Executive Director’s Commentary
By Don Eversmann, F240000
I am happy to announce that FMCA has partnered with U.S. Bank to offer a new credit card program to the membership. In addition to providing FMCA with a revenue stream to use for the association’s membership needs, as such programs typically do, members who use their U.S. Bank credit card will earn a reward point for each dollar they spend.
These rewards are especially appealing because of U.S. Bank’s attractive reward program. Points can be redeemed for cash, merchandise, or air miles on any airline.
FMCA has provided its members a credit card program for quite some time, and these programs have changed significantly over the years. The most recent FMCA credit card program had no annual fee, but beyond that, it provided limited benefits to the member.
With the U.S. Bank credit card, specially selected travel- and leisure-related merchandise is available as point reward options, such as Coach bag accessories, Samsonite luggage, Sony electronics, and Canon cameras and video recorders. Merchandise can be selected from a list of program partners, or members can name their own rewards. If an FMCA member wants to purchase a product or service, the U.S. Bank rewards department will source the item and convert the dollar amount into points needed to make the purchase.
Points also may be redeemed for gift certificates that can be used for car rentals, electronics, and restaurants. Certificate redemption begins as low as 5,000 points, for which the cardholder gets $50 in rewards. This program has great flexibility, and the lower redemption thresholds let the cardholder realize rewards sooner. Plus, you will automatically earn 2,500 points as an enrollment bonus. New rewards are added on a regular basis.
FMCA members will be able to choose between Select Rewards and Platinum Non-Rewards cards. Both cards will be designed with visuals that reflect the motorhome lifestyle and will include the FMCA name. Both cards will have no annual fee.
U.S. Bank will offer FMCA members a 0% annual percentage rate (APR) for the first six months on all purchases and balance transfers, with no balance-transfer fees.* The APR after six months will be based on the creditworthiness of the applicant. After the first six months, the rate goes to:
- Non-Rewards card: prime rate plus 3.99 percent to 12.99 percent
- Rewards card: prime rate plus 5.99 percent to 12.99 percent
The U.S. Bank credit card program also provides for emergency card replacement, emergency cash, auto rental insurance, travel and emergency services (including lost luggage), travel accident insurance, warranty manager (doubles the warranty of all products and services), and much more. These benefits are automatically activated when you use your FMCA U.S. Bank Visa® credit card.
U.S. Bank credit card holders also qualify for the use of a free program called the U.S. Bank Shopping Mall. Customers can take advantage of tremendous savings when they use their U.S. Bank Visa® credit card. These offers and partner listings are changed and updated frequently.
U.S. Bank has been issuing credit cards for more than 30 years. The company has branches in 24 states and does business in all 50 states. U.S. Bank is publicly traded on the New York Stock Exchange under the symbol USB. It is the sixth-largest combined card issuer in the world. U.S. Bank currently has more than 150 similar credit card programs with such partners as Northwest Airlines, Harley Davidson, and Lexus.
One of the nice things that I have found out about U.S. Bank is that it manages every step of a credit card member’s service in-house. It does not outsource any service functions. One example of this benefit for FMCA card members is U.S. Bank’s Identity Theft Unit. If an FMCA credit card member becomes a victim of identity theft, a personal specialist at U.S. Bank will guide the member through recovery. U.S. Bank also will provide FMCA credit card members with its Cardmember Service Guarantee. If an FMCA credit card member has a service experience outside of U.S. Bank’s guarantee levels, the company will credit $5 to the member’s account. U.S. Bank’s credit card member service levels, at all stages of the credit card member experience, are industry-leading and will continue to be a focus for FMCA credit card members.
U.S. Bank has identified a staff of professionals whose job it is to understand the FMCA membership base, their changing payment needs, and all of FMCA’s needs relative to credit card marketing and service.
If you’re an FMCA member, be looking for more information about this new credit card program through the mail soon. If you want to learn more now and are considering signing up for an FMCA U.S. Bank credit card, call the Membership Department at the FMCA national office at (800) 543-3622.
I certainly encourage you to consider the new FMCA U.S. Bank Visa® credit card. You will be earning rewards for yourself as you use it, and FMCA will benefit also by gaining funds it can use to offer member benefits in the future.
* The 0% introductory APR does not apply to cash advances and is valid for the first six billing cycles on purchases and balance transfers. Thereafter, the APR may vary and as of March 31, 2006, the undiscounted variable APR for Purchases and Balance Transfers is 13.74 – 22.74% (depending on your credit history). The variable APR for Cash Advances is 22.74%. There is a variable Delinquency Rate APR of 28.74% if your payment is late or you are over the limit. Cash Advance fee: 4%, $5 minimum. Convenience Check Advance and Overdraft Protection Advance Fees: 3%, $5 minimum, Cash Equivalent fee: 4%, $10 minimum. No balance Transfer fees for the first six billing cycles. There is a $2 minimum finance charge where interest is due and a $2.50 closed management fee if you voluntarily close your account with a balance. Foreign Transaction fee, 3% of the amount of your transaction in U.S. dollars. The late payment fee is $15 for balances $0.01 – $99.99, $29 for balances $100 – $999.99, and $39 for balances of $1,000 or more.
The creditor and issuer of the Family Motor Coach Visa® card is U.S. Bank National Association.