Magazine article American Banker

SunTrust Takes on MBNA in Race for Stock Car Fans, Issuing Daytona USA Card

Magazine article American Banker

SunTrust Takes on MBNA in Race for Stock Car Fans, Issuing Daytona USA Card

Article excerpt

A new credit card for race car enthusiasts has started along the track. The Daytona USA MasterCard is being issued by SunTrust BankCard, Orlando, comarketed with Daytona USA, a new motor sports entertainment center located on the grounds of the Daytona International Speedway.

The card competes against MBNA Corp.'s Nascar MasterCard program, which has attracted 350,000 cardholders since it left the starting line in 1993. "Stock car race fans are very loyal consumers and very brand conscious," said Edward Newell Jr., SunTrust BankCard's senior vice president in charge of marketing for east central Florida.

The Daytona USA card has no annual fee, and its introductory rate of 7.9% jumps to prime plus 8.9% after five months.

The bank said rebates and rewards are being worked out but should be fine-tuned by the end of the year.

The Nascar MasterCard, a no-fee affinity card with an interest rate of prime plus 8.9%, is marketed to the 50,000 members of the National Association for Stock Car Auto Racing and to 5.3 million people who spend $1 billion annually on racing tickets and merchandise.

Mr. Newell said the Daytona USA cobranded card has been advertised in local papers and that he expects the card will have a strong regional appeal. …

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