First Nat'l dropping $20 fee for heavy card users

The First National Bank of Chicago said yesterday it wouldeliminate the $20 annual fee on its credit card for customers whocharge at least $2,400 in goods in one year.

The program, which was announced at the bank's shareholders'meeting, would take effect Aug. 1. All customers would be eligible,including those who pay the balance in full each month.

The program is designed to make First National's card, whichcarries a 19.8 annual percentage interest rate, more competitive andgive customers who have more than one bank card an incentive to usethe First National card more often.

Barry F. Sullivan, bank chairman, said all of the bank's marketresearch "shows …