Kmart Launches Rewards Card

Troy Mich., Kmart Holding Corp. today announced the launch of the Kmart Rewards credit card. The new credit-card program is being managed by HSBC—North America's retail-services business. The card offers $10 off the first card purchase of $50 or more and a $10 reward for every $250 in account purchases thereafter. Customers will also be offered 90 days, same-as-cash financing on any purchase over $100 during the 2004 holiday season. “The Kmart Rewards credit card is an important tool in our efforts to retain and better serve our existing customers," said Paul Guyardo, chief marketing officer of Kmart. "The Rewards card will provide valuable benefits and increased spending power both in our stores and on line, just in time for the holiday season.”