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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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082889
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08288900.004
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1990-09-17
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744b
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14 lines
BUSINESS, Page 57Business NotesCREDIT CARDSzx
Now They'll Need Wallets
Aw, man, my credit card's maxed out, and I really wanted that
Nintendo game." Such plaints may soon come from the mouths of
adolescents. Denver's Young Americans Bank, which caters to youths,
will start issuing a kids-only MasterCard this week to patrons who
are at least twelve years old and can persuade an adult to co-sign.
Cardholders will pay a membership fee of $15 and an 18.8% finance
charge on unpaid balances, but the Kidcard's $100 credit limit
seems to rule out wild shopping sprees. "This way, they build their
own credit history," says bank vice president Cindy Culkin. "If
they don't make the payments, they've blown it by themselves."