United Financial Mortgage Corp., Oak Brook, Ill., has announced a no-annual-fee Platinum Plus Rewards MasterCard, issued by MBNA America Bank NA, that helps cardholders pay down their UFMC mortgage balance.Cardholders earn one point for every dollar in net retail purchases charged to the card, the company said. Each time a cardholder accumulates 5,000 points, a check for $50 will be sent to the borrower to be used for principal reduction or other purposes. There are no annual limits on points or on how much can be applied to the reduction of mortgage principal, UFMC said. "Consumers now have a way to leverage the power of their everyday expenses to pay down their mortgages faster," said Steve Khoshabe, president and chief executive officer of UFMC. "Paying even a few hundred dollars extra each year toward mortgage principal can save thousands over the life of a 30-year mortgage." UFMC can be found online at http://www.ufmc.com, and MBNA can be found at http://www.mbna.com.
