Word: mastercards
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Dates: during 1980-1989
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...terribly smart or talented, and they have problems which seem so overwhelming that they shut them out, and concentrate on the simpler task of just getting by. "The Nature of Almost Everything" begins. "Tell you at thirty-six my goals are to stay sober and pay off my MasterCard bill...
...rate of 18% to 21% on unpaid balances. A few lenders at the high end of this range have now decided to give their customers a bit of relief. The Bank of New York, for example, said last week that starting May 1 the rate it charges Visa and MasterCard holders will drop from 19.8% to 18%. InterFirst Corp., a holding company that operates 51 banks in Texas, announced that on April 20 it will lower its bank-card interest from...
Although Diners' Club first issued credit cards in 1950, American Express leaped ahead after introducing its green card in 1958. The firm now has some 14 million pieces of plastic in use, against about 2 million for Diners' Club. Visa and MasterCard, which issue their cards through banks, are far bigger. Each has about 70 million cards in circulation. But Amex insists that its members are more affluent and use their cards more often...
...MasterCard and Visa are counting heavily on that type of consumer reaction. Says Fran Schall, a Visa vice president: "This will be a status symbol for many customers. It will be very important to pull it out at a business lunch, especially when colleagues may not have the same card." Adds MasterCard President Russell E. Hogg: "Recognition is one of the greatest marketing tools in America, and the gold card is recognized as prestige...
While American Express was first into the status credit market, Visa and MasterCard believe that the wider use of their cards will help them win customers from American Express. Each of those cards is accepted by some 3.5 million businesses, while only about 500,000 merchants take the American Express...