04.01.2016 07:47:09

Fidelity Drops AmEx, BofA As Credit Card Partners; Chooses Visa, U.S. Bancorp

(RTTNews) - Fidelity Investments has decided to drop American Express Co. and Bank of America Corp. as partners for its cash-back credit card, amid fierce competition. The relationship had lasted about 12 years.

The company, in turn, will have Visa Inc. and U.S. Bancorp as network and issuer of the Fidelity card, which has which has around 24 million customers.

Costco Wholesale Corp. last year decided to replace AmEx with Visa and Citigroup Inc. JetBlue Airways Corp. also broke a relationship with AmEx and instead chose MasterCard Inc. and Barclays Plc.

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American Express Co. 249,95 1,11% American Express Co.
Bank of America Corp. 37,03 -2,91% Bank of America Corp.
Visa Inc. 316,85 0,54% Visa Inc.