CHARGING THE PROMENADES; PNC BANK LAUNCHES MALL V.I.P. VISA CARD.Byline: Deborah Adamson / Daily News Staff Writer If you're not one already, PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress Bank Corp. hopes to make a mall rat mall rat n. Slang A person, especially a teenager or young adult, who frequently passes time wandering through shopping malls. out of you. Starting this month, the Pittsburgh-based financial institution is launching the Mall V.I.P. Visa card. Two percent of purchases at 350 participating malls nationwide and 1 percent of all other buys will be returned to the shopper in the form of mall ``dollars,'' which can be used at shops or restaurants. On a classic card, the maximum reward is $500 a year. It's $750 for gold. ``Over the past year, we were probably the fastest growing credit card issuer,'' said Jonathan Williams, spokesman for PNC. ``We are in the process of trying to expand further still.'' An additional 150 malls nationally are expected to join by year-end. Malls will set up booths for those interested in applying for the card. Each shopping center sets its own date for starting the program. The card carries a 6.9 percent annual percentage rate, which will be fixed for six months. Afterward, it becomes an adjustable rate Adjustable rate Applies mainly to convertible securities. Refers to interest rate or dividend that is adjusted periodically, usually according to a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bonds or notes. based on the London Inter Bank Offered Rate, or LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). , plus 10.43 percent. APR APR See: Annual Percentage Rate is currently 16.06 percent. SHOPPING FOR REBATE Among the 350 malls nationwide participating in the new Mall V.I.P. Visa program unveiled by PNC Bank Corp. on Thursday are these Southland shopping centers: Topanga Plaza, Canoga Park Fallbrook Mall, West Hills The Promenade, Woodland Hills The Oaks shopping center, Thousand Oaks Fox Hills Mall, Culver City Plaza Pasadena, Pasadena Santa Monica Place Santa Monica Place is a three-story, 570,000 square-foot shopping mall in Santa Monica, California. The mall is located at the south end of the famous Third Street Promenade, and is also two blocks from the Santa Monica Pier and the beach. , Santa Monica CAPTION(S): Box BOX: SHOPPING FOR REBATE (see text) |
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