BENEFICIAL NATIONAL BANK USA AND BJ'S WHOLESALE CLUB LAUNCH FIRST CO-BRANDED CREDIT CARD.WILMINGTON, Del.--(BUSINESS WIRE)--Aug. 15, 1995--Beneficial National Bank USA (BNB BNB Bed 'n Breakfast BNB Banco do Nordeste do Brasil (Brazil) BNB Banque Nationale de Belgique BNB Bulgarian National Bank BNB British National Bibliography BNB Bad News Bears (movie) USA) today unveiled its first co-branded credit card, issuing the BJ's MasterCard that also marks a first for the wholesale club industry. "The debut of BNB USA's co-branding program demonstrates our commitment to providing unique and customized products," said Ross Longfield, president and chief executive officer of Beneficial National Bank USA. "We will provide expanded services to our clients through the MasterCard co-branding program. In turn, our clients can reward their customers for credit purchases." Among those rewards, consumers who use the BJ's MasterCard can earn money toward their next BJ's purchase in the form of BJ's BUCKS. Cardholders will receive an introductory bonus offer of no payment, no interest on purchases made through January 31, 1996. The introductory offer also includes a rebate of 4 percent on BJ's MasterCard purchases and 1 percent on all other purchases through January 31, 1996. Following that period, customers will earn 2 percent back on BJ's purchases and 1 percent back on purchases at the more than 13 million places MasterCard is accepted worldwide. "We are thrilled to be the first wholesale club to introduce a co-branded card. This is an incredible value for our members because of the convenience and reward program," said Jack Nugent, president of BJ's Wholesale Club BJ's Wholesale Club, Inc. NYSE: BJ is a membership-only warehouse club chain operating in the East Coast of the United States, as well as in the state of Ohio. History . "The card can be used like cash to purchase a wide-range of BJ's food and merchandise -- from steaks to tires to a personal computer. And with each BJ's MasterCard purchase, the BJ's member receives a percentage back toward their next BJ's purchase." In addition to earning BJ's BUCKS, BJ's MasterCard offers customers several other advantages: no annual fee, a 25-day grace period on all purchases, and instant cash access at over 180,000 ATMs worldwide. BNB USA enters the co-brand market offering a unique combination of card-reward programs, special financing and interest-free promotions. Reward programs are customized to encourage and maximize consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. . "The co-branded market will assist us in continuing solid growth to better serve our customers," added Longfield. "Co-branding is a natural extension of our business, because of our history and experience of becoming a partner with retailers." BJ's Wholesale Club operates 65 wholesale clubs in 12 eastern states Eastern States can refer to several locations:
See: New York Stock Exchange :WBN), BJ's had sales of approximately $2.3 billion in 1994 (a 14.5 percent increase over 1993 sales.) MasterCard International Incorporated, a global payments franchise company with offices in 20 countries, comprises more than 22,000 member financial institutions worldwide. Through its family of brands, MasterCard, Maestro and Cirrus, MasterCard offers a full range of credit and debit products and services supported by a global transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. network. With more than $1.7 billion in total receivables, Beneficial National Bank USA is one of the nation's fastest-growing credit card banks. Beneficial National Bank USA is a subsidiary of Beneficial Corporation a $14 billion, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Stock Exchange-listed financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. holding company. Subsidiaries of the Company provide financial services through their various consumer-finance, banking and insurance operations located throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, the United Kingdom and Germany. The Beneficial finance system includes more than 1,000 offices offering products and services that meet a broad range of consumer credit needs, including credit-related insurance. CONTACT: Beneficial National Bank Robert Wade Robert Wade or Bob Wade is the name of several notable individuals:
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