MasterCard Alters Card Aimed At Affluent
MasterCard has made changes to its World MasterCard card program aimed at affluent, U.S.-based consumers with household incomes of $100,000 annually or more. The changes are aimed at allowing the 10 major issuers of the card to further customize the program. For instance, while issuers are required to offer a free airline ticket with no blackout period in the personal category, they are now empowered to customize rewards in the other three categories, such as feature toy store gift certificates in the family category; contribution of points to an IRA program in finances; or a donation of points to charity in the community category.
It noted that consumer households earning $100,000 or more annually comprise only 14% of all U.S. households, but account for more than 25% of spending, and tend to spend much more per transaction.