Co-branded cards now on MasterCard network; include ‘chip’ for
additional security
MINNEAPOLIS--(BUSINESS WIRE)--May 15, 2015--
U.S. Bank announces the long-term renewal of its co-brand partnership
with REI and the launch of the new REI World MasterCard®.
Under the agreement, the new REI co-branded credit cards will offer
members more opportunities to earn through everyday purchases. The card
portfolio will be converted to MasterCard with EMV chip-card technology,
better protecting members from card-present counterfeit fraud.
“We are thrilled to continue our partnership with REI,” said Robert
Goeller, senior vice president at U.S. Bank. “This long-term extension
and partnership enhances our existing credit-card program through
delivery of high-value products and services. Our goal is to enable REI
members to accelerate reward earnings and take greater advantage of
REI’s exceptional service, gear and unique adventure-trip experiences.”
The launch of the new REI World MasterCard offers members many benefits,
including:
-
5 percent back on all REI purchases
-
2 percent back on groceries through March 2016
-
1 percent back everywhere else the card is accepted
-
No annual fee
-
$100 REI gift card for all new accounts opened with a purchase made
within 60 days of opening the account
-
Other exclusive MasterCard benefits and features
“REI members could turn up in any and every country as they pursue their
outdoor passions. They can travel with confidence knowing that
MasterCard is widely accepted,” said Michael Cyr, executive vice
president, Market Development, MasterCard. "REI cardmembers also gain
peace of mind from greater chip card security and protection. You can
safely use your MasterCard, anywhere, anytime.”
For more about the REI World MasterCard or to apply today, visit www.reimastercard.com.
Full terms and conditions apply.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $410 billion
in assets as of March 31, 2015, is the parent company of U.S. Bank
National Association, the fifth-largest commercial bank in the United
States. The company operates 3,172 banking offices in 25 states and
5,016 ATMs and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
About MasterCard
MasterCard (NYSE:
MA), www.mastercard.com, is
a technology company in the global payments industry. We operate the
world’s fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in more
than 210 countries and territories. MasterCard’s products and solutions
make everyday commerce activities – such as shopping, traveling, running
a business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardNews, join
the discussion on the Beyond
the Transaction Blog and subscribe for
the latest news on the Engagement
Bureau.
About REI
REI is the nation’s largest consumer co-op with a
growing community of more than 5.5 million members. In March the leading
outdoor retailer announced a record annual dividend, returning $168
million to its members. As part of its mission to give back to the
outdoor community, REI will also invest nearly $8 million in non-profits
and new projects to create access to inspirational outdoor places.
Source: U.S. Bancorp
U.S. Bank Public Relations
Michael Bares, 612-973-1918
michael.bares@usbank.com