Bank of America, Visa renew relationship

Bank of America announced on Oct. 2, 2006, that it has extended its 30-year card-branding partnership with Visa USA for an additional six years.

The renewal, which is retroactive to Jan. 1, continues until the end of 2011.  Under the deal, Bank of America, the No. 2 U.S. bank by assets, remains the largest issuer of Visa-branded credit cards, debit cards, and prepaid cards, according to a Visa press release.

Using its 13,432 member financial institutions, Visa has issued over 510 million Visa-branded cards domestically.  Bank of America has expanded its credit card business via its January acquisition of MBNA Corp.  Bank of America has also partnered with American Express and recently started to offer American Express credit cards.

This new agreement would seem to quell recent rumors that Bank of America was considering the development of a competing card network.  Bank of America was the original architect and marketer of the BankAmericard, which was the precursor to present day Visa network. 


To comment on this story, write

More credit card news.

Join the discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

The editorial content on is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.

Weekly newsletter
Get the latest news, advice, articles and tips delivered to your inbox. It's FREE.

Updated: 03-21-2019