LendingTree Launches Win Card Exclusively for LendingTree Members

Rhea-AI Summary

LendingTree has launched the Win Card, its first branded credit card created in partnership with Upgrade. The card offers zero annual fees and allows cardholders to earn 2% cash back on all purchases. Designed to promote healthy financial habits, the card rewards responsible credit use and helps improve credit scores. The Win Card is part of LendingTree's ongoing mission to empower consumers financially, and it integrates with the LendingTree app for easy tracking. The initial offering is limited to select LendingTree members, with a waitlist available for broader access.

Positive

• Launch of Win Card offering 2% cash back on all purchases.
• No annual fees, promoting responsible credit behavior.
• Integration with the LendingTree app enhances user experience.

Negative

• None.

More Linda, More rewards, Less Hassle. Win with a New Kind of Card

CHARLOTTE, N.C., Feb. 27, 2023 /PRNewswire/ -- LendingTree®, one of the nation's largest, most experienced financial marketplaces for loans, credit cards, and insurance, today announced the launch of its all-new, LendingTree Win Card, the company's first foray into the branded card space, in partnership with Fintech company Upgrade. Designed by LendingTree's team of financial experts, the Win Card leverages Upgrade's unique card structure, offering the flexibility and convenience of a credit card with the predictability and simplicity of a personal loan. In addition to zero annual fees, cardholders have the ability to earn 2% cash back on all purchase categories. With more rewards and less hassle, the Win Card is not your average credit card.

Additionally, LendingTree will bring back the comedic genius of Molly Shannon as Linda, the cheeky, helpful and opinionated character who first appeared as the LendingTree brand relaunched in the summer of 2022 via an omni-channel campaign. Linda won the hearts and minds of Americans through her effervescent personality and penchant for helping consumers win financially by finding the best loan, credit card or insurance offering. This time, Linda will be introducing the world to the winning features of LendingTree's latest offering, the Win Card.

The LendingTree Win Card encourages responsible credit behavior through redemption of cash rewards and a clear payoff schedule with predictable payments. As healthy financial habits are grown, the amount of available credit will increase when cardholders improve their credit score by 20 points or more and meet other credit criteria.

"There are credit cards, and then there's the Win Card," said Doug Lebda, founder and CEO of LendingTree. "In July, we underscored our commitment to helping our customers win financially, and this is the next step in a multi-year evolution. The Win Card takes the guesswork out of rewards, without any annual fees, while encouraging financial progress. What makes the Win Card especially unique is that it offers 2% cash back on everything, even to cardholders who have yet to earn excellent credit. And the features of the LendingTree Win Card are structured in a way to help you avoid the credit card trap, giving you the power to win."

When using a traditional credit card, consumers are often stuck in a never-ending, high-interest payoff cycle. A recent LendingTree survey finds that two out of three cardholders (65%) have carried a balance on their card, and 46% of these cardholders say it will take them at least a year to pay off that debt. Only 35% say they always pay the balance in-full every billing cycle. With redemption of up to 2% cashback rewards, the Win Card makes it easier to win financially by offering more rewards with less hassle.

With easy pre-qualification through customers' LendingTree accounts, the card initially offers unrestricted 1% cash back rewards with zero annual fees. Cardholders can double those rewards to 2% on everything by enrolling in payments and simply logging in to their LendingTree account once per month where they can monitor their free monthly credit score. The Win Card integrates seamlessly with the LendingTree app and gives cardholders a streamlined experience where they can easily track rewards and stay up to date on card balances to build healthy credit habits. In addition to offering free credit monitoring and savings recommendations using real-time data, the LendingTree app offers advice on smart money management strategies to guide Win Cardholders towards a stronger financial future.

"We're thrilled to partner with LendingTree to help more consumers avoid the pitfalls of revolving credit card balances," said Renaud Laplanche, CEO and co-founder of Upgrade. "The LendingTree Win Card is a great example of how a credit card can actually better your financial health and create healthier financial habits."

As part of this first phase of the Win Card launch, LendingTree will be extending an exclusive invitation to a select, limited number of anonymized LendingTree members to sign up for the Win Card through their LendingTree account. For those not selected during the private beta launch but are interested in applying for the Win Card, LendingTree has opened a waitlist for first-hand details on when the card is available for application. To learn more about the Win Card and join the waitlist, please visit https://www.lendingtree.com/lp/win.html. With more rewards and less hassle, win with a new kind of card.

About LendingTree, Inc.

LendingTree (NASDAQ: TREE) is one of the nation's largest, most experienced online financial platforms, created to give consumers the power to win financially. LendingTree provides customers with access to the best offers on loans, credit cards, insurance and more through its network of over 600 financial partners. Since its founding, LendingTree has helped over 120 million customers obtain financing, save money, and improve their financial and credit health in their personal journeys. With a portfolio of innovative products and tools and personalized financial recommendations, LendingTree helps customers achieve everyday financial wins. LendingTree, Inc. is headquartered in Charlotte, NC. For more information, please visit www.lendingtree.com.

About Upgrade

Upgrade has delivered over $21 billion in affordable and responsible credit to everyday consumers through cards and loans since its inception in 2017. Upgrade was ranked #1 in the Financial Times' list of Fastest Growing Companies in the Americas in 2021. The company is headquartered in San Francisco, California, with an operations center in Phoenix, Arizona, a technology center in Montreal, Canada, and a regional office in Atlanta, Georgia. Upgrade is a financial technology company, not a bank. Banking services are provided by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. Loans and credit lines are issued by Cross River Bank and/or Blue Ridge Bank, a nationally chartered commercial bank, Member FDIC. Upgrade Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Rewards associated with the LendingTree Win Card, when applicable, are provided by Upgrade, Inc. More information is available at: https://www.upgrade.com.

Media Contact: Megan Greuling, megan.greuling@lendingtree.com

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SOURCE LendingTree, Inc.

FAQ

What is the LendingTree Win Card?

The LendingTree Win Card is a new credit card offering by LendingTree providing 2% cash back on all purchases with zero annual fees.

When was the Win Card launched?

The Win Card was launched on February 27, 2023.

What are the benefits of the LendingTree Win Card?

Benefits include 2% cash back on all purchases, no annual fees, and a focus on promoting responsible credit use.

How can I apply for the LendingTree Win Card?

Interested individuals can join a waitlist for application details, as the initial offering is limited to select LendingTree members.

How does the Win Card help improve credit scores?

The Win Card encourages responsible credit usage and provides a clear payoff schedule, which can help users improve their credit scores.