Word: mastercard
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Dates: during 1990-1999
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...addition, Reeves faxed a five-page letter last night to the Cambridge Chronicle. The letter, which was obtained by The Crimson, countered a Chronicle report that Reeves had failed to account for more than 275 expenses he made on his city-provided MasterCard over the pass year...
...annual fees, Discover clients were issued free cards. Amex users had to pay their bills in full each month; savvy bank-card customers enjoyed revolving credit at modest interest rates. AmEx clients could brandish their cards in 3.7 million upscale establishments worldwide; Visa cards opened 11 million doors, MasterCard 12.3 million. Feeling decidedly underprivileged, 2 million AmEx users cut up their cards between 1991 and 1993 and went in search of better bargains...
...appeal to consumers if they can't use the new cards when and where they want. In recent years, AmEx has been chucked out of establishments by owners who were no longer willing to pay an average fee of 3.2% per purchase (as compared with 2% for Visa and MasterCard). A chastened Amex has now chopped its vendor fee to 2.8%, and the ploy seems to be working. Since 1992, the company has moved boldly into / establishments regarded by consumers as plastic-essential, including -- choke on this, yuppie scum! -- Sears and K Mart. This year alone, AmEx expects to sign...
...Hospital Corp. of America, based in Nashville, Tennessee. He offered $5 billion. Scott, then a 34-year-old Fort Worth, Texas, lawyer, had $125,000 in the bank. They laughed, he recalls fondly. "One guy in Dallas said, 'What are you going to do, Rick? Put it on your MasterCard...
...first blush, this may seem no bargain, and on normal transactions it's not. But here's the deal. The ATMS limit you to $400, but by going into a bank that honors MasterCard, as most do, you can grab a cash advance equal to your entire available credit. From a human teller (remember them?). Because of the $20 cap, that 2.5% maxes out at $800. Borrow more, and the effective percentage you pay begins to fall. Say you borrow $2,000. The charge is still $20, which works out to 1%. Borrow $10,000, if your credit limit...