Sovereign Credit Card for Students Rated Best-in-Class by Money Magazine4 March 2006
Sovereign Bank's credit card for students emerged as the best-in-class when Money Magazine recently canvassed industry experts. The magazine turned to the experts to identify the best cards in seven categories, ranging from "If your kid needs a card" to "If you carry a balance."
Money quoted an industry source as saying that the average APR on student cards is close to 15 percent, but that the Sovereign Bank MasterCard and Visa Student credit card charge a fixed 9.9 percent and carry no annual fee. The article advises that students should look at interest rates, fees and penalties when selecting a card and should not focus on reward points.
"We're extremely pleased to see that Sovereign's Student credit card is being recognized for the tremendous value it provides to students," said Vickie Jacobs, vice president of Marketing and Business Development. "Being best-in-class is something we're quite proud about, but most importantly it's the students who benefit most from our product."
About Sovereign Bank
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent company of Sovereign Bank, a $63 billion financial institution headquartered in Wyomissing, Pa., with more than 650 community banking offices, over 1,000 ATMs and approximately 10,000 team members with principal markets in the Northeast United States. Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, trust and wealth management and insurance. Sovereign is the 18th largest banking institution in the United States. For more information on Sovereign Bank, visit http://www.sovereignbank.com or call 1-877-SOV-BANK.
Source: prnewswire
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