Credit ScoreTracker Introduced
RIVERWOODS, Ill.–Discover Financial Services and Experian Consumer Direct’s Experian Interactive have launched Credit ScoreTracker, a comprehensive credit score tracking product offering Discover Card holders resources that help them understand and monitor their credit score.
“Unlike most credit-related products that are bundled with additional offerings, Credit ScoreTracker is specifically designed for score monitoring, alerting card members when their score changes, allowing card members to set a target score and providing resources to help them understand the factors that may be influencing their score,” the companies said.
Credit ScoreTracker allows Discover Card members to receive their Experian credit report and credit score with notification of key changes to their credit score and credit risk level. They also can view a tracking graph that shows how their score has trended over time.
In addition, card members can take advantage of resources including articles and an interactive survey and quiz designed to provide valuable information that can be used to help them make better financial decisions, according to Discover.
Discover said it has also made it easy to enroll and access Credit ScoreTracker via the Internet, offering Discover Card members the ability to enroll and log in directly from Discovercard.com, shortening the enrollment process and eliminating the need for multiple user names and passwords. Credit ScoreTracker can be purchased for just $7.99 a month, delivered via the Internet or by first class mail. Discover Cardmembers can enroll at Discovercard.com/CreditScoreTracker or by phone at 1-888-201-1440, 24 hours a day, seven days a week.
Chase Enhances Rewards
WILMINGTON, Del.–Chase Card Services, a division of JPMorgan Chase & Co., has joined with Continental Airlines to offer a Continental Airlines TravelBank World MasterCard, which it says offers a new, easy and flexible way for cardmembers to earn credits toward their next flight.
Instead of OnePass miles, cardmembers earn travel credits that can be used for all or part of any flight purchased on continental.com. The earned travel credits are automatically collected in customers’ TravelBank accounts, where they can be redeemed at any time as TravelBank cash. The bank said cardmembers earn 3% for purchases made using the card on eligible cable, telecommunications and wireless purchases. In addition, card members earn 1% for all other card purchases. Card members also receive $50 toward their travel credits after their first card purchase.
“Less frequent travelers want the flexibility to redeem their travel rewards whenever they want, and not have to wait until a higher threshold has been achieved,” said Charles Chitty, senior vice president, Chase Card Services.
Each year on the anniversary of their card opening, cardmembers who spend more than $10,000 in qualifying purchases receive $25 in travel credits deposited directly into their TravelBank account, as well as five Continental Currency coupons (valued at up to $25). These rewards can be redeemed for things such as in-flight beverages and headsets.
Additional benefits include free and automatic membership in the continental.com Travel Club, Contactless, blink-enabled payment technology, and more.
Fifth Third Adds Gift Cards
CINCINNATI–Fifth Third Bank is getting into the business of gift giving. The financial institution is selling gift cards at all of its locations.
Customers can choose a MasterCard or American Express gift card in any denomination or gift cards for retailers such as Foot Locker, Lowe’s, Applebee’s, JCPenney, Dell, and Eddie Bauer in denominations ranging from $10 to $200.
Moving Forward On Reverse
SUN PRAIRIE, Wis.–Fairway Independent Mortgage Corp. has joined the increasing number of financial institutions offering reverse mortgages. Reverse mortgages are usually offered to older homeowners who are near or at retirement age, allowing them to tap into home equity to supplement their income They typically do not have to be repaid until the borrower dies, permanently moves out of the home, or until the home is sold.
FIMC said it created an entirely new division to provide support and training to regional offices and to ensure better customer service, consistency and compliance. FIMC has more than 100 branches across 40 states.
Credit ScoreTracker Introduced
DALLAS–I Pay Childcare and global banking giant Citibank have rolled out the country’s first pilot program to provide financing for families with children enrolled in childcare and preschool programs. Parents can apply for the Educate Early loan program at participating childcare centers or directly on I Pay’s website. I Pay said it will offer both secured and unsecured loans at competitive interest rates. Once parents are approved for a loan, I Pay Childcare debits the loan account every month and pays the childcare center directly. Citibank will initially fund all approved loans for the pilot program early in 2008. “Our Texas rollout will begin in Dallas/Fort Worth and will be followed by Houston, Austin and San Antonio in 2008,” said I Pay Childcare CEO Ben Robinson. He added that the company is currently evaluating funding options to roll the program out nationally in the second half of 2008.
