Associates First Capital Corp. rolled out a new product July 1 that gives customers who make 12 consecutive payments on time a rate reduction of 0.5 percentage point.

After another 12 consecutive on-time payments, the rate is further reduced by 0.75 percentage point.

After the third year of on-time payments, the rate can drop a percentage point, for a total reduction of 2.25 percentage points over three years.

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