BANKING

Auto Club to Offer Mastercard: Joining the rush of new credit card issuers, the Automobile Club of California will offer Mastercards to members with no annual fee, a variable interest rate now at 14.9% and bonus gifts. Members may also buy fee-free traveler’s checks with the card at Auto Club offices without paying cash advance fees or interest for 25 days, said Peter MacDonald, the insurer’s chief financial officer. The credit cards will be issued through Mellon Bank, which will use its usual standards to qualify those of the Auto Club’s 3.7 million members who apply.