As other banks rein in their cobranding programs, Chase Manhattan Corp.
Starting June 1, Chase and Shell will eliminate the $70 cap on rebates
The rebate for other purchases will be lowered, however, from 2% to 1%.
Chase-Shell is the largest of the gasoline cobranding programs, but its
Of the 10 other cobranded gas cards-five of them issued by Associates
Those that do, like the British Petroleum card issued by Banc One Corp.
Nevertheless, Chase said Shell cardholders had earned over $300 million
There are 2.7 million Shell cards in force, according to RAM Research
Robert B. McKinley, president of RAM, said the Chase-Shell partnership
"So many of these relationships have fallen apart recently," he said.
Chase is "in cobranding for the long haul. Other issuers got into it as
Chase also offers co-branded cards with Wal-Mart Stores, Continental