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AMERICAN EXPRESS INTRODUCES NEW ADVERTISING CAMPAIGN FOR THE OPTIMA CARD; ADS PROMOTE USAGE CARD BY HIGHLIGHTING ITS LOW INTEREST RATES

AMERICAN EXPRESS INTRODUCES NEW ADVERTISING CAMPAIGN FOR THE OPTIMA CARD; ADS PROMOTE USAGE CARD BY HIGHLIGHTING ITS LOW INTEREST RATES
 NEW YORK, Oct. 28 /PRNewswire/ -- American Express Centurion Bank -- the first major credit card issuer to introduce "performance-based" interest rates -- announced that it will introduce a new print advertising campaign to promote usage of the Optima Card. The new ads encourage American Express(R) Cardmembers to use the Optima Card by highlighting the Optima Card's highly attractive "performance-based" interest rates and the company's commitment to providing superior customer service.
 Carrying the tagline "You Know What You're Doing(SM)," the new ads portray Optima Cardmembers, who are financially responsible individuals who know how to take advantage of the Optima Card's low interest rates. The advertising focuses on Optima Cardmembers' lifestyles and confidence, and illustrates their personal and financial accomplishments. The advantages of carrying and using the Optima Card are clearly reflected throughout the campaign.
 The ads will first appear in the Nov. 9 issues of Newsweek, New York Magazine and Sports Illustrated, and continue through 1993 in various general interest, sports, fashion and home design publications.
 Wunderman Cato Johnson developed the new print advertisements for the Optima Card.
 Frank Skillern, president of American Express Centurion Bank, said, "Our new ads portray Optima Cardmembers, who are financially responsible people who know when to revolve their charges. Optima Cardmembers enjoy some of the lowest rates in the marketplace. These ads clearly communicate the Optima Card's performance-based pricing structure, which has been enthusiastically received by our Cardmembers. Many of our Cardmembers think a low interest rate is the best reward they can earn from a credit card."
 The Optima Card's performance-based pricing structure is as follows:
 -- 12 percent on purchases for Cardmembers who have at least one year's tenure with the Optima Card and American Express Card, spend at least $1,000 on the Optima Card, and have made no late payments during the last 12 consecutive months on their American Express Charge Card accounts.
 -- 14.25 percent on purchases for new Cardmembers and those who have been in good standing for the last 12 consecutive months on both their Optima and American Express Card accounts, but do not meet the spending or one-year tenure requirements.
 -- 18.25 percent on purchases for Cardmembers whose Optima or American Express Card accounts have not been in good standing during the last 12 months.
 -- The interest rates on cash withdrawals for each of these groups are currently 16.9 percent, 16.9 percent and 18.9 percent, respectively.
 All of the rates on the Optima Card are variable. Rates for purchases and cash withdrawals are subject to change semi-annually, on the first day in April and October. The rates are based on the Prime Rate, as published in The Wall Street Journal on the last business day of January and July.
 The advertised rates are effective for billing periods ending through March 31, 1993. Cardmembers can qualify for a new rate category twice per year, based on their payment behavior, tenure and spending. All accounts are reviewed automatically, and interest rates are adjusted accordingly.
 The annual fee for the Optima Card is $15 for Personal and Gold Cardmembers, and complimentary to Platinum Card(R) members.
 The Optima Card is issued by American Express Centurion Bank, a wholly owned subsidiary of American Express Travel Related Services Company, Inc. (TRS). TRS, in turn, is a family of travel, financial and communications businesses, and a wholly owned subsidiary of American Express Company (NYSE: AXP).
 -0- 10/28/92
 /CONTACT: Marcos E. Rada of American Express, 212-640-2566/
 (AXP) CO: American Express Centurio Bank; American Express Company ST: New York IN: FIN SU:


CK-KW -- NY052 -- 5953 10/28/92 11:39 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 28, 1992
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