BOSTON, July 10, 2017 /PRNewswire/ -- Earning cash
back on everyday purchases has become much easier with Santander
Bank's newest credit card – the Ultimate Cash Back℠ Credit Card –
with consumer benefits that truly live up to its name. Introduced
today, Santander's new Ultimate Cash Back Credit Card is the only
credit card that earns cardholders an unlimited 1.5% cash back on
all purchases with no cap and no annual or transaction fees.*
"The Ultimate Cash Back Credit Card is the most straightforward
card on the market. With easy-to-understand rewards and no surprise
restrictions buried in fine print, whether cardholders are dining
out, gassing up the car, buying groceries, or making any number of
routine purchases, big or small, they will get 1.5% of their money
back without paying any hidden fees," said Ravi Acharya, Head of Consumer Lending and
Innovation at Santander Bank.
He added, "We designed the Ultimate Cash Back Credit Card to
take the guessing out of cash back rewards. Consumer research tells
us that credit card users want a flexible, easy-to-use credit card
that doesn't nickel and dime them with unnecessary fees and ensures
they're going to earn money back on their purchases. At Santander,
we want our customers to have the best possible experience when
using our products and the Ultimate card is one of our many new
initiatives that truly makes banking with Santander
effortless."
Ultimate benefits of the Ultimate Cash Back Credit Card
include:
- Unlimited 1.5% cash back on all purchases across all categories
with no cap.
- No fees in five common categories – more than any comparable
competing product:
-
- No annual credit card fee
- No foreign transaction fee
- No balance transfer fee
- No cash advance fee
- No returned payment fee
- $100 cash back bonus after
spending $500 on new purchases within
the first 90 days of activating and using the card.
- Low introductory Annual Percentage Rate (APR)** for the first
12 billing cycles on balance transfers made within the first 90
days of activating and using the card with NO balance transfer
fee.
Santander is committed to providing customers with financial
products and services that best suit their individual needs. The
Bank recently announced customers can add their Santander credit
and debit cards to Apple Pay, giving them an easy, secure and
private way to make payments at participating merchants in stores,
apps and on the web using their Apple devices. Santander has also
expanded its mobile platform, introducing user-friendly upgrades
and adding new features that make navigation easier. The Bank will
be adding more features and enhancements to its consumer mobile app
throughout 2017.
For more information on the Santander Ultimate Cash Back Credit
Card, check eligibility or learn how to apply, please visit:
www.santanderbank.com/ultimate.
About Santander Bank
Santander Bank, N.A. is one of
the country's largest retail and commercial banks with more than
$83 billion in assets. With its
corporate offices in Boston, the
Bank's 9,500 employees, more than 650 branches, 2,100 ATMs and 2.1
million customers are principally located in Massachusetts, New
Hampshire, Connecticut,
Rhode Island, New York, New
Jersey, Pennsylvania and
Delaware. The Bank is a
wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN)
- one of the most respected banking groups in the world with more
than 125 million customers in the U.S., Europe, and Latin
America. It is managed by Santander Holdings USA, Inc., Banco Santander's intermediate
holding company in the U.S. For more information on Santander Bank,
please visit www.santanderbank.com.
*Late payment and interest charges may still apply. Retail
purchases refers specifically to net new retail purchases, which
does not include purchases returned, balance transfers, cash
advances, including purchases of money orders or other cash
equivalents, purchases made by or for a business purpose, fees,
interest charges, unauthorized/fraudulent transactions. Certain
other charges do not earn cash back credit. Accounts must be
in good standing to redeem cash back rewards.
**3% introductory Annual Percentage Rate (APR) for 12 billing
cycles on balance transfers made within 90 days of opening your
account. After the introductory period, a variable APR for balance
transfers from 15.24% to 24.24%, based on the Prime Rate and your
creditworthiness, with a transaction fee for each balance transfer
of $0. There is no grace period on
balance transfers. Also if you take a balance transfer offer, this
means that unless your purchase APR is at an introductory or
promotional 0% APR, you will pay interest on new purchases from the
date made if you do not pay all balances, including the promotional
balance transfer, in full by the next payment due date appearing on
your statement. Variable APR for purchases from 15.24% to 24.24%,
based on your creditworthiness when you open your account. Cash
advance APR of 25.74%. Minimum finance charge of $1.50. Penalty APR of 30.74%, which may apply
indefinitely to your account if you miss payments or otherwise
default. Rates effective as of 06/01/2017. Rates are subject to
change. 1.5% cash back via statement credit on net new retail
purchases with no limits on how much you can earn. Earn
$100 cash back via statement credit
after you spend $500 on net new
retail purchases within the first 90 days of opening your account.
This credit can take up to 6 weeks to be processed. Late payment
fee and finance charges will still apply.
Media Contacts:
- Stacy Clougherty, Elevate
Communications — sclougherty@elevatecom.com; 508-971-7594
- Ann Davis, Santander Bank –
ann.davis@santander.us; 617-757-5891
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SOURCE Santander Bank, N.A.