21 December 2005
Another ally for Amex
In the fall of 2004, I reported that American Express and Discover were now free to seek alliances with banks that also issued Visa and/or MasterCard, and that MBNA, since acquired by Bank of America, would be the first financial institution to do so.
Citibank has joined the club: Citi will be issuing American Express cards later this month, and by mid-January will have a full suite of Amex-branded card products.
As with the MBNA Amex products, I suspect these will be of interest mostly to customers who have a working relationship with the institution already, since it's not particularly difficult to get an Amex card from American Express itself.
Update, 7:40 pm: American Express has confirmed that Bank of America, separately from the B of A/MBNA merger, will issue Amex cards of its own.Posted at 7:01 AM to Common Cents