NOVEMBER 2004

MBNA Is Now Issuing
American Express Cards

When the U.S. Supreme Court refused to hear an appeal of a lower court's ruling against Visa and MasterCard in early October, the last vestige of uncertainty about the ability of banks to offer Visa, MasterCard and the products of other card brands was swept away. Since then, MBNA has become the first major Visa and MasterCard issuer to also issue American Express cards. According the Wall Street Journal, about 300,000 cards had been issued by the end of October. Card features include a rewards program as well as VIP access to dining and hotel services. And, they offer the cachet of the American Express brand. Richard Struthers, Vice Chairman at MBNA told the American Banker that their new American Express card is meant for customers who routinely charge more than $6,000 a year. That focus on the higher quality, higher spending customer makes the American Express brand a valuable addition to MBNA's arsenal of card features that it tailors for affinity groups.