SALT LAKE CITY & OMAHA, Neb. & PURCHASE, N.Y.--(BUSINESS WIRE)--Overstock.com, First National Bank of Omaha, and MasterCard Worldwide today announced the launch of the Overstock.com® MasterCard® credit card, which provides enhanced rewards for Overstock.com customers. The card offers Overstock.com customers additional savings on Overstock.com online purchases, as well as reward dollars on other purchases made when using the card.
“We’re always looking for ways to provide our customers with the best value and superior customer experience,” said Overstock.com President, Jonathan Johnson. “We’re excited to be working with MasterCard and First National Bank to offer our customers an easy way to stretch their shopping dollars and save even more on Overstock.com purchases.”
Customers who sign up for the Overstock.com MasterCard credit card will receive a free membership to Club O Rewards™, Overstock.com’s exclusive customer rewards program. Club O Rewards provides customers with access to exclusive shopping events and sweepstakes, as well as free shipping and 5% back in Club O Rewards Dollars™ on qualified Overstock.com purchases. The Overstock.com MasterCard credit card enhances these benefits by providing an additional 3% back in Club O Rewards Dollars on Overstock.com purchases, for a total of 8% back in rewards dollars on qualified Overstock.com purchases made with the card, plus an additional $10 Club O Rewards Dollars credit the first time the card is used.
“First National Bank of Omaha has been focused on providing our customers with outstanding customer service and innovative financial products for more than 150 years,” said Stephen F. Eulie, president of First National Credit Card Center. “With a strategic focus in the partnership space, we feel this partnership with Overstock.com and MasterCard is a perfect fit. We’re able to expand our partnership business, while simultaneously providing Overstock.com’s customers new ways to get more value for their money.”
In addition to receiving 8% back in Club O Rewards Dollars on purchases at Overstock.com, Overstock.com MasterCard cardholders earn 1% back in Club O Rewards Dollars when they make purchases at other retailers, including grocery stores, gas stations or thousands of other merchants where the Overstock.com MasterCard credit card is accepted. Overstock.com MasterCard cardholders can use these accumulated Club O Rewards Dollars to purchase merchandise on Overstock.com.
“Overstock.com is a leading online retailer with a customer base that seeks quality and affordability, and First National Bank of Omaha is a leader in credit card co-brand programs,” said Craig Vosburg, Group Executive, Market Development, U.S. Markets, MasterCard Worldwide. “This partnership demonstrates that MasterCard’s commitment to making the online shopping experience more valuable for online merchants and consumers has made us the brand of choice for e-commerce.”
Club O Rewards memberships are available for an annual fee of $19.95 for non Overstock.com MasterCard card cardholders. For more information about the Overstock.com MasterCard card, visit www.overstock.com/cobrand.html?uuidCode=L23592XRPWZNP&subAgentCode=000.
Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com/. Overstock.com regularly posts information about the company and other related matters on its website under the heading "Investor Relations." Overstock.com(R) is a registered trademark of Overstock.com, Inc. Club O Reward™ and Club O Reward Dollars™ are trademarks of Overstock.com, Inc. All other trademarks are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding the current and future components of the Club O Rewards program, the amount, size and frequency of rewards, and the associated benefits and program promotional events. Overstock.com’s Form 10-K for the year ended December 31, 2009, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and its other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
About First National Bank of Omaha
First National Bank of Omaha is a leader in the credit card partnership arena. With currently more than 600 financial institution, co-brand, and affinity partners, First National Bank’s history in the partnership space spans over 42 years. As a Top 15 issuer of credit cards, First National Bank is committed to offering its customers quality products and superior service to help them to achieve their goals. First National Bank is a subsidiary of First National of Nebraska, Inc. First National of Nebraska has grown into the largest private banking company in the United States. First National and its affiliates have $18 billion in managed assets and 5,700 employee associates located in 35 states. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.
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 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and 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 www.mastercard.com. Follow us on Twitter: @mastercardnews.