L.L.Bean has partnered with Citi Retail Services to launch a new co-branded Mastercard for its customers with an enhanced rewards structure and added benefits.
The card has no annual fee and offers “Bean Bucks” rewards points that never expire and can be used for savings on L.L.Bean purchases made online, in-store or by phone. Cardholders also benefit from free shipping on all purchases, as well as free return shipping and free monogramming.
Rewards for members also include:
- 4% on L.L.Bean purchases;
- 2% at gas stations;
- 2% at restaurants; and
- 1% on all other purchases.
“We are thrilled to be welcoming Citi and Mastercard to our family of business partners,” said Steve Smith, President and CEO of L.L.Bean in a statement. “Their extensive retail experience and ability to put together a program to enhance our customers’ shopping experience made them a natural choice. Our new co-branded card and the greatly enriched rewards it offers are fantastic for our current customers, and will also help us welcome new customers to L.L.Bean to share in our passion for the outdoors.”
As part of the partnership, Citi Retail Services acquired the existing $1.5 billion L.L.Bean co-brand credit card portfolio after the company ended its partnership with Barclays and Visa. Current cardholders will be issued new L.L.Bean Mastercard accounts and will be automatically upgraded to the new card’s enhanced reward program.