MCLEAN, Va. and
DETROIT, Feb. 10, 2015 /PRNewswire/ -- Capital One
Financial Corporation (NYSE: COF) and General Motors (NYSE: GM)
today announced an expansion of their co-brand card partnership
with the launch of the BuyPower Business Card from Capital One.
This card, specially designed for small business owners, delivers a
powerful earnings structure, including 5 percent earnings on GM
parts, accessories and services at authorized GM dealers; 3 percent
earnings at gas stations, restaurants and office supply stores; and
1 percent earnings on all other purchases. This product replaces
the existing GM Business Card issued by Chase Bank USA, N.A. Capital One will begin accepting
applications for this product later this year.
"We have one of the strongest lineups of cars, trucks, SUVs and
crossovers in our history, so it's a great time to step up our game
with our small business customers," said Chuck Thomson, General Manager, GM Retail Sales
and Marketing Support. "The card is designed to address small
businesses' needs and help them plan for the future."
"Following the success of the BuyPower Card launch in 2014, we
decided to expand the BuyPower brand to serve small business
owners," said Jimmy Cannon,
Executive Vice President, Card Partnerships, Capital One.
"Small business owners will now be able to benefit from a
one-of-a-kind card that will help them manage business expenses and
offers a unique earnings program that allows them to save toward
new Chevrolet, Buick, GMC or Cadillac vehicles. The expansion of
this program is a compelling model for growth that demonstrates our
commitment to building long-term strategic relationships with great
corporate partners like GM."
Features of the new BuyPower Business Card from Capital One
include:
- 5 percent earnings on GM parts, accessories and service at
authorized GM dealers; 3 percent earnings at gas stations,
restaurants and office supply stores; and 1 percent earnings on all
other
purchases
- No limits on the amount of earnings a business can
accumulate
- No expiration of earnings
- No limit on the amount of earnings that can be redeemed toward
the purchase or lease of a new Chevrolet, Buick, GMC or Cadillac
vehicle
- No annual fee
- Ability to combine earnings on top of current GM offers and
incentives, as well as GM's Supplier Discount
- Access to the World MasterCard benefits, including concierge
services, emergency card replacement, lost luggage support, travel
accident insurance, travel assistance service and roadside
assistance.
To learn more about the new BuyPower Business Card from Capital
One, visit BuyPowerBusinessCard.com.
About Capital One
Capital One Financial
Corporation (www.capitalone.com) is a financial holding company
whose subsidiaries, which include Capital One, N.A., and Capital
One Bank (USA), N. A., had
$205.5 billion in deposits and
$308.9 billion in total assets as of
December 31, 2014. Headquartered in
McLean, Virginia, Capital One
offers a broad spectrum of financial products and services to
consumers, small businesses and commercial clients through a
variety of channels. Capital One, N.A. has branches primarily in
New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company,
Capital One trades on the New York Stock Exchange under the symbol
"COF" and is included in the S&P 100 index.
About General Motors Co.
General Motors Co. (NYSE:GM,
TSX: GMM) and its partners produce vehicles in 30 countries, and
the company has leadership positions in the world's largest and
fastest-growing automotive markets. GM, its subsidiaries and
joint venture entities sell vehicles under the Chevrolet, Cadillac,
Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information
on the company and its subsidiaries, including OnStar, a global
leader in vehicle safety, security and information services, can be
found at http://www.gm.com.
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SOURCE Capital One Financial Corporation