Citicorp announced a cobranded credit card Thursday with Sony Corp.
Offered in MasterCard and Visa versions, it is to give cardholders discounts on Sony merchandise and services and is already being promoted in print advertisements as the "official currency of playtime."
A. Sami Siddiqui, general manager of Citibank's North American cards division, said the deal reflects the banking company's desire to "forge alliances with big brands." It has major cobranding relationships with American Airlines and AT&T Corp.
Sony cardholders earn one point for each dollar they spend with the card, double points on purchases of Sony merchandise, and triple points when buying from partner retailers like P.C. Richard, Circuit City, and Nobody Beats the Wiz. Two tickets to a Sony movie theater would go for 1,300 Sony points, or $400 of purchases.