The deal site LivingSocial is joining forces with Chase to create a new credit card, the LivingSocial Rewards Visa Card. It will give users special cardholder only benefits and have added value for LivingSocial users who make certain purchases. Card members will be able to earn points at a faster rate. Five points are earned for every $1 spent on LivingSocial purchases and three points are earned on every $1 spent on dining. Also, there is no limit to the amount of points a card member can earn.
LivingSocial is based in Washington D.C. and has more than 65 million members. It strives to connect its members with local businesses. It offers new deals each day that encourage its members to try something new in the community. Chief Financial Officer for LivingSocial, John Bax, believes that Chases commitment to small businesses made them the perfect partner for this new type of credit card.