MINNEAPOLIS, Nov 21, 2002 (BUSINESS WIRE) -- U.S. Bank is taking its exclusive
Checking That Pays program one step further and introducing the U.S. Bank Cash
Rewards Visa Credit Card, which offers customers a cash rebate of up to one
percent on purchases made with the card. Since many people use their credit card
for major purchases - such as furniture or travel - the rebate can add up
"Customers can earn rewards everyday when they use the U.S. Bank Cash Rewards
Visa Credit Card," said Patricia Wesner, executive vice president of U.S. Bank
Retail Payment Solutions. "The success of our other rewards programs and
Checking That Pays told us that customers would surely enjoy earning a rebate on
purchases that they would traditionally make with a credit card. There are no
points to track and the rebate check is sent to the customer automatically,
which makes participation easy."
Just like Checking That Pays, the U.S. Bank Cash Rewards Visa Credit Card rebate
is tiered so customers earn a .25 percent rebate on the first $1,000 spent, .50
percent on the next $1,000, .75 percent on the next $1,000 and a full one
percent on the balance. For instance, someone who spends $810 a year on gas,
$7,300 on groceries, $1,350 on clothes, $530 on entertainment, $3,400 on
vacation and $1,400 on auto repairs totaling $14,790 would receive a rebate of
$132.90. Customers can earn up to $350 in rebates.
U.S. Bank Cash Rewards Visa Credit Card customers will receive an introductory,
low-interest rate on all purchases made in the first six months, and there is no
annual fee as long as one purchase is made with the card each year. The card
offers all the benefits of standard U.S. Bank Visa cards, including acceptance
at 25 million ATM and merchant locations that accept Visa worldwide, rental car
discounts, liability protection and 24-hour customer service. In addition, U.S.
Bank participates in Verified by Visa, which extends password protection to
purchases made on the Internet at participating merchants.
Customers can pick up a Cash Rewards application at any U.S. Bank branch, on the
Internet at usbank.com, or they can apply by phone at 1-888-777-4444, option
U.S. Bancorp, with assets in excess of $174 billion, is the 8th largest
financial services holding company in the United States. The company operates
2,133 banking offices and 4,680 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 is home of the
Five Star Service Guarantee which assures customers of certain key banking
benefits and services or customers will be paid for their inconvenience. U.S.
Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at
CONTACT: U.S. Bank
Teri Charest, 612/303-0732
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SOURCE: U.S. Bank