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GTE INTRODUCES THE GTE MASTERCARD, WITH ALL THE BENEFITS OF A TELEPHONE CALLING CARD AND A MASTERCARD

GTE INTRODUCES THE GTE MASTERCARD, WITH ALL THE BENEFITS OF A TELEPHONE
 CALLING CARD AND A MASTERCARD
 IRVING, Texas, Sept. 21 /PRNewswire/ -- GTE Corp. (NYSE: GTE) today announced it is marketing to consumers within its telephone operating areas the GTE MasterCard, a co-branded card with the best features of a GTE Calling Card and a MasterCard. Features include an introductory variable annual-percentage rate (APR) equal to the prime rate (currently 6 percent).
 The GTE MasterCard is being issued by Associates National Bank (Delaware). GTE Card Services, a unit of GTE Corp., is responsible for card marketing. GTE Telephone Operations is responsible for all telephone-charge functions of the card.
 "We are pleased to work with The Associates and MasterCard to offer this superior value to our customers," said Kent B. Foster, president of GTE Telephone Operations. "The card helps fulfill our strategic objective of providing enhanced consumer products and services whenever possible."
 The initial offering of the GTE MasterCard is being mailed beginning today to consumers in 29 states where GTE provides telephone service. A card offering in 11 additional states where GTE provides phone service, including California, will be made in 1993. Consumers in non-GTE telephone operating areas and international areas are not being solicited.
 Features Include No Annual Fee and 10 Percent Cash-back
 GTE MasterCard features include no annual fee and a credit limit of up to $7,500. As a part of its agreement with GTE, Associates National Bank will provide card holders with 10 percent cash-back, up to $50 a year, on phone charges generated using the calling-card feature. The introductory interest rate is in effect until April 30, 1993. After this date the interest rate will be the prime rate plus 10.4 percent (currently 16.4 percent). "We know card users will appreciate the convenience of using a single card for phone calling and credit purchases, while paying no annual card fee," Foster said.
 Associates National Bank is responsible for all credit, card issuance and billing for the MasterCard features. Telephone charges generated from using the calling-card feature will be billed separately by GTE. Phone calls may be charged to a user's MasterCard account only when using certain "cardswipe" phones. The current GTE Calling Card, used for phone charges only, will continue to be available to GTE-area consumers.
 GTE Telephone Operations is the largest U.S.-based, local-telephone company, providing phone service through more that 20 million access lines in 40 states and three foreign countries. GTE Card Services provides card-marketing services. GTE Corp. is the fourth-largest publicly owned telecommunications company in the world.
 Associates National Bank (Delaware) is an affiliate of The Associates, a consumer and commercial finance company with assets of over $25 billion. The Associates, part of the Financial Services Group of Ford Motor Company, is among the top dozen issuers of MasterCard and VISA credit cards in the United States, with more than three million customers.
 MasterCard International represents 29,000 member financial institutions and has more than 171 million cards in circulation. Worldwide dollar volume in 1991 was nearly $221 billion, with global acceptance in nearly 10 million acceptance locations.
 GTE MasterCard
 -- Introductory variable APR equal to the prime rate (currently 6 percent) until April 30, 1993. After this date the interest rate will be the prime rate plus 10.4 percent (currently 16.4 percent)
 -- No annual membership fee
 -- Credit limit of up to $7,500
 -- GTE Calling Card and MasterCard in a single card
 -- 10 percent cash-back from The Associates, up to $50 per year, on calling-card usage
 -- Travel enhancements including:
 Savings on air and cruise ship fares
 Rental car discount
 Hotel discount
 Exclusive discount and bargain travel hotline
 -- 10 percent discount coupons good at GTE Phone Marts (not including local telephone service or toll charges).
 -- $100,000 travel accident insurance
 -- Optional CardCare insurance
 -- Cash access via convenience checks
 -- Cash withdrawals via Cirrus system
 -- Up to four additional cards at no charge
 -- 24 hour customer service
 -- Consumers interested in receiving an invitation to apply for the GTE MasterCard may call 1-800-247-2566
 -0- 9/21/92
 /CONTACT: Tony Hamilton, 203-965-2853 (After 6 p.m. 203-327-2162), Thomas Byker, 214-714-0244; or Julia Spicer (on the Washington, D.C. leg only), 202-463-5206, or (after 6 p.m., 202-797-0715), all for GTE/
 (GTE) CO: GTE Corp.; Associates National Bank ST: Connecticut, Texas IN: TLS FIN SU: PDT


SH -- NY039 -- 1633 09/21/92 11:37 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Sep 21, 1992
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