Word: visa
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...emperor is far away." Even in the capital the pace of change seems unabated. The Bank of China last week agreed to link its Great Wall credit card with New York-based MasterCard International operations. The move came just two weeks after the Chinese bank said it would issue Visa International cards later this year...
Another irritation for some consumers is that banks are changing the rules about interest payments. Traditionally, for example, Visa and MasterCard holders have had 30 days in which to pay their bills in full before finance charges began. Now, however, dozens of banks have started to charge interest as soon as purchases are made...
...adding to the turmoil in the credit- card industry is the advent of tax reform. Some experts think the new law will slow down the use of plastic credit because it phases out deductions for interest on card balances. But some banks are getting around that problem by linking Visa cards or MasterCards to a home-equity credit line. Interest on these home loans is still fully deductible. Customers can therefore get a credit line against their homes that permits them to run up as much as $100,000 in interest-deductible card charges. But, warns Edward Kramer, senior vice...
...unusually low 11.5% interest on its MasterCard, will lend people the money they need to pay off other credit-card balances and switch to its card. Buffalo-based Empire of America bank now offers its customers a novel choice. They can pay 18% interest on purchases with a Visa Classic card and enjoy the traditional 30-day grace period, or they can pay just 13.7% on a Visa Lite and tote up interest from Day 1. Tastes great, but it is more filling...
...prisoner-of- war camp in Chelm, Poland. From there the trail becomes murky. According to Defense Attorney Mark O'Connor, Demjanjuk was then transferred to the pro- Nazi, anti-Communist Ukrainian National Liberation Army, and after the war was put in a displaced-persons camp. When he secured a visa to enter the U.S. in 1951, he concealed his military record and claimed to have spent the war years as a forced laborer for the Germans...