Bank of America Launches Its First American Express Card

Bank

of America Launches Its First American Express Card

American Express continues to broaden its network of major credit

card issuing partners, this time with the launch of the Bank

of America American Express Rewards Card. While American Express

has a long way to go in matching Visa or MasterCard's thousands

of bank partnerships, this deal, in addition to recent agreements

with Citibank and MBNA (a Bank of America subsidiary), means

that American Express is now actively marketing its brand in

partnership with three of the largest issuers in the United

States.

The

Bank of America American Express Rewards Card offers a points

program with double points on dining and travel purchases, including

hotel stays, car rentals, and airfare through the end of 2006,

and one point per dollar for any other purchases. Points can

be redeemed for cash, merchandise, travel and gift certificates.

American

Express has been aggressively broadening it payment network

ever since winning a legal battle with MasterCard and Visa,

in which American Express accused the two of shutting out competition

by requiring exclusive contracts that forbid other partnerships.

Discover Card benefited from this change as well, and has been

adding to its array of partners as well.

Published 07/03/06 (Modified 05/07/12)