TROY, Mich. — Kmart has launched a private label credit card that offers interest-free financing during the 2004 holiday season as well as purchasing discounts throughout the year.
The Kmart Rewards card program is being managed by HSBC, which also handles private label credit card programs for Best Buy, Saks Fifth Avenue and Levitz Furniture. The card carries no annual fee. It will marketed through in-store promotions as well as print and online advertising beginning today.The card offers holders $10 off their first card purchase of $50 or more and a $10 reward for every $250 in purchases thereafter. Card-holders also will receive 90-day, same-as-cash financing on any purchase over $100 during the upcoming holiday season. In the future, Kmart will tailor promotional offers to card holders based on their purchasing patterns.“The Kmart Rewards credit card is an important tool in our efforts to retain and better serve our existing customers,” said Paul Guyardo, Kmart’s chief marketing officer.