Circuit City, Chase to Launch Rewards Credit Card
Instant Credit Available to Consumers at More Than 600 Circuit City Stores
RICHMOND, Va., Oct. 5 /PRNewswire-FirstCall/ -- Today, Circuit City Stores,
Inc. (NYSE:CC) and Chase (NYSE:JPM) introduced the new Circuit City Rewards
Visa* Card, which gives shoppers an opportunity to earn rewards towards Circuit
Cardmembers will earn reward points totaling five percent on all card purchases
made at any Circuit City store or online at circuitcity.com, excluding items
purchased with special financing offers or gift card purchases. In addition,
cardmembers will earn one percent on card purchases made anywhere else Visa
credit cards are accepted.
Rewards points will be automatically credited to cardmembers' accounts, giving
cardmembers the flexibility to choose to redeem their rewards with as few as
500 points, which is valued as a $5 reward certificate, or save them for future
purchases at Circuit City. Soon, cardmembers may view reward point balances
and redeem points at circuitcityrewards.com or by calling 800-603-8987.
"The Circuit City Rewards Visa Card is a great way to create a rewards program
that is loyal to our customers," said W. Alan McCollough, chairman, president
and chief executive officer of Circuit City. "One of the key benefits of this
program is that it offers Circuit City customers a choice when making purchases
at our stores. They can opt to earn rewards for their purchases or take
advantage of special promotional financing we offer on products."
In addition, consumers may apply for the card and receive instant credit in
Circuit City stores nationwide.
"Circuit City customers now have a choice to earn and redeem rewards or take
advantage of no interest promotional offers at one of America's leading
electronics retailers," said Daniel P. Tierney, senior director at JPMorgan
Chase & Co.'s card services' division. "With the Circuit City Rewards Visa
Card, consumers can take advantage of the rewards program and redeem their
points for great merchandise."
The Circuit City Rewards Visa Card also features a competitive interest rate
and no annual fees. Customers who do not qualify for a Circuit City Rewards
Visa card may qualify for a Circuit City private-label card, which offers the
same rewards program.
Circuit City stores will continue to accept existing Circuit City cards and
Circuit City Plus Visa cards. Eligible consumers can choose to upgrade their
existing Circuit City Plus Visa card to a Circuit City Rewards Visa Card or the
Circuit City Rewards Card by visiting any Circuit City location.
About Circuit City Stores, Inc.
Richmond, Va.-based Circuit City Stores (NYSE:CC) is a leading specialty
retailer of consumer electronics. Circuit City operates 613 Superstores and
five mall-based stores in 159 U.S. markets. Its international segment operates
through more than 1,000 retail stores and dealer outlets in Canada. Circuit
City also operates a Web site at http://www.circuitcity.com/.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010709/CCLOGO )
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE:JPM) is a leading global financial services firm
with assets of $1.1 trillion and operations in more than 50 countries. The
company has approximately 96 million credit cards issued. Under the JPMorgan,
Chase and Bank One brands, the firm serves millions of consumers in the United
States and many of the world's most prominent corporate, institutional and
government clients. Information about the firm is available at
* Visa and the Visa logo are registered trademarks of Visa U.S.A.
http://www.newscom.com/cgi-bin/prnh/20010709/CCLOGODATASOURCE: Circuit City
CONTACT: Bill Cimino of Circuit City, +1-804-418-8163,
; or Jessica Iben of JPMorgan Chase & Co.,
Web site: http://www.circuitcity.com/
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