November 2, 2001, 12:00 AM

Amazon offers a proprietary virtual credit card

Amazon.com today introduced a virtual proprietary credit card that customers can use to shop at Amazon.com. It is being offered by Citibank and Amazon.com Financial Services Inc.

For decades, stores have tried to create customer loyalty by offering proprietary credit cards. Now, further evidence that web retailing is becoming more like traditional retailing, but with a twist, Amazon.com today introduced a proprietary credit “card.”

Not actually a card, but a credit account administered by the Citi Commerce Solutions division of Citibank in conjunction with Amazon.com Financial Services Inc., Amazon will offer a line of credit to customers who don’t have credit cards or who want a proprietary credit account with Amazon.

To launch the card, Amazon is giving a three-month, interest-free grace period on orders of more than $200 placed through Jan. 31. The finance offer does not apply to purchases made from the Amazon Marketplace, auctions or Z shops, or at the Circuit City portion of Amazon. The offer also cannot be used for gift certificate purchases and cell phone deposits. The interest rate on the card is 22.9%.

 

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Jock Purtle / E-Commerce

What is your e-commerce business worth?

The founder of a merger and acquisitions consulting firm examines how e-retailers can know the ...

FPO

Adrien Henni / E-Commerce

Alibaba and Chinese e-commerce rivals target Russia

Besides Alibaba, Chinese e-commerce companies like LightInTheBox and DinoDirect are seeking deals to get goods ...

Advertisement