Capital One and Amtrak Unite to Issue Amtrak Visa with Smartrak Rewards ; Alliance Highlights Amtrak s Commitment to Building Customer Value
Capital One and Amtrak Unite to Issue Amtrak Visa with Smartrak Rewards ; Alliance Highlights Amtrak s Commitment to Building Customer Value
FALLS CHURCH, Va., May 24 /PRNewswire/ -- Capital One Bank and Amtrak, the nation's passenger rail service, today announced their alliance to issue the Amtrak Visa with "Smartrak Rewards." The credit card is available today for consumers who want to add value to their travel experience. The alliance unites Capital One's technological and marketing expertise with Amtrak's rapidly growing customer base, which expanded by 4.5 percent last year, to provide a credit card for present and future Amtrak passengers. "As we continue to focus on adding value for our customers, we see this alliance with Capital One as a means to enhance the travel experience," said George D. Warrington, Amtrak's President and Chief Executive Officer. "We're changing the way people look at train travel. With Capital One, we can address our customers' needs for flexibility, time and savings by making it easy to apply and use the Amtrak Visa. Capital One is our partner of choice and forging such alliances is a critical element of Amtrak's strategic business plan to become a more customer-focused, commercially-oriented corporation." Capital One and Amtrak will offer a toll-free number, 1-877-ONE-TRAK, for customers to apply easily for their Amtrak Visa. Customers can also apply online at www.amtrak.com or pick up an application at any Amtrak station. In addition to the traditional Visa benefits, Amtrak Visa with "Smartrak Rewards" customers will receive exclusive benefits including: -- 1 point for every $1 spent on retail purchases -- 2 points for every $1 spent on Amtrak purchases -- Smartrak Rewards certificates are redeemable through travel agents or ticket counters and multiple certificates can be used on any purchase -- Every purchase is an entry in the Amtrak Smartrak Visa sweepstakes -- Four (4) winners will receive two (2) North America Rail Passes (from Amtrak and VIA, Rail Canada) for 30 days of coach travel to tour the United States and Canada by rail Amtrak Visa customers will benefit as soon as they activate their card with automatic entry into the sweepstakes. And, with as little as 2,500 points, Amtrak Visa cardholders will automatically receive a Smartrak Rewards certificate redeemable on their next Amtrak ticket. One of the world's most innovative financial services companies, Capital One is also well known for its relationships with Mercedes Benz Credit Corporation and World Championship Wrestling, a Time Warner Company. Capital One attributes the success of these alliances to its ability to strategically target tailored, value-added products to customers using its proprietary Information-Based Strategy. "Capital One is very excited about our opportunity to partner with Amtrak. Its history in developing customer relationships as the nation's passenger rail service is the perfect match for our experience as a customer-focused credit card issuer," said Nigel Morris, Capital One's President and Chief Operating Officer. "Our Information-Based Strategy enables us to put an Amtrak 'Smartrak Rewards' Visa credit card in the hands of more customers." Today under new leadership, Amtrak is turning the corner to become a successful business enterprise. In 1998, Amtrak passenger revenues surpassed $1 billion for the first time ever powered by the largest ridership increase in a decade, totaling more than 21 million intercity rail customers, and the best on-time performance in 13 years. As part of its turnaround, Amtrak is focusing on growing public and private business partnerships, improving and guaranteeing consistency and quality of service, introducing high-speed rail in the Northeast this year and developing other high-speed rail corridors nationwide. For more information about Amtrak, including schedules, fares and reservations visit Amtrak's Web site at www.amtrak.com. Headquartered in Falls Church, Virginia, Capital One Financial Corporation (www.CapitalOne.com) is a holding company whose principal subsidiaries, Capital One Bank and Capital One, F.S.B., offer consumer lending products. Capital One's subsidiaries collectively had 18.0 million customers and $17.4 billion in managed loans as of March 31, 1999. Capital One trades on the New York Stock Exchange under the symbol "COF" and was recently ranked #41 in Fortune's list of "Best Companies To Work For" and the #15 best performer in BusinessWeek's rating of the S&P 500. SOURCE Capital One Financial Corporation