Word: frequently
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Dates: during 1980-1989
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...only after carefully researching the odds. His boldest move so far was his unexpected proposal at the May 29-30 NATO summit in Brussels to slash U.S. and Soviet conventional-force levels in Europe. Last winter and spring Soviet leader Mikhail Gorbachev was beguiling European public opinion with frequent disarmament offers while the President stood pat, waiting for his aides' review of American foreign policy. NATO allies were growing impatient, and Bush's popularity in some polls was inching downward. By early May, despite his public denials of concern, the President was feeling anxious. "I need something," he told...
...seems this particular set of checks came from Joey's Pan Am-affiliated MasterCard. It's one of the many airline-affiliated Visas or MasterCards that give you a frequent-flyer mile free for every dollar you charge, even if you pay your balance in full within the grace period. To a frequent-flyer junkie, these cards are irresistible...
...First," said Joey, "I called to be sure I'd really get frequent-flyer mileage if I used these checks. ((Usually with the checks you don't.)) They | said yes. Then I made sure my account balance was zero: I paid all my outstanding charges and quit using the card. ((He switched to his United Airlines Visa.)) Then I took one of the checks they sent me, made it out to myself for $10,000 and deposited it in my bank. So I was borrowing $10,000 from MasterCard. ((He has a big credit line.)) But at the same time...
...MasterCard's computer awarded Joey 10,000 Pan Am frequent-flyer miles...
Cost to Joey: nothing. Cost to MasterCard: 10,000 frequent-flyer miles. (The bank that issues Joey's MasterCard pays Pan Am a penny or so for each mile awarded -- about $100 in this case.) Lessons for us: Resist those tempting blank checks your credit-card company sometimes sends (unless you're really looking for a way to borrow money at 19.8%). Switch to a credit card that offers frequent-flyer miles. (If you're charging things, you might as well get a free trip once in a while.) Don't mess with my pal Joey...