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US credit card issuer Providian has launched two new credit card programmes targeted at 'Middle America' as part of a wider strategy to reposition itself away from the more risky sub-prime market and improve the company's damaged reputation amongst consumers.
The new reward programme, entitled 'Providian Real Rewards', will allow cardholders to earn points via purchases, maintaining balances and making payments on time. In a major enhancement to the standard rewards system, the points will also be able to be redeemed to receive account-related benefits such as lowering APRs or earning credits to cover late or over-limit fees.
The second offering - called 'Providian Real Information' - will allow customers free online access to their FICO credit score and a supporting credit information summary. Providian will also offer a 'score simulator' to see how certain behaviours, such as...