April 17, 2008 By Seth Harbison

Regardless of whether you see it as a corporation going green or simply a corporation trying to save itself money, you can still win a hybrid vehicle or other “green” prize from Citi by switching to online account access in its EcoSweepstakes, which runs through May 14.

Cardholders receive entries for doing things that reduce the paperwork, including enrolling in and actually using online bill payment, choosing online statements, and other tasks associated with your account. The grand prize winner will get the choice of a hybrid car or a “green” home makeover. Other prizes include trips to the Lapa Rios EcoLodsge in Costa Rica and a year’s supply of organic, sustainably-harvested coffee.

To further its green ambitions, Citi will also plant a tree for each new paperless account established in April and May, via The Arbor Day Foundation.

April 7, 2008 By Justin McHenry

Discover Financial Services announced today its purchase of the Diners Club credit card brand from Citigroup for $165 million. The move will help Discover expand its footprint outside of the United States, where it has struggled to make headway and compete on an equal footing with the likes of Visa, MasterCard and American Express. Citigroup, for its part, raises some cash as it continues its attempt to right the ship after being stung in the subprime debacle.

Diners Club is accepted at over 8 million merchants in 185 countries, so Discover’s network instantly becomes international with the acquisition. While Discover says it will take two to three years to fully integrate Diners Club, in the end Discover credit cards will be accepted at all locations that accept Diners Club, and vice versa.

While it has sold the Diners Club brand, Citi will still issue Diners Club cards as a partner with Discover. Over the last few years, Discover has expanded from being simply a card issuer to being a “network” that processes payments in the same way that Visa and MasterCard do. The Diners Club acquisition allows Discover to broaden its processing network, but Discover will not be the issuer of new Diners Club cards. If that’s confusing, think of how natural the words Citi MasterCard sound, then think of Citi Diners Club Card in the same manner. Citi issues the card, Diners Club/Discover owns the processing network.

Discover’s purchase of Diners Club International is expected to close within 90 days.

April 7, 2007 by Liz Morris

Bank of America today launched the U.S. Olympic Team Worldpoints Visa Credit Card as part of its “U.S. Olympic Team Banking” package, which also includes Olympics-themed checks and check cards. You do not have to choose the whole “suite” of services, but can instead sign up for the credit card or other products independently.

The U.S. Olympic Team Visa offers Bank of America’s familiar Worldpoints rewards program, which awards points that can then be redeemed for travel, merchandise and other rewards. This new Visa will also offer Olympic Team merchandise and other Olympic-specific rewards. The card will benefit the U.S. Olympic Team as well, in that a percentage of card purchases goes toward supporting the Olympic athletes.

Bank of America is the official bank sponsor of the 2008 U.S. Olympic Team that will compete this summer in Beijing, China.

Click here to apply for the U.S. Olympic Team Worldpoints Visa.

April 2, 2008 By Justin McHenry

Anheuser-Busch has launched the Budweiser Rewards Visa Platinum Card, which will reward users with points toward Budweiser-themed merchandise but, alas, not beer.

The Budweiser Rewards Visa will offer three Specialty Rewards points for every $1 spent at Budshop.com and BudShop retail stores, on items in Budweiser consumer catalogs, on Anheuser-Busch brewery tours & gift shops, and at Anheuser-Busch parks including SeaWorld, Busch Gardens, and others. Cardholders will also earn one point for every $1 spent everywhere else. New cardholders will get a 1,000-point bonus when they make their first purchase with the card.

For every 2,500 points earned, cardholders get a $25 Anheuser-Busch Merchandise Rewards Gift Card, good toward items such as Budweiser apparel, bar items and more from Budshop.com and Budweiser consumer catalogs.

The Budweiser Rewards Visa Platinum is being issued in partnership with US Bank. Credit card application here: Budweiser Rewards Visa Platinum Card

WASHINGTON – President George W. Bush and Vice President Richard B. Cheney announced today their intention to acquire the United States Judicial Branch for $35 million, or $2 per share, and announced that the Federal Reserve would provide up to $35 million in guaranteed financing should the Judicial Branch prove to be worth less.

“My time’s running out, but this gives us a chance to still make a little noise,” said Bush. “Lame duck, my ass.”

Dick Cheney was almost as gleeful. “And don’t expect us to pull a JPMorgan Chase (JPM) / Bear Stearns (BSC) deal and up the offer, either,” said the vice president. “Our shareholders have spent plenty over the last eight years to acquire a majority stake in the judicial branch. To offer anything more would be an insult to them. This is their just desserts.”

Sources say that Bush and Cheney had explored acquiring the Legislative Branch, but that House rabble-rouser Dennis Kucinich (D-Ohio) refused to be bought for anything less than $3.50. Senator Joe Lieberman was said to have been enthusiastic about the deal, trying to convince his fellow senators that Bush-Cheney’s offer was actually a premium to the senators’ true worth of $1.75 each. When the deal for the House and Senate fell through, the president and vice president returned to the lower hanging fruit of the Judiciary.

Most analysts applauded the deal, with some speculating that Bush and/or Cheney may envision themselves sitting on the Supreme Court should the opportunity arise to throw a future presidential election the Republicans’ way. In an interview, Bush chuckled at the notion.

“With a little more foresight, I never woulda made John Roberts chief justice,” said Bush. ”He’s a little younger than me. Well, hell, Ginsburg can’t last forever. I just might get my shot. Don’t know as I can say the same for Dick, though… with that jumpy ticker and all.”

Bush mentioned that the Judicial Branch purchase would all be put on his Judiciary Rewards Visa, a move that Justin McHenry, Research Director at IndexCreditCards.com, a site that compares credit cards and tracks the industry, sees as shrewd.

“The Judiciary Rewards Visa is definitely a niche credit card, “said McHenry. “But when you consider that it offers 5% cash back on all buying of judges, along with 1% back on all other purchases, it’s conceivable that President Bush could actually receive more in rewards than the Judicial Branch ultimately turns out to be worth.”

Bush thanked the Federal Reserve for their backup in making the deal happen, “You’re doing a helluva job, Bernanke-ee. Dang, that’s hard to say. Gonna have to come up with a new nickname for Bennie.”