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December 17, 2004 09:10 AM

Citigroup Says It Will Issue American Express Cards


Excerpt: 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 Citigroup, the biggest credit card company in the world.

   

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 Citigroup, the biggest credit card company in the world.

The deal comes a month after MBNA, the third-biggest credit card company in the United States, introduced its first American Express card, and two months after the final blow was dealt to the exclusionary rules that had kept American Express away from banks.

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