Citibank Cobrands with Travelocity

Citibank will be issuing a new co-branded MasterCard product with Travelocity, the Ft. Worth, Texas-based online provider of travel services. Travelocity has more than 26 million registered members. The new card will be called the Travelocity.com World MasterCard. Like other co-branded products, the new MasterCard is intended to reward and encourage repeat visits and purchases at the Travelocity website. Cardholders accumulate points with usage which can be used to purchase anything the company sells on its website, including airline tickets, hotel rooms, rental cars, and travel-related products and services. Cardholders will receive 4,000 bonus points for signing up and earn one point per dollar spent. For every 8,000 points accumulated cardholders will receive a $100 gift certificate good towards the purchase of any product or service sold at the Travelocity website. Citibank will charge a $50 annual fee. The card will carry a variable interest rate initially set at 17.4%.

Travelocity spokesman Michael Altomari told Cardline that "We wanted to distinguish ourselves from the crowd in order to retain existing customers and to attract new ones. . . This way we are seen as a marketing transaction company, not just a firm that books travel."