Alon launches new credit card

"The launch is part of our strategy to create a synergy between the companies in our group," said David Wiessman, president of the Alon Group.

By AVI KRAWITZ
June 12, 2006 08:51
1 minute read.
diners you card 88 298

diners you card 88 298. (photo credit: Courtesy Photo)

 
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The Alon Group, which operates the Dor Alon services stations and Blue Square supermarkets, has teamed up with Diners Club International to launch a new credit card, linked to the Cal Active revolving credit program. The new Diners "YOU" card, scheduled to be released on Tuesday, represents the first time a major retail group has partnered with a credit card company to give its customers discounts for purchases made with the card at its stores, Dor Alon said Sunday. "The launch is part of our strategy to create a synergy between the companies in our group," said David Wiessman, president of the Alon Group. "It is a logical next step since over 70 percent of our companies' proceeds come from returning customers. The time has come to reward their loyalty." The card will offer discounts on purchases made at Alon companies including Mega stores, Super Center, Blue Center, KFC and Pizza Hut, as well as the Group's US interests such as 7-11 stores. Use of the card at Dor Alon gas stations will give customers a discount of 20 agorot per liter of gas. As a credit card, YOU will serve as a regular Diners Card, operated in Israel through Cal, and will include Cal Active revolving credit, which is not linked to subscriber's bank accounts. The credit can be repaid over a 36-month period. The launch comes three weeks before the deadline for setting ones overdraft facilities at the banks on July 1, and is another step in providing the Israeli consumer with alternative methods for obtaining additional credit. There are currently three companies offering revolving credit in Israel, rather than the more traditional "debit cards" issued by local banks, which require the credit balance to be withdrawn automatically every month. Leumi-card was the first to launch its "Multi" card in October 2004, followed by "Cal Active" and most recently the launch of Isracard's "More" card. Dor Alon has invested NIS 1.5 million in the YOU project and said it expects to have around 200,000 subscribers to the card within three years.

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