Ameriprise Financial (NYSE: AMP) issued its first branded payment cards with MasterCard Worldwide today. This suite of payment cards includes the Ameriprise World Elite® MasterCard®, Ameriprise World MasterCard® and Ameriprise MasterCard® cards as well as the Ameriprise Bank Debit MasterCard®.
“As America’s leader in financial planning1, we at Ameriprise Financial are focused on helping our clients achieve their financial goals,” said Joe Sweeney, president of financial planning products and services for Ameriprise Financial. “We’re confident this new suite of payment cards will be a powerful tool for clients and will help them manage both sides of their balance sheet – assets and liabilities.”
The World and World Elite MasterCard cards offer the ability to earn points towards numerous rewards, conveniences and special access to fine dining, plush spas, high-end shopping, live performing arts events, golf, and other MasterCard® Unique Experiences™. The World Elite card is a premium program with exclusive perks including complimentary airport club access with free visits at over 500 clubs worldwide, 24/7 concierge service, as well as a personal travel consultant and other extraordinary travel privileges through MasterCard’s relationship with Virtuoso, the leader in luxury travel.
“MasterCard’s global acceptance, superior service model and customized benefits targeted at the affluent market made this alliance a good fit for Ameriprise Financial,” said Jeff Williams, president of Ameriprise Bank, FSB. “Our best clients will receive a tiered menu of benefits and rewards to complement their unique lifestyles, dreams and goals. This includes the distinctive ability to convert rewards points into a deposit for qualifying Ameriprise Financial investment accounts. They can use points toward a customized dream vacation today or save for tomorrow.”
Clients earn points through card spending with bonus points for Ameriprise Financial products purchased on the card. Points can be redeemed for travel, entertainment, retail, and charitable giving options; unique experiences such as high-end vacation or shopping experiences; or special Ameriprise Financial options, including 1 percent to 1.5 percent cash back into Ameriprise Financial accounts, financial planning fees or product discounts.
“Today’s announcement is a win-win for MasterCard and Ameriprise Financial,” said Bill Mathis, group executive, U.S. relationship management, MasterCard Worldwide. “Our superior worldwide acceptance will give Ameriprise Financial the opportunity to provide its customers with a new level of access and convenience. At the same time, Ameriprise Financial is creating an expanded avenue through which we at MasterCard can reach affluent consumers with our luxury offers and extraordinary experiences.”
The Ameriprise World Elite MasterCard and Ameriprise World MasterCard are an important component of the Ameriprise Financial client loyalty program, Achiever Circle. This program rivals others in the industry with a wide array of rewards and unique experiences. As a member of the Achiever Circle clients have access to an annual fee-waived Ameriprise World MasterCard and Achiever Circle Elite clients have access to an annual fee-waived Ameriprise World Elite MasterCard.
The premium credit cards are part of a suite of products that include the Ameriprise Bank Debit MasterCard launched in December 2007 and available to clients with an Ameriprise ONE® Financial Account. With the debit card, clients now have access to more than 25 million acceptance locations and 1.8 million ATMs and other locations where cash may be obtained.
Barclaycard US was selected as the service provider for account acquisition, marketing, fulfillment, billing, customer support, rewards program and other program management services for the product suite.
“The Barclaycard US platform is ideally suited for Ameriprise Financial in delivering unique value to its clients” said Lloyd M. Wirshba, Chief Executive Officer, Barclaycard US. “We are delighted that Ameriprise Financial chose Barclaycard US and we look forward to launching this one-of-a-kind program.”
About Ameriprise Financial
Ameriprise Financial, Inc., is a leading financial planning and services company with approximately 12,000 financial advisors and registered representatives that provides solutions for clients' asset accumulation, income management and insurance protection needs. The company's financial advisors deliver tailored solutions to clients through a comprehensive and personalized financial planning approach built on a long-term relationship with a knowledgeable advisor. The company specializes in meeting the retirement-related financial needs of the mass affluent and affluent. Financial planning services and investments are available through Ameriprise Financial Services, Inc., Member FINRA and SIPC. For more information, visit ameriprise.com.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to mastercard.com.
About Barclays PLC
Barclays PLC is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. It is one of the largest financial services companies in the world by market capitalisation. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 135,000 people. Barclays moves, lends, invests and protects money for over 27 million customers and clients worldwide. For further information about Barclays, please visit our website barclays.com.
Headquartered in Wilmington, DE, Barclaycard US has more than 60 partnerships with some of the country’s most successful travel, entertainment, retail and financial institutions including US Airways, Lufthansa, Barnes & Noble, BJ’s Wholesale Club, Best Western, Travelocity and Carnival Cruise Lines. The company employs more than 1,100 associates and was named a Top Employer in Delaware in 2007. For more information please visit barclaycardus.com.
1Ameriprise helped pioneer the financial planning process more than 30 years ago. Our unique Dream > Plan > Track >® approach is about more than just numbers, it's both science and art. We have more financial planning clients and more CERTIFIED FINANCIAL PLANNER™ professionals than any other company in the U.S. based data filed at adviserinfo.sec.gov.and documented by the CFP Board of Standards, as of Dec. 31, 2006.
The Ameriprise Bank MasterCard® debit and credit cards are issued by Ameriprise Bank, FSB pursuant to a license from MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.
Ameriprise Financial cannot guarantee future financial results.
Brokerage, investment, and financial advisory services made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC.
© 2008 Ameriprise Financial, Inc. All rights reserved.
Contacts:
Ann Wasik, 612-678-1592
ann.m.wasik@ampf.com
or
MasterCard
Worldwide
Brian Greehan, 914-249-5895
brian_greehan@mastercard.com
or
Barclaycard
US
Kevin Sullivan, 302-255-8637
kmsullivan@barclaycardus.com
