Onyx Card
Jul 9, 2009 | 4:52 pm
#1
Original Poster
Join Date: Apr 2005
Posts: 189
Onyx Card
Another new high-end card:
Following on the heels of the new "Chase Sapphire" card, TNB Card Services has unveiled the "Onyx MasterCard." Texas-based Texas Dow Employees Credit Union has teamed with TNB to offer the new credit card to its high end members. The "Onyx MasterCard" blends revolving and non-revolving credit, targeting members with credit scores of 720 and higher. A cardholder with a $10,000 credit limit can access up to three times the line of credit, for purchasing power up to $30,000. The first $10,000 is on a revolving limit, like a traditional credit card, in which the balance due can be paid in full each month, or revolve with interest. The remaining balance, or non-revolving credit, is due in full at the end of each billing cycle. In addition, cardholders earn up to 2% cash back for all purchases, including non-revolving transactions. TDECU has 120,000 members and more than $1.4 billion in assets.
Following on the heels of the new "Chase Sapphire" card, TNB Card Services has unveiled the "Onyx MasterCard." Texas-based Texas Dow Employees Credit Union has teamed with TNB to offer the new credit card to its high end members. The "Onyx MasterCard" blends revolving and non-revolving credit, targeting members with credit scores of 720 and higher. A cardholder with a $10,000 credit limit can access up to three times the line of credit, for purchasing power up to $30,000. The first $10,000 is on a revolving limit, like a traditional credit card, in which the balance due can be paid in full each month, or revolve with interest. The remaining balance, or non-revolving credit, is due in full at the end of each billing cycle. In addition, cardholders earn up to 2% cash back for all purchases, including non-revolving transactions. TDECU has 120,000 members and more than $1.4 billion in assets.
Jul 9, 2009 | 8:30 pm
#2
FlyerTalk Evangelist
Join Date: Aug 2001
Programs: DL GM, AA Gold, Hilton Diamond, Bonvoy Plat
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Original article: http://www.cutimes.com/News/2009/7/P...Borrowers.aspx
Onyx Link: https://www.tdecu.org/Loans/Credit-C...edit-Card.html
Onyx Link: https://www.tdecu.org/Loans/Credit-C...edit-Card.html
Jul 10, 2009 | 5:49 am
#3
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
Join Date: Jun 2003
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Posts: 51,864
In what sense is this a high-end card or innovative product? Up to 2% rebate is about the same as one airline mile per doillar, and the ability to exceed the revolving credit limit by a factor of two is not materially different than VISA Signature or Mastercard World cards which offer a revolving line plus no preset limit.