Word: mastercard
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...Mayor's MasterCard...
...week also saw a heated struggle between the mayor and the Chronicle, which reported last Thursday that Reeves had declined to account for more than 275 expenses he charged on his city-issued MasterCard during a 13-month period...
...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...