Bank of America MasterCard
Company Information:
Before 1993, Bank of America was known as NationsBank, based in Charlotte, NC. In 1998, Nationsbank merged with the smaller San Francisco-based BankAmerica. Nationsbank acquired BankAmerica and assumed the new Bank of America name.
In 2004, Bank of America purchased Louisville, Kentucky-based
National Processing Company for $1.4 billion from National City Corp.
The renamed company- BA Merchant Services- processes one in every five
VISA and MasterCard transactions. The company also provides financial
solutions for travel and healthcare companies. BA Merchant Services is
headquartered in Louisville, KY.
Also in 2004, Bank of America acquired Boston, Massachusetts-based
FleetBoston Financial for $47 billion to solidify Bank of America's
position as the bank with the largest FDIC-rated deposit market share in
the United States with $513 billion in deposits, well ahead of the
number two bank holding company, newly-merged JPMorgan Chase-Bank One
with $353 billion in deposits and number three Wells Fargo & Co. with
$228 billion (As of June 30, 2003).
On June 30, 2005 the bank announced it would purchase credit card giant
MBNA for $35 billion in cash and stock. The Federal Reserve Board gave
final approval to the merger on December 15, 2005, and the merger closed
on January 1, 2006. The combined Bank of America Card Services
organization - including the former MBNA - will have more than 40
million U.S. accounts and nearly $140 billion in outstanding balances.
Please feel free to review the terms and conditions
of the Reward Credit Card above from Bank of America. An
outstanding financial services company.