December 26, 2004 08:40 AM
American Express, Citi Ink Deal
Excerpt: Just weeks after a court decision cleared the way for American Express to market its card with Visa and MasterCard issuers, the company announced it has entered into an agreement with Citigroup to issue the cards.
Just weeks after a court decision cleared the way for American Express (AXP: news, chart, profile) to market its card with Visa and MasterCard issuers, the company announced it has entered into an agreement with Citigroup (C: news, chart, profile) to issue the cards.
Citigroup is among the nation's biggest credit card issuers.
American Express shares rose 1 percent to $55.60 in early Tuesday trade, while Citi shares added 0.3 percent to $46.89.
The cards, issued by Citibank, will be available in late 2005, said American Express. Financial terms of the deal were not disclosed.
"Citibank is a tremendous addition to the American Express network," American Express Chairman and CEO Kenneth I. Chenault, said in a statement.
Analysts said the deal should benefit both Citigroup and American Express. AmEx will gain higher volumes and help promote the card among merchants.
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The Downside of Cash Advance Checks - Feb 07, 2005
Cash Is Favored Over Trip In Card Loyalty Plans - Feb 04, 2005
Younger Americans Going Deeper Into Debt - Jan 23, 2005
Capital One Sued Over 'Deceptive' Ads - Jan 01, 2005
Frequent-Flier Cards Delay Fee Collection - Dec 27, 2004
It Pays To Surf For Auto Loans Online - Dec 27, 2004
Perishable Credit Card Numbers Take The Fear Out Of Web Shopping - Dec 27, 2004
Citigroup Says It Will Issue American Express Cards - Dec 17, 2004
MBNA Pitches Rival Visa Card - Dec 14, 2004
Credit Card Loyalty Put to the Switch Test - Dec 09, 2004
Credit Cards Offer Safety In Buying Online - Dec 06, 2004
How to Deal With Your Debts - Dec 04, 2004
FACTA & Your Credit - Dec 03, 2004
Warning On Internet Loans - Dec 02, 2004
High Court Sets Truth In Lending Limit - Dec 02, 2004
Free Credit Reports May Reveal Surprises - Dec 01, 2004
Free Credit Reports Coming, With Pitches - Nov 30, 2004
Teens Need To Embrace Identity Protection - Nov 30, 2004
What to Do About Your Credit - Nov 29, 2004
A Generation Weighed Down By Debt - Nov 28, 2004
7 Ways to Improve Your Credit Score - Nov 25, 2004
Free Credit Report Details Announced - Nov 25, 2004
One Late Payment Can Hit Finances Hard - Nov 25, 2004
Free Credit Reports Are On The Way - Nov 23, 2004
Card Debt - Nov 22, 2004
Soaring Interest Compounds Credit Card Pain for Millions - Nov 20, 2004
Gas Cutter - Nov 02, 2004
Payment Rates - Nov 02, 2004
Watch Spending Habits To Keep Debt From Going Bad - Feb 07, 2005
The Downside of Cash Advance Checks - Feb 07, 2005
Cash Is Favored Over Trip In Card Loyalty Plans - Feb 04, 2005
Younger Americans Going Deeper Into Debt - Jan 23, 2005
Capital One Sued Over 'Deceptive' Ads - Jan 01, 2005
Frequent-Flier Cards Delay Fee Collection - Dec 27, 2004
It Pays To Surf For Auto Loans Online - Dec 27, 2004
Perishable Credit Card Numbers Take The Fear Out Of Web Shopping - Dec 27, 2004
Citigroup Says It Will Issue American Express Cards - Dec 17, 2004
MBNA Pitches Rival Visa Card - Dec 14, 2004
Credit Card Loyalty Put to the Switch Test - Dec 09, 2004
Credit Cards Offer Safety In Buying Online - Dec 06, 2004
How to Deal With Your Debts - Dec 04, 2004
FACTA & Your Credit - Dec 03, 2004
Warning On Internet Loans - Dec 02, 2004
High Court Sets Truth In Lending Limit - Dec 02, 2004
Free Credit Reports May Reveal Surprises - Dec 01, 2004
Free Credit Reports Coming, With Pitches - Nov 30, 2004
Teens Need To Embrace Identity Protection - Nov 30, 2004
What to Do About Your Credit - Nov 29, 2004
A Generation Weighed Down By Debt - Nov 28, 2004
7 Ways to Improve Your Credit Score - Nov 25, 2004
Free Credit Report Details Announced - Nov 25, 2004
One Late Payment Can Hit Finances Hard - Nov 25, 2004
Free Credit Reports Are On The Way - Nov 23, 2004
Card Debt - Nov 22, 2004
Soaring Interest Compounds Credit Card Pain for Millions - Nov 20, 2004
Gas Cutter - Nov 02, 2004
Payment Rates - Nov 02, 2004
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