It's back... Chrysler launches Co-Branded Credit Cards

[XDCX]

In the spirit of old ideas are new again, Chrysler has partnered with First National Bank of Omaha and will offer a Co-Branded MasterCard. Here's a link to their press release - click here

While there wasn't too much concern among our members when Chrysler dropped their last Reward Card program, I'm happy to see they've found a new partner and relaunched the program.

[rd3311]

Do you remember the Chrysler AVCO VISA card program from 1985-86?

This was the first branded card for use in the service department to help
sell customer pay work. It was a good program, then it was dropped for
some unknown reason. After that Mitsubishi Bank began it's AutoMax card
which was started by John Honiotes who was a friend of Pete Ellis, we used
that program for 3 years until credit losses forced Mitsubishi to end it.

Mitsubishi then started Mits Credit and put all their resources into that company
to buy paper from their dealers.

[XDCX]

Originally Posted by rd3311

Do you remember the Chrysler AVCO VISA card program from 1985-86?

This was the first branded card for use in the service department to help
sell customer pay work. It was a good program, then it was dropped for
some unknown reason. After that Mitsubishi Bank began it's AutoMax card
which was started by John Honiotes who was a friend of Pete Ellis, we used
that program for 3 years until credit losses forced Mitsubishi to end it.

Mitsubishi then started Mits Credit and put all their resources into that company
to buy paper from their dealers.

That was a little ahead of my time, but it sounds like a great program.

I remember Chrysler/Mopar was talking about some type of "instant credit" program the Chrysler dealers could offer in their service department but it never came to fruition. There's no question the dealers could sell more service (and Mopar parts) if they had a program for customers who needed repairs but didn't have the money available to pay for them.

On a side-note, it's been awhile since I've heard about Pete Ellis. I wonder what he's doing these days? I could be wrong, but I don't think he's part of AutoByTel any longer. Maybe he's just enjoying his retirement.

[rd3311]

Pete sold AutoByTel to Mikronite Industries for $18 million a few years ago, he now
lives in Manhattan and has several web based businesses to include SpaFinder.com.

Pete and I communicate every now and again, he was a close friend of my father's as
well as mine. He is a super guy, and was one of the best marketing dealers there has ever been.

I know he is one of thousands to include myself that Chrysler is in the rear
view mirror for sure.

[rd3311]

The program those dealers were taking about was the Chrysler AVCO Visa.

It was a pilot program only the Orlando and Atlanta zones dealers were able
to participate. At the time of the program, supposedly Jerry Farrell wanted
Chrysler Credit to handle the administration instead of AVCO. It was dropped
altogether and never went anywhere.

[XDCX]

Originally Posted by rd3311

Pete sold AutoByTel to Mikronite Industries for $18 million a few years ago, he now
lives in Manhattan and has several web based businesses to include SpaFinder.com.

Pete and I communicate every now and again, he was a close friend of my father's as
well as mine. He is a super guy, and was one of the best marketing dealers there has ever been.

I know he is one of thousands to include myself that Chrysler is in the rear
view mirror for sure.

Thanks for the update - I'm happy to hear that Mr. Ellis is enjoying his retirement but still keeping active with some web-based businesses.

Concerning AutoByTel, the last thing I remember reading about them was a movement by some of their shareholders to wind-down the company and have a final dividend payment issued to shareholders after all the debts were settled. I haven't heard much about the company since then and that's probably been over a year and a half ago.

[XDCX]

Originally Posted by rd3311

The program those dealers were taking about was the Chrysler AVCO Visa.

It was a pilot program only the Orlando and Atlanta zones dealers were able
to participate. At the time of the program, supposedly Jerry Farrell wanted
Chrysler Credit to handle the administration instead of AVCO. It was dropped
altogether and never went anywhere.

Interesting - thanks for the information.

Since Auburn Hills likes to dust-off old programs and relaunch them (think Minivan Pledge....) maybe they'll re-examine the merits of this program.

[steve_biegler]

When I read your post all I could think of was Joe Gareogiola (sp) pitching Buy A Car Get A Check.......Those were the days!

[57years]

I am wonder how to rephrase you statement so Joe is "Catching" instead of "pitching." Hard to do!