CircuitCity.com has launched a new payment option, the CircuitCity Preferred Account, that seeks to build customer loyalty by allowing customers to finance their purchases and offering account-specific offers and promotions.
CircuitCity.com is promoting the option on its web site and e-mails by offering preferred account holders $20 off a purchase of $100 or more when they use the account.
A shopper can apply for the account at checkout. After answering two security questions, the shopper receives a credit check.
Account holders pay no interest for up to 12 months on orders of $1,000 or more and up to six months for orders of $250 or more.
“We think there is a loyalty factor here,” says Bruce Leeds, vice chairman of CircuitCity.com parent company Systemax Inc. “The people who apply are likely to come back more often and use the card. That’s a big positive.”
Systemax, which offers similar programs with some of its other brands, such as TigerDirect.com, uses BillMeLater’s back-end infrastructure for the program.
Systemax is No. 21 in the Internet Retailer Top 500 Guide.