dcsimg Bank of America Completes Acquisition of MBNA - indexcreditcards.com

Credit Card Calculators

How long will it take to pay off my credit card?

In the News
  • "As comprehensive a list as you'll find of all the credit card offers on the table now."

Bank of America Completes Acquisition of MBNA

by Peter Andrew
Bank of America Completes Acquisition of MBNA

NOTE: To offer our weekly summary of credit card rates, Credit Card Monitor, in your publication or on your Web site, please contact syndicate@indexcreditcards[dot]com.


Bank of America Completes Acquisition of MBNA With the acquisition of MBNA Corp. completed yesterday, Bank of America rang in the new year as the United States’ largest credit card issuer in terms of balances. The company claims to now have 40 million active accounts and approximately $140 billion in credit card balances. While the combining of Bank of America and MBNA creates a company that holds about a 20 percent share of the credit card market, it will also result in the loss of about 6,000 jobs between the two companies, as Bank of America looks to cut costs by $850 million a year.

Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.

Published  (Modified )

Share this article with: