SAN FRANCISCO, CA – In a move to offer Charles Schwab clients more integrated banking services, Charles Schwab Bank today announced its newest offering — the Charles Schwab Bank Visa® credit card with WorldPoints™ Rewards. The Schwab Bank Visa credit card offers one of the most comprehensive rewards programs available today and is one of the few credit cards among major financial services firms that has the ability to redeem points for equity trades.
“We’re excited to offer a feature-rich credit card with Platinum Plus-level benefits that gives our cardholders the choice of redeeming points for rewards they value, whether it be equity trade rewards, airline tickets, cash rewards, gift certificates or brand-name merchandise — all for no fee,” said Richard Kenny, Schwab Bank President.
In addition to the ability to redeem points for equity trades, starting mid-November 2004, Schwab Bank credit cardholders will be able to access their credit card account and their Schwab brokerage accounts, with a single log-in to schwab.com.
Cardholders can quickly accumulate points through the WorldPoints rewards program, earning one (1) point for every dollar spent. Charles Schwab & Co., Inc. will provide more points when the Schwab Bank Visa credit card is used for qualifying Schwab brokerage charges, such as portfolio consultations.
There are more than 100 options for redeeming WorldPoints, including flexible air rewards with no blackout dates or required Saturday stays, companion airline tickets for only 15,000 WorldPoints, 1% cash rewards, gift cards, merchandise from a wide range of retailers, and the concierge service featuring VIP event ticket access, and dining and entertainment reservations. In addition, the card offers assistance in the event of identity theft, with no annual fee and no rewards program enrollment fee.
“Our research showed us that cardholders were very interested in a rewards program that offered a wide range of redemption options for rewards points,” Kenny said. “Clearly, consumers are looking for ways to better manage their various financial accounts, and we designed the Schwab Bank credit card to meet that need.”
In addition to a low variable Annual Percentage Rate (APR) on purchases and cash advances, the Charles Schwab Bank Visa credit card features premium benefits including:
- Competitive credit limits for eligible applicants
- Best price guarantee on retail purchases
- Purchase protection against theft and accidental damages up to $500
- Longer warranty for valuable purchases
- Travel accident insurance up to $1,000,000
- Identity theft notification assistance with the help of fraud resolution specialists
- Emergency assistance services while traveling
- Auto rental insurance
- Personalized concierge services
- Additional card at no extra charge
- A variety of reward program benefits
To apply for a Charles Schwab Bank Visa credit card, consumers can call 1-866-724-9223 and mention priority code KOOE or apply online through www.schwab.com. For an instant decision, consumers can call Monday through Friday, 8:00 a.m. to 9:00 p.m. Eastern Time. Terms and conditions apply.
About Charles Schwab Bank
Headquartered in Reno, Nevada, Charles Schwab Bank, N.A. provides checking, savings, money market and CD accounts, home mortgages, ATMs, credit cards and debit cards. Deposits are FDIC-insured. Clients can access bank services at the banking office in Reno and by phone, mail or www.schwabbank.com, and get information about the Schwab Bank Visa credit card from Schwab Investor Centers. Charles Schwab Bank, N.A. is a subsidiary of The Charles Schwab Corporation. Charles Schwab Bank, N.A. is an Equal Housing Lender.
