ROCKY MOUNT, N.C., Sept. 11 /PRNewswire/ -- Centura Bank (NYSE: CBC) is
introducing two new credit cards later this month featuring rewards that are
among the most aggressive in the country.
    The cards reward cardmembers with cash back on purchases or free miles on
any airline and will have no annual fees and competitive variable rates.
Unlike many card offers issued by large card companies, Centura will use no
gimmicks or teaser rates in marketing the TravelSmart(R) or CashMax(R)
cards.
    The move is the result of decision by Centura to intensify its credit card
marketing efforts and to differentiate its cards to compete with non-bank
credit card companies who have targeted all bank credit card customers.
    "While credit cards are a commodity business, we believe there is a real
opportunity to provide our clients with higher value credit cards instead of
the gimmicks they get from everyone else," said Robert R. Mauldin, Centura's
chairman and chief executive officer.  "These new cards offer rewards that are
as good as any in the country, and we plan to aggressively win back credit
card relationships with our own clients and anyone else who is interested in
our card."
    The Centura TravelSmart card is targeted at credit card users who enjoy
traveling but may not travel enough to participate in airline frequent flyer
programs.  Unlike most travel programs, TravelSmart rewards are good on any
airline and cardmembers can fly at any time, without airline blackout periods.
    The program awards one travel point for every dollar spent using the card.
TravelSmart cardmembers will receive an airline discount coupon worth $100 for
each 5,000 points they earn.  When they accumulate only 20,000 points, a lower
threshold than most frequent traveler programs, TravelSmart cardmembers are
eligible for a free round trip ticket to any destination in the continental
United States.
    There is no annual fee for TravelSmart, although there is a $25 program
fee charged each year to cover the cost of administering the travel program.
The fee will be waived in the first year and will be rebated in subsequent
years if purchases of more than $5,000 are made with the card.  As an
incentive to sign up for TravelSmart, Centura will award new cardmembers 1,000
bonus points.  The pricing makes Centura's TravelSmart card one of the lowest-
priced travel cards in the country, while giving cardmembers the ability to
fly on any airline at any time.
    For clients who aren't interested in travel, the Centura CashMax card
rewards users with a cash rebate of up to 1 percent on every purchase they
make, making it one of the most aggressive cash rebate credit card programs in
the country.  Each year, Centura will credit CashMax accounts with 1/2 percent
rebates on combined annual purchases up to $5,000 and an additional 1/2
percent on combined annual purchases that exceed $5,000.  There is no annual
fee for the CashMax card.
    The classic Visa and MasterCard versions of TravelSmart and CashMax offer
variable rates of Prime plus 7.9 percent.  TravelSmart also is offered as a
Visa Gold or Gold MasterCard with rates that vary according to the outstanding
balance: the rate is Prime plus 3.5 percent for balances of 0 to $5,000; the
rate is Prime plus 2.5 percent for balances of $5,001 to $10,000; and the rate
is Prime plus 1.5 percent for balances over $10,001.  Centura offers the same
rates on a no annual fee Visa Gold card without the travel options.  Centura's
Prime Rate today is 8.25 percent.
    All Centura credit cards offer $250,000 automatic Travel Accident
Insurance, 24-hour toll free customer service and emergency card replacement.
    Centura's new credit cards will be available on September 23 by calling
Centura Highway at 1-800-CENTURA or at any Centura financial center.  More
information also is available by visiting Centura on the World Wide Web at
http://www.centura.com.
    TravelSmart and CashMax are registered trademarks of Centura Bank.
    With assets of $5.8 billion, Centura provides a complete line of banking,
investment, insurance and trust services to individuals and businesses
throughout North Carolina.  It provides services through 155 financial
centers, more than 200 ATMs at financial centers, Wal-Mart and Sam's stores,
the Centura Highway telephone banking center and Quicken and Microsoft Money,
the leading personal finance software packages.  Centura is opening 33 bank
offices in Hannaford supermarkets in the Carolinas and Virginia by the end of
1997.

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