Wachovia Corp. has introduced a Millennium MasterCard at an introductory annual interest rate equal to the prime rate, currently 7.75%, until 2001.
Cardholders will be automatically entered in monthly sweepstakes each time they make purchases through 2000. The prize: $500 on purchases of less than that amount, or the purchase price (up to $2,000) for larger transactions.
One grand-prize winner will get two airline tickets to New York City and a four-night hotel stay, including next New Year's Eve.
The card has no annual fee, but its interest rate jumps to prime plus 5.9% on Dec. 31, 2000.