iz, 1970 GltKKUiiY TltlUUJXJi 1'age J MASTER CHARGE LAYS THE CARDS THE TABLE . Blunt answers to some pointed questions. Q. Does Master Charge increase the cost of retail goods? A. No. In fact, it usually lowers a merchant's normal cost of doing business. On an average, Master Charge costs him less than half of what it does to maintain his own charge account system. Q. What effect does Master Charge have on consumer credit? A. National figures show that only 2% of consumer credit is now onbank charge cards, and that the cards have apparently not affected total credit purchasing at all. The only real change since these cards were introduced is a shift of consumer credit from merchants to hanks. Q. What is Master Charge's role in the economy? A. It's merely a different and more efficient way of buying and paying, not an additional way. Instead of having one charge account here, another there, and one more somewhere else, you now have just one that's good all over town. All across the country. And you have less need for frequent cash or check transactions. Q. How are Master Charge cards distributed? A. Only established customers of Master Charge hanks in this area were originally selected to receive the card. All of these people were notified in advance, and given an opportunity to refuse the card before it was mailed. Master Charge cards are being reissued on the same basis. And hundreds of other customers get cards every day by applying for them. Q. Who can get aMaster Charge card? A. People with a steady income, plus an established record of good credit. Q. What does it cost to get a Master Charge card? A. Nothing. Master Charge cards are issued without cost, through our member banks. And there are no annual dues or membership fees. Q. What dowe charge when you charge? A. Nothing. If you pay for the things you buy within 25 days of the time they first appear on your monthly statement, there's no finance charge at all. If you elect to extend payments, you just pay part of the balance each month--at least $10.00 or 5%, whichever is greater -- with the same finance charge used by almost all large retail chains and department stores. That's either 1Y2% per month or .04931% per day, depending on the bank that issues your Master Charge card. Either way, it's equivalent to the standard annual percentage rate of 18%. Some banks apply the finance charge day by day, after making adjustments for payments and credits.* Others simply figure it based on the previous month's balance.** And some apply it to the previous month's balance, after deducting payments and credits.*** Q. How is Master Charge more convenient? A. It gives you a charge account almost anywhere you want to shop, and eliminates the inconvenience of carrying cash and the bother of writing a lot of checks at the end of the month. You get one itemized statement, and one check does it. Q. Where can you use your Master Charge card? A. Nearly any place you want to, including 44 countries around the world. Q. If you find yourself short of cash, can Master Charge help you get the money you need? A. Any Master Charge bank or bank branch -- and there are over 14,500 of them across the country--can give you a cash advance, based on your credit limit. Q. What happens if your card is lost or stolen? A. On any Master Charge card issued by Mountain States Bankcard Association banks, your liability ends as soon as you notify the issuing bank that it is gone. Our banks simply ask that you telephone immediately--by collect call, if necessary--and follow up the call within a day or two by letter. Q. Are there safeguards built into the Master Charge payment system? A. Yes. A credit limit is establishedbased on the average cardholder's needs. This limit may be adjusted to fit individual needs by contacting the bank that issued the card. Q. How does Master Charge help in budget control? A. First of all, you get a receipt for everything you use the card for. So you can always tell where you stand. Then it's all itemized on your monthly statement, to help you see at a glance where your money goes. And finally, you can always extend payments, to level out peak spending periods. Q. What if you get a Master Charge card you don't want? A. If you miss our advance mailing and get an unwanted Master Charge card, or if you receive cards from more than one bank, you can simply destroy them by cutting in two with scissors. Then just notify the bank, and your name will be removed from the mailing list. Q. How do you get more information on Master Charge? A. Call any Master Charge bank. They're listed in the Yellow Pages. 'Cards issued by Colorado Springs National Bant. .Tefferson Comity BÂ«jk of Lakcwood, Colo., or through their affiliate Master Charge banks in your area. "Cards issued by Denver U.S. National Bank, Exchange National Bank of Colorado Spri ngs, and First National Bank of Denver, or through their affiliat* Master Charge banks in your area. *** Cards issued by American Notional Bank of Denver, or through Uieir affiliate Master Charge banks in your area.
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