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U.S. Bank Introduces Ace Rewards(R) Visa(R) Application for iPhone(R)

MINNEAPOLIS & OAK BROOK, Ill., Apr 10, 2012 (BUSINESS WIRE) --Ace Hardware customers can now conveniently apply for an Ace Rewards(R) Visa(R) Credit Card with an iPhone(R) application developed by U.S. Bank. The new Ace Rewards Visa App, downloadable at the iTunes store, gives customers the opportunity to apply for and receive, upon approval, immediate credit to start their shopping at participating Ace stores.

"The Ace Rewards Visa App for iPhone is a great example of how we continue to provide our customers with innovative payment solutions that will enhance their shopping experience," said John Owens, senior vice president of U.S. Bank Retail Payment Solutions. "The new App offers Ace customers the opportunity to receive instant access to credit so they can shop for products they need to complete their home maintenance projects as well as get rewarded for their Ace purchases."

With the Ace Rewards Visa App, customers can easily apply for an Ace Rewards Visa Credit Card. Upon instant approval, qualified new cardholders receive a secure, virtual credit card via their iPhone. When the cardholders are ready to make a purchase, they simply hand their iPhone with the virtual card displayed to an Ace Associate at checkout.

With every purchase, Ace Rewards Visa cardholders earn Ace Rewards points, receiving up to 5% back at Ace, 2% back on gas and groceries and 1% back everywhere else Visa is accepted. In addition, cardholders can earn up to 10% back on quarterly categories. Once 12,500 points are earned, cardholders receive a $25 Reward redeemable at participating Ace stores.

In addition to making purchases and being rewarded for it, the app features a convenient link to Ace's website, acehardware.com, to view products or find the nearest Ace Hardware store.

"We are pleased to be able to offer the Ace Rewards Visa App for iPhone to our customers," said Jeff Gooding, director of consumer marketing for Ace Hardware Corp. "This technology allows us to help our consumers manage the things they need to do so they can move on to what matters most to them. It's one more benefit of being an Ace Rewards member and shopping at Ace."

As with other U.S. Bank mobile applications, the Ace Rewards Visa App allows customers to enjoy anytime access to account management tools, such as viewing the account balance and most recent transactions as well as making a payment to the account.

U.S. Bank first introduced mobile apps for credit card approval in 2011 and plans to launch the credit card application for iPhone to other cobrand partners in the near future. Plans also include rolling out the Android version of the Ace Rewards Visa App in the third quarter of 2012.

The iPhone is a trademark of Apple Inc., registered in the United States and other countries.

About Ace Hardware
For more than 85 years, Ace Hardware has been known as the helpful hardware store in thousands of communities across America. Customers depend on Ace to help them take care of their homes quickly and easily so they can get on with their lives. With over 4,600 hardware stores locally owned and operated across the globe, Ace is the largest hardware cooperative in the industry. Headquartered in Oak Brook, Ill., Ace and its subsidiaries currently operate 14 distribution centers in the U.S and they also have distribution capabilities in Shanghai, China; Panama City, Panama; and Dubai, United Arab Emirates. Its retailers' stores are located in all 50 states and approximately 60 countries. For more information on Ace, visit www.acehardware.com.

About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $340 billion in assets as of Dec. 31, 2011, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,085 banking offices in 25 states and 5,053 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.

SOURCE: U.S. Bank

U.S. Bank Media Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com
or
Ace Hardware Corporation
Kate Kirkpatrick, Public Relations Manager, 630-990-1478
kkirk@acehardware.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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