Capital One and Sony Announce New Partnership
Sony Corporation of America - 09/15/2010
Capital One Financial Corporation (NYSE: COF) and Sony Corporation of America (SCA) today announced the launch of the new Sony Card from Capital One (www.capitalone.com). This versatile new rewards credit card gives consumers a variety of opportunities to earn and redeem Sony Reward Points.
This new alliance between Sony and Capital One was designed specifically for Sony customers, who can now earn rewards points faster on the purchase of Sony products, movie tickets and restaurant meals and also earn points for all other purchases including groceries. Sony Card customers can also earn reward points as Sony Rewards members by participating in online games and activities at www.sonyrewards.com.
"Partnerships with iconic brands such as Sony are very valuable to Capital One and offer tremendous growth opportunities in the card business," said Jim Banta, Managing Vice President of Card Partnerships at Capital One. "We are proud to partner with Sony and offer their customers a rich rewards experience with multiple opportunities to earn and redeem points."
The Sony Card, originally launched in 1998 has a strong appeal and popularity amongst populations that love entertainment and the Sony brand. Current Sony Card customers will retain all of their previously earned points and will be eligible to transition to the new upgraded rewards program, which enables them to earn valuable rewards points even quicker. Additionally, Sony Card customers will continue to have access to Visa benefits such as travel accident insurance, concierge services, preferred access to popular entertainment, sporting and dining events and special offers from leading hotels and retailers, among others.
"Sony has many loyal customers, and the new Sony Card is a way to make their spending on Sony products and entertainment experiences even more valuable," said Steven Fuld, Senior Vice President & Managing Director, Card Marketing and Services Company, Sony Corporation of America. "We are very excited to partner with Capital One, known for their innovative marketing strategies and analytical expertise in the card industry. Moving forward, we will expand the Sony Card program to include a wide range of new products and services tailored specifically for all of our customers -- from PlayStation gamers to Wheel of Fortune fans."
Sony Card Rewards
The new Sony Card has an attractive point structure and enables cardholders to earn rewards even faster. The new point structure is as follows:
-- 5 points per $1 spent on Sony purchases at Sony stores, Sony.com and Sony authorized retailers -- 3 points per $1 spent on all dining out and movies, including online movie rentals -- 1 point per $1 spent on everyday purchases, like groceries and gasoline
Additionally, Sony Card customers will benefit from PointsPlus, a program exclusive to Sony Rewards members. This program enables customers to earn extra points when they shop at specific retailers, including AMC Theaters, Old Navy, K-mart, Hotels.com, Drugstore.com, GameStop, Best Buy and Sears among others. The complete list of retailers is available at www.sonyrewards.com
Sony Card customers can also earn additional points by visiting www.sonyrewards.com and participating in the following activities:
-- Solving online puzzles as members of the Wheel Watchers Club, the Sony Pictures Television Club or the Jeopardy Premier Club -- Playing specific online games -- Registering Sony products -- Participating in polls/surveys -- Creating and updating a personal wish list Redeeming Points
Sony Card customers can redeem their rewards points in retail stores and through the online Sony Rewards catalog (www.sonycard.com), which features the latest Sony electronics, games, movies and music, plus gift cards and more. Cardholders may also redeem points via phone by calling 877-718-SONY (7669).
For additional information about the new Sony Card, visit www.sonyrewards.com or www.capitalone.com
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $117.3 billion in deposits and $197.5 billion in total assets outstanding as of June 30, 2010. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.
About Sony Corporation of America
Sony Corporation of America, based in New York, NY, is the U.S. subsidiary of Sony Corporation, headquartered in Tokyo, Japan. Sony is a leading manufacturer of audio, video, communications, and information technology products for the consumer and professional markets. Its motion picture, television, computer entertainment, music and online businesses make Sony one of the most comprehensive entertainment and technology companies in the world. Sony's principal U.S. businesses include Sony Electronics Inc., Sony Computer Entertainment America LLC, Sony Pictures Entertainment Inc., and Sony Music Entertainment. Sony recorded consolidated annual sales of approximately $78 billion for the fiscal year ended March 31, 2010, and it employs 167,900 people worldwide.
First Call Analyst:
SOURCE: Sony Corporation of America
CONTACT: Lisa Gephardt, Sony Corporation of America, +1-212-833-6826,
Lisa_gephardt@sonyusa.com; or Sukhi Sahni, Capital One, +1-703-720-2390,
Web Site: http://www.sony.com/