms Covered
▪ AmericanExpress▪ BankofAmerica▪ BarclaycardUS▪ CapitalOne▪ Chase▪ Citicards
▪ Discover▪ PNC▪ U.S.Bank▪ USAA▪ WellsFargo
New Credit Cards
Credit Card Product Releases
▪ Firmswithinthecoveragegrouplaunchedatotalof14 newcardsinthefirsthalfof2016thatarecurrentlypromotedonline-Oneisare-release,twowerepreviouslyissuedbyAmericanExpressandthreewerepreviouslyintheMasterCardnetwork
-Allcardsinthisslidedeckhaveafocusonrewards,witheachcreditcardproductreleasedinQ1andQ2providinguserstheabilitytoearnpoints,milesandcashback
Barclaycard USJetBlue World MasterCard
▪ 3pointsper$1onJetBluepurchases▪ 2pointsper$1atrestaurantsandgrocerystores▪ 1pointper$1onallotherpurchases▪ 0%APRonbalancetransfersfor12months▪ 12.24%,20.24%or25.24%purchaseandbalancetransferAPRthereafter▪ Noannualfee▪ 5,000bonuspointsafterspending$1,000infirst90days
▪ Standoutfeature:acceleratedJetBlueandrestaurantandgrocerystoreearnings▪ Introduced:April2016(previouslyavailablefromAmericanExpress);ratesandfeesasofJuly2016
ChaseAARP Credit Card from Chase
▪ 3%cashbackatrestaurantsandgasstations▪ 1%cashbackonallotherpurchases▪ 0%APRonpurchasesandbalancetransfersfor12months▪ 16.49%purchaseandbalancetransferAPRthereafter▪ Noannualfee▪ $100cashbackbonusafterspending$500infirstthreemonths
▪ Standoutfeature:restaurantandgasstationearnings▪ Introduced:April2016;ratesandfeesasofJuly2016
ChaseChase Freedom Unlimited Card
▪ 1.5%cashbackonallpurchases▪ 0%APRonpurchasesandbalancetransfersfor15months▪ 14.24%,19.24%or23.24%purchaseandbalancetransferAPRthereafter▪ Noannualfee▪ $150cashbackbonusafterspending$500inthefirstthreemonths▪ $25cashbackbonusafteraddinganauthorizeduserandmakingapurchaseinthefirstthreemonths
▪ Standoutfeature:1.5%cashbackonallpurchases▪ Introduced:April2016;ratesandfeesasofJuly2016
CiticardsCostco Anywhere Visa Card by Citi
▪ 4%cashbackongasandCostcogas(upto$7,000/year;then1%)▪ 3%cashbackontravelandatrestaurants▪ 2%cashbackatCostco▪ 1%cashbackonallotherpurchases▪ 0%APRonpurchasesforsevenmonths▪ 15.49%purchaseandbalancetransferAPRthereafter▪ Noannualfee(withpaidCostcomembership)
▪ Standoutfeature:4%cashbackongas▪ Introduced:June2016(previouslyofferedbyAmericanExpress);ratesandfeesasofJuly2016
DiscoverDiscover it Chrome Card
▪ 2%cashbackongasandatrestaurants(upto$1,000/quarter)▪ 1%cashbackonallotherpurchases▪ 0%APRonpurchasesandbalancetransfersfor12months▪ 11.24%- 23.24%purchaseandbalancetransferAPRthereafter▪ Noannualfee▪ Cashbackearnedthroughthefirstyearisdoubled
▪ Standoutfeature:cashbackearnedthroughthefirstyearisdoubled▪ Re-released:January2016;ratesandfeesasofJuly2016
DiscoverDiscover it for Students Card
▪ 5%cashbackonrotatingquarterlycategories(upto$1,500)▪ 1%cashbackonallotherpurchases▪ 0%APRonpurchasesforsixmonths▪ 10.99%APRonbalancetransfersforsixmonths▪ 13.24%- 22.24%purchaseandbalancetransferAPRthereafter▪ Noannualfee▪ $20cashbackeachschoolyearwithaGPAof3.0orhigherforuptofiveyears▪ Cashbackearnedthroughthefirstyearisdoubled
▪ Standoutfeature:cashbackrewardsforgoodgrades▪ Introduced:January2016;ratesandfeesasofJuly2016
PNC BankPNC Premier Traveler Visa Signature
▪ 2milesper$1onallpurchases▪ 0%APRonbalancetransfersfor12months▪ 16.24%purchaseandbalancetransferAPRthereafter▪ $85annualfee(waivedforfirstyear)▪ Noforeigntransactionfees▪ 30,000bonusmilesafterspending$3,000infirstthreemonths
▪ Standoutfeature:noforeigntransactionfees▪ Introduced:May2016;ratesandfeesasofJuly2016
U.S. BankCash 365 American Express Card
▪ 1.5%cashbackonallpurchases▪ 0%APRonbalancetransfersfor12months▪ 13.24%- 23.24%purchaseandbalancetransferAPRthereafter▪ Noannualfee▪ $100customerrelationshipbonustocardholderswithexistingU.S.Bankrelationshipsthatspend$500infirst90days
▪ Standoutfeature:1.5%cashbackonallpurchases▪ Introduced:June2016;ratesandfeesasofJuly2016
U.S. BankFlexPerks Gold American Express Card
▪ 3pointsper$1atrestaurants▪ 2pointsper$1atgasstationsandairlines▪ 1pointper$1onallotherpurchases▪ 14.24%- 24.24%purchaseandbalancetransferAPR▪ $85annualfee▪ Noforeigntransactionfees▪ 30,000bonuspointsafterspending$2,000infirstfourmonths▪ StatementcreditreimbursementforTSAPreCheck orGlobalEntryprograms
▪ Standoutfeature:acceleratedearningsatrestaurants,gasstationsandairlines▪ Introduced:June2016;ratesandfeesasofJuly2016
USAACash Rewards Visa Signature
▪ 1.25%cashbackonallpurchases▪ 10.15%- 26.15%purchaseandbalancetransferAPR▪ Noannualfee▪ Noforeigntransactionfees
▪ Standoutfeature:noforeigntransactionfees▪ Re-IssuedasaVisaSignatureProduct:February2016;ratesandfeesasofJuly2016
USAAPreferred Cash Rewards Visa Signature
▪ 1.5%cashbackonallpurchases▪ 12.15%- 26.15%purchaseandbalancetransferAPR▪ Noannualfee▪ Noforeigntransactionfees
▪ Standoutfeature:1.5%cashbackonallpurchases▪ Re-IssuedasaVisaSignatureProduct:February2016;ratesandfeesasofJuly2016
USAARewards Visa Signature
▪ 1pointper$1onallpurchases▪ 10.15%- 26.15%purchaseandbalancetransferAPR▪ Noannualfee▪ Noforeigntransactionfees▪ 2,500bonuspointsafterfirstpurchase
▪ Standoutfeature:noforeigntransactionfees▪ Re-IssuedasaVisaSignatureProduct:February2016;ratesandfeesasofJuly2016
Wells FargoWells Fargo Cash Wise Visa Card
▪ 1.5%cashbackonallpurchases▪ 0%APRonpurchasesandbalancetransfersfor15months▪ 13.24%- 25.24%purchaseandbalancetransferAPRthereafter▪ Noannualfee▪ 1.8%cashbackonpurchasesmadewithAndroidPayorApplePayinfirst12months
▪ Standoutfeature:acceleratedearningsfrompurchasesmadewithdigitalwalletsforfirstyear
▪ Introduced:June2016;ratesandfeesasofJuly2016
Wells FargoWells Fargo Propel American Express Card
▪ 3pointsper$1atgasstations▪ 2pointsper$1atrestaurants▪ 1pointper$1onallotherpurchases▪ 0%APRonpurchasesandbalancetransfersfor15months▪ 13.24%- 25.24%purchaseandbalancetransferAPRthereafter▪ Noannualfee▪ 10%pointbonuseachyearwithaWellsFargocheckingorsavingsaccount
▪ Standoutfeature:acceleratedearningsatgasstationsandrestaurants▪ Introduced:December2015;ratesandfeesasofJuly2016
Digital Payment Services
Mobile Wallet Summary
Firm Android Pay ApplePay Samsung PayAmerican Express Yes Yes YesBankofAmerica Yes Yes YesBarclaycardUS No Yes NoCapitalOne ComingSoon Yes NoChase No Yes YesCiticards Yes Yes YesDiscover Yes Yes YesPNC Yes Yes YesU.S.Bank Yes Yes YesUSAA Yes Yes NoWellsFargo Yes Yes Yes
Removed Cards
Removed Cards Summary
Firm CardsBankofAmerica AlaskaAirlinesPreferredVisaCardCiticards AT&TAccessCard
AT&TAccessMore CardU.S.Bank LifeMiles VisaCard
LifeMiles VisaSignatureCardUSAA CashRewardsVisaCard
Classic PlatinumMasterCardRateAdvantagePlatinumMasterCardUSAARewards VisaCard
WellsFargo CashBackVisaCardCashBackVisaSignatureCardPropel WorldAmericanExpressCard
Barclaycard US – A Firm in Transition
▪ Thoughcustomerscannotcurrentlyapplyforthemonline,thefirmpromotesthefollowingcardsonthepublicsite:BarclaycardArrivalWorldMasterCard,BarclaycardArrivalPlusWorldMasterCardandBarclaycardRingMasterCard
▪ Thefirmdoesnotpromotethefollowingcardsonthepublicsite,thoughtheystillexist:BarclaycardVisawithAppleRewards,FrontierAirlinesWorldMasterCard,Miles&MoreWorldEliteMasterCardandWilliams-SonomaVisaSignature
Service Overview and Contact Information
Credit Card Monitor
▪ CreditCardMonitorwaslaunchedin2001andfocusesontheonlineuserexperiencethatleadingcreditcardissuersprovidecardholdersandprospects
▪ Usingactualaccounts,CreditCardMonitor givesafirsthandlookatcurrentonlinecapabilities,includingclientaccountinformation,transactionresources,interactivetools,customerserviceandaccountdocuments
▪ CreditCardMonitor followsthecardproductsandservicesofferedbycompetitorsacrossthecreditcardindustry,providinganup-closeviewofwhatotherfirmsaredoingtoattractnewclients
