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BAYBANKS LOWERS INTEREST RATE FOR ALL CLASSIC CREDIT CARD CUSTOMERS

BAYBANKS LOWERS INTEREST RATE FOR ALL CLASSIC CREDIT CARD CUSTOMERS
 BOSTON, June 8 /PRNewswire/ -- BayBanks (NASDAQ: BBNK) will lower the interest rate on its Classic MasterCard and Visa credit cards from 16.98 percent to 14.90 percent, effective June 15. Available to all new and existing customers, this rate and the rate on BayBanks' Visa Gold and Gold MasterCard, which is 14.49 percent, are the lowest charged by any major Massachusetts bank.
 "BayBanks always has offered consumers attractive rates on credit cards," said Jim Cosman, president of BayBanks Credit Corp. "The reduction in BayBanks' rates is consistent with our commitment to provide the best value in banking.
 "BayBanks is particularly proud of the service it provides to credit card customers," continued Cosman. "Especially in light of the fact that during the past few years, all other major Massachusetts banks have sold their credit card businesses to companies that have their operations and customer service centers outside of the state." BayBanks offers an unbeatable combination of the best rates and the only local, 24-hour customer service center.
 Baybanks, Inc. headquartered in Boston, is one of Massachusetts' largest bank holding companies with more than $9.4 billion in total assets as of March 31, 1992. Through its more than 200 branch offices and over 1,000 Baybank X-Press 24 banking machines, Baybanks offers consumers a wide range of banking products and services.
 -0- 6/8/92
 /CONTACT: Traci Levy of BayBank Systems Inc., 617-788-7823/
 (BBNK) CO: Baybank Systems Inc. ST: Massachusetts IN: FIN SU:


CN -- NE011 -- 7807 06/08/92 10:21 EDT
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Publication:PR Newswire
Date:Jun 8, 1992
Words:263
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