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Mastercard Raises Luxury Stakes

Hiltonmc_1As the middle market becomes saturated with Fannie Mae-fueled debit cards, credit cards have joined hotels and city magazines in their pursuit of the upscale consumer.

With this campaign, MasterCard is targeting consumers that make at least $100,000, who charge seven or eight times the annual $3,400 or so that the average customer spends with his card. The Nilson Report estimates these premium cards represent almost $270 billion, or 20 percent, of American credit card spending, from a base of only 1.5 percent of the total number of consumer credit cards issued.

The New York Times reports the card is going after the "Lifestyles of the Rich and Famous" set - and signals a new round of going after high end partners like Emirates Holidays or MLB's "Ultimate Baseball Experiences".

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