Chase, LivingSocial team for rewards credit card

Chase Card Services and LivingSocial have teamed to launch a new credit card known as the LivingSocial Rewards Visa Card, the companies announced via a press release.

The new rewards credit card is the first to team with a social buying site to offer cardholders an easy way to quickly earn points toward discounted deals. LivingSocial offers discounts to members on purchases such as dining, activities, spa services, car repair, vacations, trinkets and gifts in the geographic area members designate. Members receive emails alerting them of the deals, which are then available for purchase in limited numbers and often for a limited time.

The credit card offers member cardholders a way to earn points which are then converted to LivingSocial Bucks at a rate of 100 points for one Buck. There are no limits to the number of points that can be earned. The new rewards credit card has no annual fee.