BrandSource buying group has launched a new consumer financing program that it said will offer its members low rates and new consumer promotions.

The program offered through Citi Bank Financial, features customer incentives, including a $50 prepaid Visa gift card promotion that BrandSource said was heavily used over Memorial Day weekend and led to the members' best credit month ever.

"When a customer applies for and/or uses the new BrandSource credit card, the approval process is lightning-fast, often finalized in less than one minute," Bob Donaldson, BrandSource vice president of digital communications, said in a release. "BrandSource members' store names appear on the card next to the BrandSource logo to help build customer loyalty and encourage frequent visits."

Other promotions available include double consumer rebates, high-dollar ticket program, and "more than $1 million in bottom line cost savings to members," the furniture, electronics and appliances buying group said. Credit approvals are running near 80%, which is "outstanding considering the economic conditions many consumers have faced," it said.

Anaheim, Calif.-based BrandSource said it's working with Citi to develop more new promotions that benefit members and their customers to help drive business to stores.