| By Jim Bruene on June 19, 1997 12:04 PM | Comments (0) |
Humboldt Bank
www.futurecard.org
FutureCard banner ad on Credit Card Network.
Humboldt Bank (Eureka, CA; $153 million) is offering secured and unsecured Visa cards on The Credit Card Network’s Web www.creditnet.com. The banner ad (above) is clearly aimed at people with credit problems. An unsecured card with credit limit of $250 to $1,000, annual fee of $55, and set-up fee of $98 ensures steady fee income. The secured card costs $69 in year one and $35 thereafter but charges no set-up fee beyond the $69.
Humboldt Bank’s version of an electronic check allows users to electronically submit a deposit to open a secured Visa card account.
Humboldt’s credit card application takes a novel approach to collecting the initial secured-card deposit. A Check by Draft form (above) allows applicants to instantly authorize a checking account withdrawal while still online. It’s the first bank we’ve seen using this approach, one that is guaranteed to improve the percentage of customers actually following through with a deposit.
Contact: Ken Musante is AVP Cards, 707.445.3233.
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