Bank of Oklahoma Introduces New Visa Card

By Carter, Kim | THE JOURNAL RECORD, May 27, 1987 | Go to article overview

Bank of Oklahoma Introduces New Visa Card


Carter, Kim, THE JOURNAL RECORD


Bank of Oklahoma was the first Oklahoma-owned institution to offer the new Premier VISA card introduced in April, extending customer credit lines to $5,000 and up in addition to offering features not available with the classic VISA card.

The Premier VISA, carrying a $36 annual membership fee, is equal to the American Express gold card and Gold Mastercard as a preferred rate card. It provides the holder with a credit line of $5,000 or more according to the creditworthiness of the client. By comparison, the classic VISA carries a line of credit from $500 to $2,000, based on creditworthiness of the client.

In April, Bank of Oklahoma mailed applications for the card to 60,000 Oklahomans, according to Julie Sullivan of the bank's marketing department. Cardholders will also be allowed 25-days to pay the entire statement balance in full before interest is charged.

The minimum required payment for the preferred rate card is lower than the classic at 3.5 percent or $50 paid on the outstanding balance. The preferred interest rate is 17.4 percent, lower than the 21 percent charged to classic VISA cardholders. . .

- Michael V. Ewy has been appointed senior vice president and to the board of directors of Choctaw State Bank.

Ewy was originally hired by Choctaw as a credit analyst. He replaced the former executive vice president, Curtis Fitzgerald, who resigned on May 1. . .

- John J. …

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Bank of Oklahoma Introduces New Visa Card
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