Stockback relaunches with new rebate credit card
The microinvesting technology company, Vesdia Corporation, has announced the relaunch of the Stockback 'consumer stock ownership' loyalty rewards programme.
The programme was originally launched in June 2000 to help consumers build personal savings by earning shopping rebates of up to 25% at 75 merchant partners, or through the use of a 1% rebate credit card. The newly enhanced programme, in addition to a complete revision of the Stockback website, features nearly 500 merchant partners and a no-annual-fee credit card that awards up to a 2% rebate at more than 20 million locations worldwide.
Vesdia has also expanded the number of investment options available to programme participants. Traditionally, Stockback members were only able to direct their rebates into mutual funds managed by Merrill Lynch. But with the relaunch of the programme, members can now direct their rebates into almost any mutual fund or brokerage account, or simply receive them in the form of a cheque.
"The original Stockback programme was a revolutionary advance in the microinvesting concept," explained Peter Davis, president and CEO for Vesdia Corporation. "Today I believe we have taken that idea to the next level with a greatly expanded programme and a competitive rebate credit card."
"Putting money aside toward important financial goals is a difficult problem faced by most people," added Jordan Goodman, an eighteen-year veteran of Money Magazine, and author of the personal finance guide, Everyone's Money Book. "While Stockback doesn't alleviate the need for traditional contributions toward financial goals, it does help people become more disciplined investors and take advantage of dollar cost averaging."