CAMBRIDGE, Mass. (9/27/12)--Harvard University Employees CU competed with several national card issuers to earn the right to develop a MasterCard rewards card fo
Harvard University Employees CU is offering a new MasterCard rewards card designed for the Harvard Alumni Association. Gene Foley, Harvard Employees CU president, announced the rollout during a gala at the Charles Hotel in Cambridge. (Photo provided by Harvard University Employees CU)
r the Harvard Alumni Association.
The $409 million credit union will purchase the Harvard alumni portfolio from Barclay's Ban and develop a new alumni program.
The Harvard Alumni MasterCard includes no annual fee, no foreign transaction fees and no balance transfer fees. It provides unrestricted travel benefits and allows holders to select any flight, cruise or car rental without blackout dates.
PSCU has been chosen as the card processor for the new Harvard card.
"Our new partnership with the HAA has been a model of collaboration, with all parties working together flawlessly to achieve a common goal--to design a credit card program that combines unparalleled benefits and rewards, exceptional security and fraud protection, and sound financial principles," said Gene Foley, Harvard Employees CU president.
Cardholders under the current Barclay's program will be converted to the new credit union program in February.