Release Details

First USA Announces Launch of New Consumer Smart Card Product - 'First USA smart Visa'

Wilmington, DE -- October 25, 2000 -- First USA, the largest Visa card issuer, today announced the launch of its new smart card product for consumers - the First USA smart Visa card. The First USA smart Visa card allows consumers to store all of their Internet usernames and passwords, favorite web sites, personal profile information and credit card information on their smart chip for quick and easy access. It also protects the consumer's personal data by keeping all of the data stored on the chip encrypted and accessible only by the cardmember using a password. In addition, cardmembers get the added values of free access to First USA's Connection online shopping service and 5% cash back offers when purchasing online from participating merchants.

Chip data is securely managed by SmartView(TM) software, which is exclusively offered by First USA. Using SmartView, cardmembers will be able to gain entry to preferred web sites and fill web forms with just one click of the mouse.

"The First USA smart Visa is a natural extension of our commitment to developing high-quality payment products that are tailored to meet individual cardmember needs," said William P. Boardman, chairman and chief executive officer of First USA, and vice chairman of Bank One Corporation.

"The First USA smart Visa card is the next generation of consumer payment products that significantly improves the customer's online shopping experience," said Carter Warren, executive vice president and chief marketing officer of First USA. "Through the development of powerful chip technology, we are providing our cardmembers with a product that gives them the best of both worlds - all the traditional value and features of a First USA Visa card plus the enhanced convenience, utility and security needed for operating in a virtual world."

The First USA SmartView software and personal smart card reader are the keys to unlocking the maximum value of the card. Both SmartView and one smart card reader are free to cardmembers and provide convenient and secure access to cardmembers' personal data and enhance their online shopping experience. Once data is stored on the card it is secure and completely portable to any other PC with the software and reader. Additional card readers can be purchased by the cardmembers.

Warren said the card's usefulness to cardmembers will evolve over time as First USA develops new applications. First USA is using a powerful 32K Open Platform chip that will allow downloading of new applications over the Internet after a card is issued.

First USA smart Visa - the product

• Visa branded credit card with credit lines up to $100,000
• Offers low introductory rate of 1.9% for six months with the transfer of a balance
• Offers competitive variable annual percentage rate based on the Prime Rate
• 32k upgradeable microchip on the card
• Provides one free personal card reader
• Provides free SmartView software
• Provides online account management
• Provides online bill payment
• Provides free access to First USA Connections - an online service that provides access to hundreds of retailers and millions of products.
• Provides 5% cash back at select online merchants, including Amazon.com, CDNow.com, Outpost.com, eToys.com and Dean-Deluca.com
• Provides increased convenience and utility related to online transactions
• Provides Visa's zero-liability protection for unauthorized transactions

First USA will begin marketing the First USA smart Visa card in early November with a national advertising campaign that includes direct mail, direct response television and the Internet. Prior to that, consumers can find out more about the First USA smart Visa card by visiting www.firstusa.com/privateoffer.

The First USA smart Visa card is accepted at over 19 million locations worldwide and can access cash at over 910,000 banks and ATMs.

First USA (www.firstusa.com), a subsidiary of Bank One Corporation (NYSE: ONE), is the largest issuer of Visa credit cards. First USA offers credit cards for consumers and businesses under the First USA, First Card and Bank One names and on behalf of its marketing partners. Bank One, with more than $280 billion in assets, is the nation's fourth-largest banking holding company.