Visa, MasterCard to Issue Post-1999 Cards

Visa and MasterCard plan to soon lift restrictions against banks issuing credit cards that expire in 2000 or later, saying they’ve largely fixed transaction glitches stemming from a worldwide computer problem. The two largest credit card companies imposed the restrictions in October after a technological fluke caused computers to reject consumers’ cards that expire after 1999. Because of a bug afflicting companies worldwide, the vast majority of the world’s software and hardware translates 2000 into the first day of 1900. The limits will be lifted starting Oct. 1, and millions of cardholders are expected to start getting the new Visa and MasterCards by early next year. American Express Co. said it did not know when it will start issuing cards with expiration dates after 1999.