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MCAP Partners with MBNA Canada Bank
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Offers unique loyalty card program for travel, gifts or to reduce your
mortgage
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VANCOUVER, Jan. 9 / -- MCAP and MBNA Canada Bank announced today that
they have entered into a partnership to offer a new loyalty credit card
program to consumers.
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"We believe that this partnership has great growth potential," said Will
Curley, Business Development Executive, MBNA. "It's a great product for
consumers, giving them maximum flexibility and value for the points they earn.
Not only can the MCAP WorldPoints(R) be used for any kind of travel, be it air
or land transportation, accommodations, all inclusive packages, etc., or for
purchasing great merchandise, but now consumers can earn points to use to
reduce their mortgage."
The new MCAP MasterCard with WorldPoints(R) credit card includes the many
great features and benefits of the WorldPoints program customers earn one
point for each dollar in retail purchases, receive 1,000 bonus points with
their first retail purchase and an additional 1,000 points on every
anniversary. Customers can redeem WorldPoints(R) for travel, a whole host of
great merchandise and gift certificates. Unique to the new MCAP MasterCard
with WorldPoints(R), customers can redeem points to reduce their mortgage.
"MCAP's goal is to enhance our customers home ownership experience",
explains John Thompson, Senior Vice-President of Product Development and
Strategic Alliances at MCAP. "This credit card offering is a value added
product with features which are uniquely positioned to benefit home owners
through exclusive offerings on home renovation materials as well as the option
to redeem WorldPoints to pay down their mortgage. This is the ultimate
homeowners credit card."
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About MBNA
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MBNA Canada Bank, a subsidiary of Bank of America Corporation, is the
leading provider of co-branded and affinity credit card programs in Canada,
and the second largest MasterCard issuer in the country. MBNA credit cards
and related products and services are endorsed by nearly 500 Canadian
organizations. MBNA provides financial products and services throughout
Canada from its headquarters in Ottawa.
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About MCAP
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MCAP is Canada's largest independent mortgage and equipment finance
company with over billion in assets under administration. Operating in
four key lines of business: residential mortgages, commercial mortgages,
construction loans and equipment financing, the company generates combined new
asset production of over billion. With over 130,000 retail customers in
Canada, MCAP provides innovative home financing solutions through professional
mortgage brokers and offers related value added products and services for
Canadian homeowners.
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