BARTLESVILLE, Okla. - Phillips 66 Co. has released details about its cobranded MasterCard, issued by Associates National Bank.
The gasoline card will offer a 2% rebate on purchases made at Phillips 66 outlets and 1% back at all other locations with no annual cap.
The no-fee card comes with a 6.6% interest rate for the first six months, jumping to prime plus 9.9% to 11.9% thereafter, depending on the applicant's financial qualifications. There is no gold card.
Balance transfers of $500 or more are rewarded with $66 in free gasoline coupons. Customers are sent 11 coupons, worth $6 a piece, to be used with the purchase of eight gallons or more of gas. Only one coupon can be redeemed per fill-up.
Associates National Bank, a subsidiary of Ford Motor Co., has 2.5 million credit card accounts with $3.5 billion in managed receivables.
Phillips 66 owns more than 7,000 retail locations across the nation.