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NBD REVAMPS CREDIT CARDS; LOWERS RATE, ANNUAL FEE ON MOST POPULAR CARD; ELIMINATES ANNUAL FEES ON OTHERS

NBD REVAMPS CREDIT CARDS; LOWERS RATE, ANNUAL FEE ON MOST POPULAR CARD;
 ELIMINATES ANNUAL FEES ON OTHERS
 DETROIT, March 2 /PRNewswire/ -- NBD Bancorp (NYSE: NBD) today announced changes in the credit cards offered through the offices of its subsidiary banks in Michigan, Illinois, Indiana, Ohio and Florida. NBD is lowering the interest rate and annual fee on its most popular card and eliminating annual fees on all others.
 "In response to the demands of our customers for less costly credit, we have taken a fresh look at all of our credit cards," said Craig W. Schopf, first vice president and head of NBD's Consumer Lending Services Division. "Beginning today, NBD will offer some of the most competitive credit cards in the Midwest."
 NBD is lowering the interest rate on its most popular fixed-rate standard card to 16.8 percent from 18 percent. The annual fee on this card will also be lowered to $15 from $18. On its other credit cards, including fixed- and variable-rate gold and standard cards, the bank is eliminating annual fees. NBD cardholders will also benefit as the bank lowers the minimum payment on its cards to 3 percent of the outstanding balance, rather than the previous 5 percent.
 An announcement of the changes was mailed to cardholders on Feb. 29, 1992. Cardholders will automatically be converted to the new card most comparable to their current card. They can also elect to switch to one of the other card options within their current standard or gold card category.
 The changes will affect NBD's standard card customers in Michigan, Illinois, Indiana, Ohio and Florida, and its gold card customers in Michigan and Illinois. Later in 1992, the changes will be made for gold cardholders in Indiana, Ohio and Florida.
 The following chart illustrates NBD's revamped credit cards:
 NBD BANCORP CREDIT CARDS
 Effective March 1992.
 Annual Percentage Rate
 Product Annual Fee (APR) for Purchases
 Gold Card, Fixed Rate $0 16.8 pct. Fixed Rate
 Gold Card, Variable Rate $0 12.93 pct. Variable Rate*
 Standard Card, Variable Rate $0 14.93 pct. Variable Rate*
 Standard Card, Fixed Rate $0 17.9 pct. Fixed Rate
 Standard Card, Fixed Rate $15 16.8 pct. Fixed Rate
 -- Based on six-month Treasury Bill Rates.
 The APR for cash advances is 12.93 percent variable rate for all products. In addition, all NBD credit cards have a 25-day grace period. This means all cardholders who pay their balance in full by the due date will not be charged any interest on purchases.
 -0- 3/2/92 R
 /NOTE: ILLINOIS EDITORS -- NBD Bancorp is the parent company of 20 Metropolitan Chicago Banks with total assets of $5 billion. OHIO EDITORS -- NBD Bancorp is the parent company of NBD Bank with 21 branches in Columbus and Dayton, Ohio. INDIANA EDITORS -- NBD Bancorp is the parent company of Midwest Commerce Banking Company of Elkhart, Ind., and Gainer Bank of Merrillville, Ind. NBD also has a pending merger agreement with Summcorp, a $2.5 billion bank holding company based in Fort Wayne, Ind. FLORIDA EDITORS -- NBD Bancorp is the parent company of NBD Trust Company of Florida in North Palm Beach, Sarasota and Naples, and NBD FSB in Venice.
 CONTACT: M. Renee Ahee, 313-225-2596, or Russell J. Canning, 313-225-2899, both of NBD Bancorp/
 (NBD) CO: NBD Bancorp, Inc. ST: Michigan IN: FIN SU: PDT


ML -- DE011R -- 4391 03/03/92 10:11 EST
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Date:Mar 3, 1992
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