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SOUTH CAROLINA NATIONAL ANNOUNCES NEW CREDIT CARD PRICING OPTION

 COLUMBIA, S.C., May 3 /PRNewswire/ -- South Carolina National Bank has announced a new credit card pricing option that currently carries one of the lowest credit card interest rates available in the country.
 The "Prime Plus" 2.9 percent option -- a current annual percentage rate of 8.9 percent based on a prime rate of 6 percent plus 2.9 percent -- is available on Visa and MasterCard regular and gold credit cards issued through South Carolina National. The regular card annual fee for the "Prime Plus" 2.9 percent option is $39 and the Gold card fee is $49.
 "We think the Prime Plus option will appeal to consumers looking for a low-interest rate credit card issued through a bank they know," said Anthony L. Furr, president and chief executive officer of South Carolina National Bank. "In particular, we believe that consumers who regularly carry a balance on their credit card account will be interested because they may be able to save significantly on finance charges with the Prime Plus option."
 Existing SCN credit card customers are being notified by mail of changes in credit card pricing. Current and new customers can choose the option that is right for them, Furr said. Customers may choose Prime Plus or Prime Plus Gold, in addition to two other credit card rate/fee options that offer competitive interest rates and pricing: 14.98 percent fixed with a $25 annual fee ($35 fee for Gold card), or Prime Plus 9.9 percent (15.9 percent) with no annual fee if the card is used at least once a year.
 The Prime Plus interest rate will be 2.9 percent plus the prime rate as published in the Wall Street Journal on the 15th day of the month.
 The Prime Plus credit card is offered by SCN Bank Card Services, Wilmington, Del., through South Carolina National Bank. Both companies are subsidiaries of Wachovia Corporation (NYSE: WB).
 -0- 5/3/93
 /CONTACT: Linda K. Logan, South Carolina National Bank, 803-765-3369/
 (WB)


CO: South Carolina National Bank; Wachovia Corporation ST: South Carolina IN: FIN SU: PDT

MM -- CH001 -- 3659 05/03/93 10:04 EDT
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Publication:PR Newswire
Date:May 3, 1993
Words:358
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