The introduction of bank cards has brought a revolution in the payment system. The standard means of purchasing things with money 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 have bought the item?
Bank cards are making shopping simple and convenient. With the number Internet users gradually increasing, the future of online shopping is bright. It is not an exaggeration to express that internet shopping is experiencing a boom. In such market condition, using credit and debit card will almost certainly increase manifold. Buying items and services over 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 few clicks on your mouse.
One of many market leaders of credit card issuers is Bank Of America Locations. In reality, Bank of America is the largest issuer of credit cards in america. It offers surpassed its nearest rival J.P. Morgan Chase as the largest bank card issuer after its merger with one of the leading credit card issuers – MBNA.
With this particular merger, Bank of America Card Services organization has a lot more than 40 million active U.S. accounts. It really is worthwhile to consider note that Bank of America can also be the biggest issuer of atm cards.
Bank of America charge cards are some of the most flexible charge cards available in the market. Its credits cards are made to suit extensive credit situations and special needs of students and big businessmen.
Probably the most interesting features of Bank of America credit cards is its low Annual Percentage Rate (APR). Though a few 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 six months. It’s quite a good price in case your regular APR is fixed at 6.99% even though there is an introductory APR of 1.00% for a time period of half a year. Many other bank cards issued by Visa and MasterCard have higher regular APRs.
As an example, Mexicana® Airlines Visa® Platinum features a regular APR which can be 6.99% as well as an introductory APR which can be fixed at 1.9%. Although it carries an annual fee of $45, its benefits are immense. After the initial 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 dollar spent and two Frecuenta Miles for each dollar spent with Mexicana Airlines. Each year you will 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 any of its 15 partner airlines.
On the flip side, the majority of the Bank of America charge cards carry a yearly fee. Like some other bank cards, Bank of America credit cards have reward cards, bank cards for students, corporate etc. Its cards are also designed to serve the numerous needs of their diverse range of customers. It has reward programs created for air travelers and frequent shoppers. In additions a number of its credit cards has additional benefits and perks.
Though Bank of America will be the largest issuer of credit and atm cards, it lacks its own electronic payment processing network. Its smart fees to card issuers Visa and MasterCard to process charges made out of cards from Bank Of America Phone Number. After MBNA merged with Bank of America, it really is considering acquiring its very own electronic payment processing network. When it succeeds by doing this, it is going to undoubtedly akzgrb as being a serious competitor to market leaders Visa and MasterCard.
Using the merger of MBNA, Bank of America bank cards have also acquired a new dimension. MBNA was the pioneer in issuing specialty charge cards to universities, colleges, and business. It will certainly the break the marketplace monopoly of Visa and MasterCard.