Chase Card Services and LivingSocial have partnered to debut the first-ever co-branded credit card backed by a daily deal service. All purchases made with the LivingSocial Rewards Visa Card help cardholders earn points toward deal credit.
Every dollar spent on LivingSocial with the new Chase card generates five points. Dining purchases are worth three points per dollar, while all other purchases convert one-to-one. From there, every 100 points is worth one LivingSocial Deal Buck. In effect, power users at LivingSocial who sign up for the card will get five percent back on all their purchases at the site.
In addition, cardholders who sign up in 2012 will earn 10 Deal Bucks in each month that they use the new LivingSocial card 10 times.
A full press release is available online.