BUFFALO - M&T Bank will issue a cobranded credit card with the Price Chopper supermarket chain.
Consumers will get a 2% rebate toward the purchase of groceries when they use their Price Chopper Visa at any of the 12 million retail locations that accept the cards. The rebate will be redeemable at the 79 Price Chopper markets and Mini Chopper convenience stores in New York, Massachusetts, Pennsylvania, and Vermont.
Rebates will be awarded after a minimum of $250 has been charged to the card. The rebates are capped at $500.
The no-fee card has an 8.9% introductory interest rate through March of 1996, followed by 8.9% over prime for the gold version, and prime plus 9.9% for the classic card.
M&T, owned by Empire State Corp., has introduced the Tops Friendly Markets Visa, another supermarket card, and the Frontier Visa, which offers discounts on long distance telephone calls.
The Buffalo-based bank has 170,000 accounts and $205 million in receivables.