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December 14, 2004 03:13 PM

MBNA Pitches Rival Visa Card


Excerpt: Just weeks after it began issuing cards from American Express Co., MBNA Corp. is telling potential customers that a rival card from Visa USA Inc. is "the only card you need to carry."

   

Just weeks after it began issuing cards from American Express Co., MBNA Corp. is telling potential customers that a rival card from Visa USA Inc. is "the only card you need to carry."

MBNA, one of the nation's largest credit-card issuers, has begun to pitch Visa's Signature card to the same type of affluent customers who also are being offered American Express cards.

Separately, American Express, which formed the MBNA partnership earlier this year, announced that Citigroup Inc. will start issuing American Express cards in 2005. After years of litigation, banks that issue cards from Visa and MasterCard International Inc. can now also issue American Express cards. Speculation about a dea l with Citigroup had been widespread since last month.

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American Express, Citi Ink Deal (December 26, 2004)
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 ...
In the credit card world, it pays to be persistent. American Express, which fought for years for the right to sign deals with United States banks that issue cards on the Visa and MasterCard networks, said late yesterday that it had won a contract with ...
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