Word: mastercards
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Irene Chang, a junior at Berkeley, had not planned to apply for a credit card. Then she heard a rumor that students who asked for a Visa card or MasterCard at a campus Citibank booth were rejected if they were majoring in the humanities. An English major and a reporter for the college paper, the Daily Californian, Chang asked the company representative if the rumor was true. Said Chang: "She told me, 'Just put in either business administration or electrical engineering...
Other businesses are getting in on the game as well. Some banks, including New York City's Citicorp, arrange for their Visa and MasterCard holders to receive frequent-flyer mileage every time they use their credit cards. The variations on this strategy are potentially unlimited. Members of TWA's frequent-flyer plan can chalk up mileage by buying Glad trash bags...
...processing the millions of rolls professional and amateur photographers shoot at the Games. IBM got to provide the computers that officials and athletes are using to check the schedule of events as well as the times and scores recorded. Visa is the Games' official credit card; ^ American Express, MasterCard and Diners Club cards are thus not being accepted at any Olympic ticket office or venue (though they find ready acceptance at Calgary hotels and restaurants). General Motors has the right to supply all the vehicles used by Olympic officials, and because GM cars are getting preferential parking at Olympic venues...
...subleased an old cruiser from the Iranian navy and plan to stock it with cold kegs of beer. Then, when we spot a warship, we'll cruise right in front of it and drop these kegs off the stern. The sailors on the warship will then radio us their Mastercard or Visa numbers and scoop up the kegs. It's sure to be a moneymaker...
...made bold strokes before during his meteoric rise at Citicorp. As an executive vice president, for example, he led the bank into the computer era, field marshaling the firm's early entry into the area of teller automation and then directing Citicorp's heavy involvement with Visa and MasterCard credit cards. When it came to making a convincing move last week, Reed reached for a large number. Said he: "Obviously it's a judgment call. Any number with nine zeros can only be approximate. We're clearly costing stockholders a year's earnings...