Zions Credit Card Ranks No. 1 for Lowest Ongoing Rate

SALT LAKE CITY — At a time when many consumers are watching interest rates on their credit cards rise in the aftermath of the Credit Card Act of 2009, Zions Bank’s Low Rate Visa Platinum card has been ranked No. 1 in the country for the lowest ongoing interest rate for consumers with good credit. Zions Bank’s card surpassed 216 others in the category of “Low APR” on www.nerdwallet.com, winner of Money magazine’s 2010 Best Credit Card Website (based on the site’s July 7, 2010 listing).

Zions Bank’s Low Rate Visa Platinum card features an introductory 7.00 percent variable APR for new purchases and charges no annual fee. Cardholders can also customize their first card for free with their personal photo. Additionally, clients are eligible to earn up to 50 percent cash back at participating Zions Cash Rewards merchants. Subject to approval, the rate is available to consumers with good credit with a $35,000 minimum household income. Terms and conditions apply. More information and online applications are available at www.zionsbank.com.

The recent passage of the Credit Card Accountability and Disclosure Act of 2009 has meant that many card issuers have had to raise interest rates to compensate for lost fee income. The current average
credit card rate in the U.S. is 14.39 percent, according to bankrate.com’s weekly survey of variable rate cards among the 50 largest card issuers. But Zions Bank’s credit card rates have remained unchanged since the new regulations went in to effect, with rates ranging between 7 percent and 12.25 percent, depending on card type.

“Zions Bank’s credit card model is different from that of big credit card issuers. Our focus is more on frequent and responsible use of credit,” said Brian McCaul, Bankcard Marketing Manager. “We’ve never offered sub-prime cards, nor have we ever charged default of penalty rate pricing.”

McCaul notes that, as a company, Zions has a heritage of conservative lending policies, which means
that many clients tend to have relatively strong credit scores. Since the portfolio carries less risk, Zions
Bank’s cards can be priced more competitively.

“While many of our clients pay off their balances each month and are less concerned about interest rate, during this slower economy, having the option to carry a balance with an affordable interest rate, offers clients additional options,” McCaul said.

Between now and October 2, new card clients can also transfer existing card balances to Zions Bank’s Low Rate Platinum card and enjoy the same 7.00 percent low APR fixed for 12 months. There is a 2 percent balance transfer fee, but the fee is capped at a maximum of $50. Most issuers charge 3 percent on balance transfers with no maximum fee. After the 12 months, the rate will change to prime plus 15.99 percent.

Zions First National Bank, a subsidiary of Zions Bancorporation (Nasdaq: ZION | PowerRating), operates
134 full-service branches and nearly 200 ATMs in Utah and Idaho. In addition to offering a wide range of
traditional banking services, Zions Bank is also a leader in small business lending and has consistently
ranked as the No. 1 lender of U.S. Small Business Administration 7(a) loans in Utah for the past 16 years
and Idaho’s Boise District for the past eight years. Founded in 1873, Zions Bank has been serving the
communities of the Intermountain West for more than 135 years. Additional information is available at
www.zionsbank.com.