Consumer Payment Card News

Chase World MasterCard

Chase Manhattan announced the launch of the ‘Chase World MasterCard’ yesterday. The Chase version offers consumers a fixed 9.9% APR with a $75 annual fee. The ‘World MasterCard’ features no pre-set credit limit with the option of revolving a portion of the balance. It is a product directly targeted at American Express cardholders as a hybrid charge card/credit card. The value-added MasterCard enables cardholders to earn miles toward free flights on any major airline with no blackout dates. Additionally, the card features a 24-Hour ‘Global Concierge Service’ and the Chase ’24-Hour Travel Center’, which offers 5% cash rebates on travel and hotel discounts of up to 15%. MasterCard introduced the ‘World MasterCard’ in Oct. 97 to serve the growing number of affluent, convenience-only cardholders . . . . mostly aging baby boomers. Although not widely available, the ‘World MasterCard’ is also offered by Bank of America and Household Bank. VISA’ offers a similar product called ‘VISA Signature’. For more information on the ‘World MasterCard’ visit www.mastercard.com.

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