Bank of America pilots new travel card.SAN DIEGO--(BUSINESS WIRE)--Dec. 19, 1996--Bank of America Thursday announced a new VISA credit card that offers a variety of free travel rewards, including airline tickets, hotel accommodations, vacation packages, cruises, weekend getaways and car rentals. Called Travel Choices, the new card enables cardholders to earn one point for every dollar in purchases charged, including points for balances transferred from other cards. ``We designed the new Travel Choices VISA card to provide customers with a wide range of travel benefits and choices,'' said Stephen B. Galasso, president and chief executive officer of the bank's credit card subsidiary, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. NA. ``With travel rewards that start as low as 4,000 points, our customers will be able to take advantage of more affordable vacations.'' Bank of America is introducing the new Travel Choices card on a limited basis through applications in Oregon, Nevada and San Diego, with plans to expand the card to other markets beginning next year. The bank is also testing the card through direct-mail solicitations. For as little as 4,000 points, cardholders earn a free one-day car rental from Hertz or Alamo Rent A Car Alamo Rent A Car is a car rental agency. It is based in Tulsa, Oklahoma, but has branches across the United States, Canada, Mexico, Central America, South America, parts of Africa, Europe, and Australia as well as some locations on various Caribbean islands. . Rewards for free hotel stays range from 5,000 points for one night at Marriott Fairfield Inns to 10,000 points for free weekend nights at Marriott Hotels and Resorts, Courtyard by Marriott Courtyard by Marriott is a brand of hotels owned by Marriott International. They have over 2,800 hotels worldwide, as of June 2007. Courtyard by Marriott is designed for business travelers. or Residence Inns. Airline rewards range from 25,000 points for a free ticket on flights within the continental United States United States territory, including the adjacent territorial waters, located within North America between Canada and Mexico. Also called CONUS. to 50,000 points for a free ticket to Europe. All airline travel is booked on major U.S. airlines. At 5,000 points, cardholders can earn a free cruise for any third or fourth person on Royal Caribbean Cruise Line or up to two children free with two paying adults on Carnival Cruise Lines This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. . Accumulating 40,000 points earns a free three-night cruise for two on Carnival Cruise Lines, Norwegian Cruise Line Norwegian Cruise Line (NCL) is a company operating cruise ships, headquartered in Miami, Florida. It is most well known for its Freestyle Cruising, which means that there are no set times or seating arrangements for meals, nor is formal attire required. or Royal Caribbean Cruise Line. Cardholders can earn up to a maximum of 60,000 points annually and simply call a toll-free number to redeem rewards. In addition, cardholders receive $150,000 of free travel accident insurance. The introductory rate on the new Travel Choices card is a fixed rate of 9.9 percent APR APR See: Annual Percentage Rate for the first six months from the date the account is opened, after which the rate is adjusted quarterly based on the Wall Street Journal prime rate
The Wall Street Journal Prime Rate (WSJ Prime Rate) is defined by The Wall Street Journal (WSJ) as "The base rate on corporate loans posted by at least plus 9.99 percentage points. The annual fee for the card is $25. Consumers may call 800/349-BofA (800/349-2632) to receive or complete an application for the Travel Choices card. CONTACT: Bank of America Lisa Margolin-Feher, 619/549-7405 Betty Riess, 415/622-6397 |
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