The introduction of charge cards has brought a revolution within the payment system. The traditional method of purchasing things with cash is done away with and what can be more convenient than buying items on credit and repaying the amount after a month from the day you may have bought the item?
Bank cards have made shopping simple and convenient. Along with the number Internet users gradually increasing, the future of shopping online is bright. It is not an exaggeration to express that internet shopping is experiencing a boom. In these market condition, the usage of credit and debit card will almost certainly increase manifold. Buying items and services on the internet saves energy and time. As opposed to standing in a long queue, you can book your tickets or buy things with just a couple of clicks your mouse.
One of the market leaders of charge card issuers is Bank Of America Nearby. Actually, Bank of America will be the largest issuer of charge cards in america. It offers surpassed its nearest rival J.P. Morgan Chase because the largest credit card issuer after its merger using one of the leading charge card issuers – MBNA.
With this merger, Bank of America Card Services organization has more than 40 million active U.S. accounts. It is worthwhile to take note that Bank of America is also the greatest issuer of atm cards.
Bank of America charge cards are one of the most flexible bank cards available in the market. Its credits cards are designed to suit extensive credit situations and special needs of students and big businessmen.
One of the most interesting features of Bank of America charge cards is its low Annual Percentage Rate (APR). Though a number of the Bank of America charge cards have introductory APR, they are quite low, which can be usually 1.9% for a time period of usually half a year. It’s quite a good deal in case your regular APR is fixed at 6.99% even though it comes with an introductory APR of 1.00% for a period of 6 months. Most other credit cards issued by Visa and MasterCard have higher regular APRs.
As an example, Mexicana® Airlines Visa® Platinum features a regular APR which is 6.99% plus an introductory APR that is fixed at 1.9%. Although it carries a yearly fee of $45, its benefits are immense. After your first purchase, you receive 1 free companion ticket coupon. Thereafter, you may obtain a $99 companion ticket coupon annually. You can also earn 1 Frecuenta Mile for each and every dollar spent and two Frecuenta Miles for every dollar spent with Mexicana Airlines. Each year you are going to receive 2,000 anniversary mile and 4,000 Welcome Miles after you have joined the Frecuenta Program. These miles can be redeemed on Mexicana or on some of its 15 partner airlines.
On the flip side, a lot of the Bank of America charge cards carry a yearly fee. Like every other credit cards, Bank of America bank cards have reward cards, credit cards for students, corporate etc. Its cards can also be made to serve the various needs of their diverse range of customers. It provides reward programs intended for air travelers and frequent shoppers. In additions some of its bank cards has additional benefits and perks.
Though Bank of America is the largest issuer of credit and atm cards, it lacks its very own electronic payment processing network. It pays fees to card issuers Visa and MasterCard to process charges made with cards issued by Bank Of America Corporate. After MBNA merged with Bank of America, it really is considering acquiring its own electronic payment processing network. When it succeeds in doing so, it is going to undoubtedly akzgrb as a serious competitor to promote leaders Visa and MasterCard.
With the merger of MBNA, Bank of America credit cards have also acquired a new dimension. MBNA was the pioneer in issuing specialty bank cards to universities, colleges, and business. It is sure to the break the marketplace monopoly of Visa and MasterCard.