Word: credited
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Dates: during 1980-1989
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...charges and quit using the card. ((He switched to his United Airlines Visa.)) Then I took one of the checks they sent me, made it out to myself for $10,000 and deposited it in my bank. So I was borrowing $10,000 from MasterCard. ((He has a big credit line.)) But at the same time, I sent MasterCard a real check for $10,000." A couple of days later, three things happened...
Cost to Joey: nothing. Cost to MasterCard: 10,000 frequent-flyer miles. (The bank that issues Joey's MasterCard pays Pan Am a penny or so for each mile awarded -- about $100 in this case.) Lessons for us: Resist those tempting blank checks your credit-card company sometimes sends (unless you're really looking for a way to borrow money at 19.8%). Switch to a credit card that offers frequent-flyer miles. (If you're charging things, you might as well get a free trip once in a while.) Don't mess with my pal Joey...
...CREDIT: TIME Chart by Joe Lertola...
...officials have opposed the idea of independent national currencies, but that has not stopped the three republics from drafting plans to reduce the flood of Soviets who come from the rest of the country to buy scarce goods in better-supplied Baltic shops. The Estonians discuss establishing their own credit-card system, and the Latvians talk about creating an alternative currency as early as next January. It would be paid to local workers and redeemable in special stores. Last month the Supreme Soviet finally gave Estonia and Lithuania the green light to try running their economies free of interference from...
...CREDIT: TIME CHART BY JOE LERTOLA...