Chase Manhattan and Bell Atlantic Launch New Co-Branded Credit Card
February 19, 1998
NEW YORK, -- The Chase Manhattan Corporation
(NYSE:CMB) and Bell Atlantic Corporation (NYSE:BEL) have launched a
new co-branded credit card in Bell Atlantic's service area from Maine
The Bell Atlantic Credit Card from Chase has no annual fee and is
offered as a MasterCard® or Visa® in classic and gold. The card
offers Bell Atlantic residential customers the opportunity to earn
cash back toward their Bell Atlantic home telephone bill. To apply for
the card, customers may call 1-800-545-3393, 24-hours a day, 7 days a
"The Bell Atlantic Credit Card from Chase offers consumers the
combination of two of the most powerful brands on the East Coast,"
said Michael Urkowitz, Chase executive vice president responsible for
the bank's credit card business. "With Bell Atlantic, the premier
telecommunications provider for the region, and Chase, the largest
bank in the U.S., cardholders will have all the benefits and
privileges of worldwide recognition and acceptance, as well as no
annual fee and cash value rewards."
Marianne Berry, Bell Atlantic vice president for Credit Card and
Loyalty Marketing, said, "There is a lot of interest in this type of
rewards card. Unlike other cards, with the Bell Atlantic Credit Card
from Chase customers don't have to wait a long time to get their
rewards, and there is no limit on the rewards they can earn. These
benefits make our card a very valuable asset for customers."
In addition, Chase is issuing the new card to the more than 70,000
cardholders of the NYNEX/Chase credit card. Chase purchased the Bell
Atlantic Visa portfolio from First Omni Bank, N.A. in August 1997, and
in April will issue the new Bell Atlantic Visa Card from Chase to more
than 500,000 cardholders in Bell Atlantic's mid-Atlantic territory.
Cardmember rewards and benefits:
Cardmembers can earn cash back toward their Bell Atlantic phone bill
- 1 percent on amounts purchased with the Bell Atlantic Visa or
MasterCard from Chase.
- 2 percent on Bell Atlantic residential phone services, and
- 3 percent on qualified Bell Atlantic Calling Card calls.
Every time cardmembers earn $20 in rewards, they will automatically
receive a $20 cash-value check, good toward their Bell Atlantic home
Other benefits of the new Bell Atlantic Credit Card from Chase include
free purchase protection, extended warranty, travel accident
insurance, and the ability to use the card at millions of Visa and
MasterCard locations around the world.
- Low introductory 6.9 percent fixed annual percentage rate (APR) for
9 months on purchases and balance transfers.
- Prime* + 7.4 percent for balances above $2,500, Prime* + 9.4 percent
for balances up to $2,500 begins after 9-month introductory period,
- Prime* + 11.55 percent for cash advances.
Chase's credit card portfolio has more than 20 million accounts and
approximately $30 billion in outstandings. Chase is the fourth
largest bank card issuer in the United States, and its joint venture
with First Data Corporation is the largest merchant processor in the
"In addition to our relationship with Bell Atlantic, Chase issues
successful co-branded cards with the world's largest retailer and a
major oil company and is committed to maintaining reward and value
programs that offer real value to our customers," said Mr. Urkowitz.
The Chase Manhattan Corporation is the largest banking company in the
United States, with more than $365 billion in assets, and
relationships with more than 30 million consumers. Chase provides
integrated solutions that meet its customers' payment, savings,
investment, insurance, credit and financial planning needs. For all
those who work hard to achieve or sustain a good life in a world of
enormous opportunity and challenge, Chase is the complete financial
resource and ally that makes life easier.
Bell Atlantic - formed through the merger of Bell Atlantic and NYNEX -
is at the forefront of the new communications and information
industry. With 40.5 million telephone access lines and six million
wireless customers worldwide, Bell Atlantic companies are premier
providers of advanced wireline voice and data services, market leaders
in wireless services and the world's largest publishers of directory
information. Bell Atlantic companies are also among the world's
largest investors in high-growth global communications markets, with
operations and investments in 21 countries.
*The Prime Rate is as published on the last business day of the month
in The Wall Street Journal.
Visit Chase's website at http://www.chase.com for more information on
Chase products and services.