Reward Enterprises' Consumer's Choice Unit Adds MasterCard Debit Card Product.HOUSTON -- Reward Enterprises Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :RWRD) announced today that its Consumer's Choice 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. unit has entered into a joint venture with US Debit Corporation of Grand Prairie, Texas This article is about the city in Texas. For the city in Alberta, Canada, see Grande Prairie, Alberta. Grand Prairie is a city in Dallas County (USA), with a significant overlap into Tarrant County, and a minor overlap into Ellis County. , to distribute MasterCard debit cards debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. to Consumer's Choice customers. The agreement calls for Consumer's Choice to purchase up to 250,000 debit cards over a two-year period. The cards will be co-branded with US Debit Corporation and the MyBankCard MasterCard products. Retail price on the card to consumers is projected at $29.99 per card with a monthly fee of $4.99. The revenue projections based on distribution of 35% of the cards in 2005 and 65% in 2006 are $4,370,625 in 2005 and $14,979,750 in 2006. Projected net margins after costs of goods sold on the program are approximately 35%. The program will be ready to roll out in the first quarter of 2005. Jeff Fisher Jeffrey Michael Fisher (born February 25, 1958) is an American football head coach, currently the head coach of the Tennessee Titans of the National Football League. With the resignation of Pittsburgh's Bill Cowher[1], Fisher now has the longest tenure as head coach with , C.E.O. of Consumer's Choice Financial Services, said today, "the debit card is an important cornerstone for our financial services products. Often a MasterCard debit card is the first step for a consumer who has marginal credit scores toward re-establishing a relationship with the financial services/banking system. Used as a building block, the debit card can help these consumers link up and gain trust in a financial services institution which can offer them more opportunities in the future and better rates and terms for credit cards, auto loans and mortgages." Consumer's Choice is a start-up consumer financial services company with operations in consumer debt-acquisition and many areas of sub-prime consumer lending Consumer lending or consumer loans refers to any type of loan product that is not a mortgage; such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of credit, recreational vehicle, or Certificate of Deposit loans. . Based in Houston, Consumer's Choice has an aggressive growth and expansion plan that includes a bank charter for issuing credit cards to targeted sub-prime consumers. For further information now on Consumer's Choice Financial Services Inc. please visit their Web site at www.consumerschoicefinancialservices.com. FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : Statements about the company's future expectations, including revenues and earnings and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Capital Securities Act of 1933, section 21E of the Securities Exchange act of 1934, and as the term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. The Company's actual results could differ materially from expected results. The company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release, the company will appropriately inform the public. |
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