Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
CUs new elite card deemed one-of-a-kind
FARMERS BRANCH, Texas (7/9/09)--Texas Dow Employees CU (TDECU) and TNB Card Services have launched a card product, Onyx, which blends revolving and non-revolving credit to offer triple buying power. The card was designed to compete with elite card brands. Onyx targets members with credit scores of 720 or higher. A cardholder with a $10,000 credit limit can access up to three times the line of credit. The first $10,000 is on a revolving limit, like a traditional card. The remaining balance, or non-revolving credit, is due in full at the end of each billing cycle, said the Texas Credit Union League (LoneStar Leaguer July 8). Cardholders also earn up to 2% cash back for all purchases, including non-revolving transactions. The card also has a benefits package that includes purchase assurance, price protection, extended warranty, travel accident and baggage delay insurance, master rental and concierge service. TDECU and TNB worked together to develop the card. “We took a look at our entire membership, and selected benefits that we felt would be attractive to our members from a brand and feature perspective,” said Ron Wright, TDECU vice president of payment systems. “It wasn’t an easy task, considering we completely customized our processing for this product by developing new fraud tables and risk management strategies in order to manage the complexity and expansion of the product,” added Darby McDermott, TNB Card Services account executive. “We also deployed an advanced behavioral scoring system to routinely monitor cardholder credit and automatically set new spending thresholds based on evolving credit score.”


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
11 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
12 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
14 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
15 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
16 hours ago