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.
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