Visa To Drop Card Category Requirements

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Effective in March of 2004, Visa said it will drop most requirements related to terms on platinum, gold and classic Visa cards.

The card association said it is doing so because the categories have ceased to have much meaning, and that relaxing the rules will make it easier for card issuers to develop innovative new products. The changes are expected to primarily affect perks required to be offered on various premium cards, such as travel accident insurance. Issuers will no longer have to pay for across-the-bard add-ons, Visa said.

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