SEATTLE -- Nordstrom Inc. announced the.launching of a Visa credit card with incentives for shopping through catalogs and at stores owned by the Seattle-based retailer.

The Nordstrom dividends, credited annually, begin at 1% of the first $1,000 in purchases. They rise by 1% per $1,000, to 5% for $5,000 or more, with no ceiling. Cash advances, balance transfers, gift certificates, and fees are excluded from the calculation.

The card has a $30 annual fee and an introductory interest rate of 14.9%. After Dec. 31, the rate will be calculated monthly at 8.9% over prime.

Nordstrom announced its plan for the card, issued through Nordstrom National Credit Bank in Englewood, Colo., last summer but gave no pricing or marketing details.

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