Magazine article American Banker

Visa and MasterCard for the Price of One

Magazine article American Banker

Visa and MasterCard for the Price of One

Article excerpt

ATLANTA -- The First National Bank of Atlanta, the southeast's largest issuer of Visa cards, has started offering MasterCards to its customers at no additional charge.

First National, the lead bank of the $7.1 billion-asset First Atlanta Corp., is encouraging people to sign up for a dual-card account, which costs the same as the bank's individual Visa or MasterCard accounts.

The annual fee is $12, and the annual percentage rate is 18%. If the account balance is paid in full each month, no finance charges are added.

First Atlanta's Visa customers will be offered MasterCards in mailings this week. In most cases, the offer will include a proposed 20% increase in the customer's line of credit. The new line, if accepted, may be drawn on by either card.

First Atlanta has more than 1.5 million Visa cardholders, with combined credit card balances of $870 million, according to Jerry D. Craft, senior vice president and manager of retail lending. …

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