News by SB Informer

Bank of America American Express Rewards Card Launched

SB Informer
Tuesday, July 4, 2006; 06:43 AM

Bank of America has launched the Bank of America American Express Rewards Card -- the first Bank of America credit card to be accepted for payment on the American Express global network. For the first time, Bank of America retail customers will benefit from the benefits and privileges of acceptance on the American Express global card network, as well as Bank of America's robust rewards program and outstanding service record.

The new card features a clear plastic card design, patented by American Express. The product also offers one of the richest rewards programs currently available from Bank of America, including double points for all dining and travel purchases. Card members also have access to exclusive merchant offers available only through American Express, as well as enhanced peace of mind through travel and purchase security features.

"The Bank of America American Express Rewards Card represents an important first step in what we believe will be a very successful partnership between two of the premier brands in card payment products," noted Bank of America Card Services President Bruce L. Hammonds. "Later this year we will introduce a broader line of innovative premium cards, marketed exclusively to Bank of America customers for use through the American Express network."

"We are delighted to partner with Bank of America, as well as to continue to build upon the successful relationship we launched with MBNA," said Peter Godfrey, President of American Express Global Network Services. "Bank of America is now offering its high-spending customers greater choice through an exceptional new family of products, with customized rewards and services that will help grow their franchise in the coming years."

New Card Applicants Have Opportunity to Win World-Class Getaway Vacations

In addition, when applying for the card online, consumers can enter to win one of four amazing getaway vacations, including a Greek Island cruise experience or an America's Cup racing experience in St. Maarten. Applicants also can qualify to win one of 1,000 instant prizes, including a Canon PowerShot Digital Camera and more.

The new Bank of America American Express Rewards card will include features such as:

Exceptional Rewards and Payment Options

- Complimentary enrollment in Bank of America WorldPoints(SM)
- One point per dollar spent on retail purchases; double points for travel and dining until 2007
- Redemption options include cash, travel with no blackout dates, brand-name merchandise and gift cards
- Flexible payment option for cardmembers to revolve balance each month
- No annual fee

Broad Range of Travel and Retail Benefits

- Access to 2,200 American Express® Travel Service locations in more than 140 countries
- Emergency assistance service, including medical referrals to physicians and hospitals, and replacements of medical prescriptions
- Automatic travel accident insurance, car rental loss and damage insurance
- Retail protection against theft or damage for goods purchased with this card

Special Privileges

- Cardmember offers with top-name retail and travel American Express merchants
- VIP access to dining, hotel and sought-after tickets from personal Concierge services
- Identity theft recovery and absolute fraud protection

World-Class Service

- Bank of America's world-class customer service, plus access to the Bank of America Rewards American Express Card online site at http://www.bankofamerica.com/

About Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 54 million consumer and small business relationships with more than 5,700 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than 19 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. http://www.bankofamerica.com/

About American Express

American Express Company is a diversified worldwide travel, financial and network services company, founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, and business services. Since 1996 American Express has been aggressively pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express has gained even broader reach for its network worldwide. American Express has now established almost 100 card-issuing partnership arrangements in nearly 110 countries.

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