3.2.3. Carte Blanche
Carte Blanche originated as a Travel & Entertainment (T&E) card owned by Hilton Hotels, and competed with both American Express and Diners Club. The company changed ownership after being sold by Hilton, with Citibank owning the company for a brief period during the 1960s, and finally repurchasing it in 1979, and phasing the card out of service in the late 1980s. Throughout most of the 1960s and 1970s, the Carte Blanche card was considered to be a more prestigious worldwide travel and entertainment than American Express or Diners Club, though its small cardmember base hindered its success. Carte Blanche also was the first to implement a 'Gold Card' program, but initially only as a means to recognize cardholders who were frequent users and paid their bills on time. In 2000, the Carte Blanche name was revived in the United States when Diners Club, which was also acquired by Citibank in 1981, introduced an upscale version of its card: the Diners Club Carte Blanche Card. It is an upper-level charge card on par with the American Express Platinum card. The card carries a US$300 annual fee and offers an extensive menu of perks geared toward spendthrifty travelers. It is accepted wherever regular Diners Club cards are accepted. Although Diners Club requires payment in full within 30 days, corporate accounts can pay within 60 days without penalty.
