Is the Diners Club Really Making a Comeback?

Wall Street Journal

The iconic credit card you knew as a kidis back, and this time it's even more useful.Diners Club (www.dinersclub.com), theoriginal credit card used by executives topay for meals when strapped for cash,will soon be redistributed by its owner,Citicorp. The reissue, according to aarticle, is due toheated competition among creditcard companies to deliver cards with bigrewards programs for high-income customers.The new Diners Club card will havethe single most lucrative frequent-flierrewards program available, offering onemile for every dollar charged, which can betraded in at every major domestic airline.The card will be MasterCard-based andusable wherever MasterCard is accepted.However, one drawback is a high annualfee of $95. But if you're a big spender whodoesn't mind a fee to rack up tons of miles,this may be the card for you.