I’d send you an example but I don’t have 10 yet. Card Top is not a single poly it’s a very flat box. Normals mostly pointing inward. Card Mat was set to Back for the Side (in the texture tag) so it’s alpha was only showing the flat grey of the front side of the poly that is the bottom of the box that ‘card top’ really is – it was not a failure of alpha, just not enough alpha to get through both sides of all polys in the box.
You can do it with a single texture. Highlights was doing nothing except giving you an alpha (because it was set to Both for Sides) so toss it, put the bump map in the bump channel of Card Mat, toss the ‘border bump’ material and set Side in Card Mat’s texture tag to both.
Not needed here but for more info on stacking materials and mixing textures search Help for Texture Tag choose Tag Properties (Texture Tag) and scroll to close to the bottom (Texture Layering and Mix Textures). If you’ve read that already, never mind 🙂