Sam's Club And Ge Consumer Finance Launch New Credit Cards Where Members Earn Up To 2 Percent Cash Back
March 15, 2005
STAMFORD, CONN. -- March 15, 2005 -- Wal-Mart
(NYSE:WMT) and GE Consumer Finance (NYSE:GE) are
launching two new credit cards on the Discover®
Network -- one for business members of SAM'S
CLUB and one for consumers. The new SAM'S CLUB®
DISCOVER® will be available in all 552 SAM'S CLUB
locations in April. Both cards offer members
even more ways to save, and are issued by GE Consumer
Finance. The Business card is the first such
card ever offered on the Discover Network.
“The new SAM'S CLUB DISCOVER allows our Plus
Members the opportunity to earn up to 2 percent
cash back on every purchase, everywhere Discover
Network cards are accepted,” said Cara Kinzey,
vice president of Membership, SAM'S CLUB. “With
this offering, members do not have to revolve
a balance or buy at specific locations to earn
their cash back. We believe this revolutionary
credit card is the best offering available in
the marketplace and are very excited to give members
more ways to save.”
The SAM'S CLUB
DISCOVER is the most convenient way for businesses
and consumers to take advantage of low prices
at SAM'S CLUB, and also offers additional value
to business members through competitive interest
rates and flexible payment options. There are
no credit card fees and item exclusions. The
card also includes a $1 million spending cap.
The new SAM'S CLUB DISCOVER offers up
to 2 percent cash back for Plus members every
time and everywhere Discover Network cards are
accepted (1 percent for Advantage and Business
members). Consumers also can enjoy convenient
no fee cash access at the register in amounts
of $20, $40 or $60 when using their SAM'S CLUB
DISCOVER at any of the 552 club locations across
the U.S.
SAM'S CLUB and GE Consumer Finance
also announced an extension of their retail card
partnership in the United States.
“We're
thrilled to be extending our partnership with
SAM'S CLUB and to expand that relationship to
include a credit card program that will bring
more choices and more value to SAM'S CLUB members,
plus help grow SAM'S CLUB sales,” said Mark W.
Begor, president and chief executive officer,
GE Consumer Finance-Americas.
In addition,
the new SAM'S CLUB DISCOVER offers extra value
and convenience, including:
·No annual credit
card fee
·No item exclusions and an annual
$1 million spending cap
·One-card convenience:
serves as a membership card and integrated credit
card all-in-one
· Choice of payment due date
-- members can choose to pay their balance at
the beginning, middle or end of the month
·
Everyday financing promotions
·Up to eight
authorized buyers for Business Members per account
(16 for SAM'S CLUB Plus Members)
·Multiple
ways to pay, either in SAM'S CLUB or Wal-Mart
stores nationwide, or online at www.samsclubcredit.com
·Itemized billing statements for purchases
at SAM'S CLUB and Wal-Mart to allow business members
to track expenses with purchase order details.
·A card that is secured with the member's
photo and $0 fraud liability
About
SAM'S CLUB
SAM'S CLUB (www.samsclub.com),
a division of Wal-Mart Stores, Inc., is the nation's
largest warehouse chain in the United States serving
small business owners and operators. The purchasing
agent of choice, SAM'S CLUB provides every day
low cost to more than 46 million entrepreneurs
and consumers nationwide.
About
GE Consumer Finance
With $150 billion
in assets, GE Consumer Finance, a unit of General
Electric Company, is a leading provider of credit
services to customers, retailers and auto dealers
in 41 countries around the world. GE Consumer
Finance, based in Stamford, Conn. (USA), offers
a range of financial products, including private
label credit cards, personal loans, bank cards,
auto loans and leases, mortgages, corporate travel
and purchasing cards, debt consolidation and home
equity loans and credit insurance. More information
can be found online at www.geconsumerfinance.com.
GE (NYSE: GE) is a diversified technology, media
and financial services company dedicated to creating
products that make life better. For more information,
visit the company's Web site at www.ge.com.
# # #
Contact:
Mike
Ettlemyer, GE Consumer Finance
(203) 585-6791
michael.ettlemyer@ge.com
Jolanda
Stewart, SAM'S CLUB
(479)-277-8223
jolanda.stewart@samsclub.com