Chemical Financial in Midland, Mich., and First National Bank of Omaha in Nebraska have partnered to market and issue a new rewards-based MasterCard.
The $6.2 billion-asset Chemical and $16.2 billion-asset First National started offering the Dream MasterCard on July 21. The card is available to customers who already have other accounts with Chemical Bank.
The Dream MasterCard will not charge users annual fees, late fees, over-limit fees or penalty rates. Rewards can be applied to travel, merchandise or gift-card purchases. The card has a 0% promotional interest rate for six months.
First National of Omaha is issuing the card through its First Bankcard unit. The Omaha bank already works with Chemical on other credit card programs, Stephen Eulie, president of First Bankcard, said in a news release.