ITT Sheraton And American Express Launch Co-Branded Credit Card
NEW YORK, June 14 - Continuing its strategy to offer consumers a wide array of credit and charge card products, American Express
The ITT Sheraton ClubMiles Card from American Express is a revolving credit card with a low introductory interest rate and no annual fee. It offers valuable rewards to its Card members, including:
One ClubMile for every eligible dollar charged with the Card for purchases at any merchant who accepts the American Express(R) Card. ClubMiles are automatically deposited in the Cardmember's ITT Sheraton Club International (ITT SCI) ClubMiles account.
A complimentary and automatic enrollment in, or upgrade to, Gold membership status in the ITT SCI frequent guest program for one year.
ITT SCI Gold members will receive four ClubMiles for every eligible dollar charged with the Card at participating ITT Sheraton hotels and resorts – that's 1 ClubMile for using the Card, plus 3 ClubMiles automatically earned as an ITT SCI Gold member. Cardmembers who do not renew their ITT SCI Gold membership (for $25) will earn 3 ClubMiles for every dollar spent on the Card at ITT Sheraton properties as an ITT SCI Basic member.
A 1,000 ClubMile bonus upon the first charge with the Card.
One certificate each year for 50% off regular/rack rates (for one stay of up to five nights) at participating ITT Sheraton hotels and resorts each year. Plus, one certificate for one night's confirmed upgrade to Club level accommodations upon enrollment.
ITT Sheraton Club International is the most global frequent guest program in the industry, with nearly 400 participating hotels and resorts in 50 countries. The program offers two levels of membership – a free, basic level, and a VIP Gold level which earns members additional benefits including a 50% bonus on ClubMiles earned and a guaranteed 4:00 p.m. late check-out. ClubMiles are earned for virtually every dollar spent in a participating Sheraton hotel at any rate, and can be redeemed for room upgrades, free stays, airline tickets, car rentals and more. Travelers can sign up for ITT SCI membership by calling 1-800-247-CLUB from the U.S. or Canada.
"The introduction of the ITT Sheraton ClubMiles Card from American Express continues our strategy of enhancing ITT Sheraton Club International to offer travelers the richest frequent guest program in the industry," said David Van Kalsbeek, senior vice president, ITT Sheraton Corporation, and director of marketing and strategic planning. "This new card allows our members to earn free travel even faster than before," he added.
Mary Miller, senior vice president of co-branding at American Express Travel Related Services Company, Inc. said, "We are very pleased to welcome ITT Sheraton into the growing family of partners that are issuing co-branded cards with American Express. Consumers will greatly enjoy how quickly they can accumulate ClubMiles, which can be redeemed for the most valuable hotel stays, as well as airline and car rental awards."
How the ITT Sheraton ClubMiles Card Works
The ITT Sheraton ClubMiles Card from American Express, issued by American Express Centurion Bank, is a revolving credit card with an 8.9% introductory interest rate for the first six months of Card membership. Thereafter, the interest rate for purchases is Prime plus 9.9%, which would make the Card's APR 18.15% today. The interest rate for cash advances and for Cardmembers not in good standing is Prime plus 12.9%, which would result today in an APR of 21.15%.
There is no annual fee for the ITT Sheraton ClubMiles Card, and additional Cards are complimentary. Individuals can apply for the ITT Sheraton ClubMiles Card by calling 1-800-4OPTIMA.
Cardmembers earn ClubMiles every time they use the ITT Sheraton ClubMiles Card to make a purchase at any establishment that accepts the American Express Card. ClubMiles will be updated regularly, and posted to the Cardmember's ITT Sheraton ClubMiles account. These ClubMiles, like any other ClubMiles accrued through the SCI program, can be redeemed for free hotel stays, free car rentals, and free flights or airline ticket upgrades.
Cash advances and balance transfers from other credit card products, as well as the transfer of any portion of a balance from any other American Express Card to the ITT Sheraton ClubMiles Card will not be eligible for ClubMiles accrual.
The new Card will be marketed through direct mail, beginning mid- June, 1996.
ITT Sheraton will continue to participate in the American Express Membership Rewards(SM) program, which allows American Express Cardmembers to earn one program point for every dollar charged on an enrolled American Express Card. Cardmembers can redeem program points for travel, retail merchandise, unique experiences and gift certificates. Charges made with the ITT Sheraton ClubMiles Card will not be eligible for Membership Rewards points accrual, however.
ITT Sheraton Corporation, a wholly owned subsidiary of ITT Corporation ITT, is a worldwide hospitality network focused on quality that owns, manages, leases and franchises nearly 420 luxury, upscale and midscale hotels in 62 countries. ITT Sheraton's revenues in 1995 were more than $4 billion.
Current American Express research shows that based on the way American Express Cardmembers use their American Express Cards, Cardmembers can put 88 percent of their plastic spending on American Express. A fast growing number of merchants worldwide welcome American Express, with a new establishment accepting the Card every two minutes.
American Express Travel Related Services Company, Inc., is a wholly owned subsidiary of the American Express Company – a diversified worldwide travel and financial services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking.
Lisa Dickason
Starwood Hotels & Resorts Worldwide, Inc
+1 781 741-8869
ITT Sheraton
