New Rewards-Based Visa Credit Cards for Mercedes-Benz Drivers

FARMINGTON HILLS, Mich. and CHARLOTTE, N.C., April 25 -- Mercedes-Benz drivers will now have two new rewards- based credit cards to redeem points for travel and other rewards.

Mercedes-Benz Credit has partnered with Bank of America to offer two new credit cards exclusively to Mercedes-Benz drivers, starting this month.

"Our credit card partner, Bank of America, brings a powerful understanding of the credit card market to the table," said Kathryn A. Blake, Director of Credit Card Services for Mercedes-Benz Credit. "That, coupled with Mercedes- Benz Credit's unique understanding of the Mercedes-Benz customer, enabled us to develop a unique product specifically designed with these customers in mind."

"We're pleased to partner with Mercedes-Benz Credit to deliver cards tailored toward Mercedes-Benz drivers," said Paul Basquin, Bank of America Senior Vice President. "These cards give Mercedes-Benz customers a new way to make the most of their ownership experience by combining the joys of driving a Mercedes-Benz with credit cards that offer superior benefits."

Blake adds that the two companies conducted extensive research last year to find out exactly what Mercedes-Benz drivers were looking for in a credit card.

"We held several Mercedes-Benz driver brainstorming sessions and came away with hundreds of ideas Mercedes-Benz drivers would want in a credit card," Blake said. "We distilled the information into six concepts and presented them to our focus groups. We wanted to find out why people pull certain credit cards out of their wallets and use them."

Using the information suggested by Mercedes-Benz drivers, Basquin, Blake and their teams designed two rewards-based credit cards that enhance the lifestyle of Mercedes-Benz drivers with the addition of travel, lifestyle and retail rewards which were lacking in the original affinity card program.

"We feel our two rewards-based cards are among the strongest cards in a crowded market because we are responding directly to what Mercedes-Benz drivers told us they want in a card," Blake said. "These cards fit into the overall Mercedes-Benz brand strategy that promotes brand loyalty to customers of one of the most recognizable brands in the world."

The Mercedes-Benz Visa Signature(R) offers a rewards program that allows cardholders to earn 1.5 reward points for every dollar spent on net monthly purchases, with up to 10 reward points on Mercedes-Benz dealership transactions. Cardholders can redeem their points for a variety of rewards, including airline travel, vacation packages, merchandise, gift certificates, Mercedes-Benz Credit monthly payments, Mercedes-Benz parts and service or charitable donations. Cardholders can also create their own rewards including hosting a wine tasting, or taking the family on a custom-designed vacation.

Cardholders can also take advantage of additional Visa benefits such as Visa Signature premium offers, Visa dining privileges, Roadside Dispatch, airport parking guarantee, and lost luggage reimbursement, to name only a few.

The partnership between Mercedes-Benz Credit and Bank of America also enhanced the existing Mercedes-Benz Visa(R) Platinum card -- now known as the Mercedes-Benz Visa(R) card. Cardholders can earn Reward Points on purchases, as well as enjoy exceptional benefits without having to pay an annual fee. The Reward component allows cardholders to use their Reward Points toward their choice of Mercedes-Benz Parts and Service at authorized dealerships, Mercedes-Benz Credit monthly payments and Mercedes-Benz Collection and Mercedes-Benz Classic merchandise. They can also take advantage of a host of Visa benefits such as Concierge Service, Auto Rental Insurance, Emergency Cash Service and more.

Both cards can be used without any cap on rewards points and as few as 1,000 points can be applied towards a reward.

Current Mercedes-Benz drivers can sign up for the new Mercedes-Benz Visa Signature card and the Mercedes-Benz Visa card at http://mbcreditcard.com/ .

About Mercedes-Benz Credit

The company provides financing for Mercedes-Benz dealers' inventories and their retail customers. Currently, 350,000 drivers in the United States enjoy the benefits of leasing or financing their Mercedes-Benz vehicles through Mercedes-Benz Credit, which is part of DaimlerChrysler Services North America LLC. DCSNA's group of companies operates in the United States, Canada, Mexico, Puerto Rico and South America. DCSNA is part of the DaimlerChrysler Services Group, headquartered in Berlin, Germany, which operates in 39 countries and has an employee base exceeding 10,800 and a global portfolio of approximately $139 billion. DaimlerChrysler Services Group is one of the leading financial services enterprises worldwide.

About Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving 33 million consumer relationships with more than 5,800 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than twelve million active users. Bank of America is the fourth largest credit card issuer in the United States. The company serves clients in 150 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 85 percent of the Global Fortune 500. Bank of America Corporation stock is listed on the New York Stock Exchange.