As part of the celebrations, the millionth card customer and the banker who sold the card received 250,000 Wachovia possibilities reward points and a $500 Visa gift card, respectively, to commemorate the landmark moment in Wachovia Card Services’ short history.
The portfolio has a combination of consumer and wholesale customers, but consist largely of existing Wachovia customers who have other relationships with the bank.
Since re-entering the credit card business in July 2006, Wachovia has launched a whole variety of cards including consumer cards, commercial cards and more recently a business credit card product targeting companies with annual revenues of up to $15 million. The business credit card features a unique rewards program called Wachovia Possibilities that allows customers to combine business and personal rewards with credit and debit rewards to reach redemption targets faster.
One million card customers is an incredible milestone but also just the beginning, said Patti Newcomer-Simmons, director of marketing for Wachovia Card Services. With 13 million Wachovia customers and our commitment to customer satisfaction, there is a lot of opportunity for growth.
