Suntrust Mortgage is promoting Homebuyer Privileges through Genworth Financial. Borrowers who finance through Suntrust will receive discounts, rebates, and special offers from various vendors to help turn their new house into a home. Click here for more information.
Bank of America is partnering with Visa to test using smart phones as credit cards. The pilot program will run from September until the beginning of January in New York. Visa will supply small chips that users can install into their phones. The credit card transactions can be completed by simply waving the phone near the point-of-sale device Visa will supply to select stores. Click here for more information.
Fifth Third is offering a 36-month introductory rate of 3.74% APR on their Home Equity Flexline. After the promotional period, the rate will adjust to as low as 4.00% APR. A Fifth Third checking account with automatic payment is required to receive this HELOC promotion. Offer is available on new Fifth Third equity lines of credit only. Click here for more information.
Smartphone applications like Shopkick may be the answer for banks with reduced revenue from the new debit and credit card regulations. The Shopkick iPhone application lets customers earn reward points just by entering a participating store and could allow for a genuine mobile loyalty program. Click here for more information.
Bank of the West has launched an FDIC insured Market-Linked CD, the first in a series of CDs that will offer interest rates linked to the performance of equity, commodity, foreign exchange, or fixed income markets. Click here for more information.
Sovereign Bank is offering an introductory rate as low as 2.24% APR for the first six billing cycles on a home equity line of credit. After the promotional period, the rate will adjust to as low as Prime + 0.74% (currently 3.99% APR). To qualify for the advertised rate, borrowers must have a qualifying Sovereign account. Actual rates vary based on property location. Offer is available through 09.10.2010. Click here for more information.