Card Carrying Jerseyans

South Orange, N.J., a bucolic suburb of 17,000, is poised to join the ranks of affinity credit-card issuers. That's a rare, and perhaps unique, position for a municipality. Village President Bill Calabrese calculates that, if 2,500 residents use the South Orange MasterCard, the town could rake in $75,000 to $150,000 annually--a decent addition to its $16 million 1993-94 budget. The extra money could hold down property taxes, rising at a 5%-per-year clip, and help its downtown renovation.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.