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BANK OF NEW YORK (DELAWARE) REPORTS SURGE IN CREDIT CARDS' USAGE OVER HOLIDAYS

 NEWARK, Del., Dec. 31 /PRNewswire/ -- The Bank of New York (Delaware) today reported a 35.1 percent increase in overall credit card charges during the 1992 holiday buying season. Cash advances increased 67 percent and merchandise charges increased 28 percent. MasterCard International and VISA USA both reported large increases in total credit card charge volume of 23.4 percent and 17 percent respectively.
 "We had a terrific year in 1992 and believe consumers will continue to be attracted to our low interest rate, no fee Consumers Edge credit card," said Robert Burke, chairman of The Bank of New York (Delaware). "In the next two weeks, consumers across the country will be getting the first wave of credit card bills reflecting those purchases."
 "Consumers can start saving money in 1993 immediately if they refinance their credit card purchases on Consumers Edge. If you charged holiday gifts on another credit card, you can potentially save hundreds of dollars in finance charges by moving your balance to Consumers Edge."
 The Consumers Edge credit cards (both MasterCard and VISA) have an 11.9 percent annual percentage rate for purchases and 13.9 percent for cash advances. It's rates are among the lowest for any nationally offered credit card with no annual fee. Consumers can get information about Consumers Edge by calling 1-800-942-1977.
 The Bank of New York (Delaware) is the eighth largest issuer of credit cards in the United States.
 -0- 12/31/92
 /CONTACT: Robert H. Burke, chairman of The Bank of New York (Delaware), 302-454-6109, or Margaret H. Southerland of Abernathy- MacGregor, 212-495-1725/


CO: The Bank of New York (Delaware) ST: Delaware IN: FIN SU:

TM -- NY033 -- 0964 12/31/92 15:26 EST
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Publication:PR Newswire
Date:Dec 31, 1992
Words:282
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