Credit Card Rewards Helps Cardmembers Pay Down Their Mortgages Faster

According to a recent survey¹ of more than 2,000 customers of Countrywide Rewards^(SM) Visa^® Card, 71 percent of respondents said they have saved money on their mortgage, or plan to use the principal reduction option, by using the card’s distinctive rewards feature. The survey was conducted by Countrywide Bank, FSB.

Countrywide Rewards^(SM) Visa^® Card was launched in February 2007 with First USA. The Countrywide rewards credit card enables cardmembers to earn one point for every dollar spent on purchases and interest, with no point cap. Once cardmembers earn 2,500 points they can redeem them for a $50 payment applicable to any outstanding Countrywide mortgage principal balance, not just their own Countrywide mortgage. This means that cardmembers can apply the rewards towards a friend or family member’s Countrywide mortgage².

Countrywide Rewards Credit Card: Key Survey Findings

• Customers using the principal reduction reward feature are significantly more satisfied with the card than those using the other reward features available.
• Nearly half of Countrywide Rewards(SM) Visa(R) cardmembers who have a Countrywide mortgage indicated they are more likely to keep
• Countrywide as a mortgage provider because of the card.
• More than one-third of customers closed out a previously held credit card after receiving the card.

Want to learn more about Countrywide Rewards Credit Card?

• To apply for Countrywide Rewards(SM) Visa® Card, call +1-800-339-8216 and mention code 60DD or fill out a form and apply online
• For more information about rewards cards and additional details about Countrywide Rewards(SM) Visa® Card, read the Countrywide Rewards Card section.

^1.Survey Methodology: This survey was conducted online within the United States by Countrywide, between September 13 and 24, 2007 among 2,061 adults (aged 18 years and older).

^2.Cardmembers earn 1 point for each $1 of net purchases and 1 point for each $1 of interest. Cardmembers may receive double rewards when applying earned points to pay down the principal on an outstanding Countrywide mortgage. For every 2,500 points earned, cardmembers may receive a $50 payment to apply to the principal balance of a Countrywide mortgage. Points cannot be earned on balance transfers, cash advances, any checks that are used to access your account, travelers checks, unauthorized or fraudulent charges, or fees of any kind, including fees for products that protect or insure the balances of your account. There is no maximum number of points that a cardmembers can accumulate in the program. See Rewards Program Rules and Regulations, which will be mailed after the account is established.