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September 10, 2006

Saks Fifth Avenue to Offer World Elite MasterCard
Saks Fifth Avenue announced Thursday its plan to launch its frst co-branded credit card, the Saks Fifth Avenue World Elite MasterCard. Saks will be the first to offer this new type of MasterCard geared toward affluent customers. MasterCard launched the World Elite option, which targets those with annual household incomes greater than $250,000, simultaneously with the announcement of Saks as its first partner.

Customers who qualify for the new card will be automatically enrolled in the SaksFirst loyalty program, which normally requires a $1,000 spend, and will get up to 6% back on Saks Fifth Avenue purchases and 1% back on all other purchases. Points are converted automatically to Saks gift cards. In addition to these benefits, the World Elite MasterCard comes with various travel perks.

The Saks Fifth Avenue World Elite MasterCard will be issued by HSBC and will begin being issued on September 13.

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