U.S. Bank has signed a new long-term card-issuing partnership with Auto Club Trust FSB (ACT), a subsidiary of The Auto Club Group (ACG), to launch two new credit cards.
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The new MasterCard co-branded credit cards include the AAA Dollars Plus MasterCard and AAA Dollars MasterCard.
The AAA Dollars Plus MasterCard has been designed for ACG’s AAA members. The card will not charge any annual fee or foreign transaction fees on purchases abroad.
Cardholders can secure 3% on qualifying net AAA purchases and travel, 2% on qualifying net gas, grocery and drug store purchases, as well as 1% on qualifying net purchases everywhere else.
The AAA Dollars MasterCard has been designed for members preferring a credit card with a competitive APR.
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By GlobalDataThe card offers a low introductory APR, a competitive go-to rate, and does not charge any annual fee. In addition, it enables cardholders to secure 1% rewards on all qualifying net purchases.
U.S. Bank senior vice president, co-brand partnerships, Robert Goeller said: "U.S. Bank’s unique relationship with ACT and MasterCard creates a dynamic alliance that extends valuable membership rewards benefits to ACG members.
"Whether earning AAA Dollars to purchase AAA travel and services or choosing the cash back option – the credit card rewards program offers flexibility that cardholders appreciate."
In association with the new ACT program, U.S. Bank has also signed an agreement to acquire the existing $500m-plus ACG credit card portfolio at the end of the third quarter.
