Bank Of America Credit Card

Bank of America is an icon as far as banking is concerned in the United States. It has a chequered history and presently has the largest deposits as far as commercial banking is concerned in the United States. The Dow Jones Industrial Average is a barometer of the New York stock exchange. Bank of America has the distinction of having the largest market capitalization of companies that are not part of the Dow Jones Industrial average. The magnitude of operations of the bank can be gauged from the fact that last year to be precise on July 19, 2006; Bank of America surpassed Citigroup for the first time with an income of $ 5.48 billion during the second quarter. In addition to banking activities Bank of America also issues debt and credit cards under both the Visa and Master card logo. Even in this field Bank of America has carved a niche for itself as one of the premier card providers for U.S. businesses.

A word about the history of this major credit card provider would not be out of place. The present name came into being only in 1993. Before this date it was known as NationsBank. It was then based in Charlotte, NC. In 1998, NationsBank merged with BankAmerica and assumed the Bank of America name. Bank of America has a rich lineage and can trace its roots to the American Bank of Italy. This bank was founded in San Francisco by Amadeus Giannini an Italian immigrant in 1904. Right from that time and through the disaster of 1906 San Francisco earthquake the bank has won the confidence of its investors. No wonder even in the issue of credit cards the bank holds sway in the American market.

The bank has gone into the issue of credit cards ion a massive scale. The operations are now greatly sophisticated and advanced technology benefits are available to its credit card customers. The essence of bank of America thought is to be the numero uno in the domestic market. This position it has achieved through some vibrant and important acquisitions and mergers. As a result of its mergers and acquisitions, Bank of America is now the largest issuer of credit, debit and prepaid cards in the world based on total purchase volume. Bank of America has also acquired MBNA for $34.2 billion in January this year. This acquisition has had an electrifying effect in the market and has made Bank of America the largest issuer of credit cards in the world. The bank is also expanding its cards businesses in Canada, England and Spain. Entry into the European markets is also underway.

Bank of America has card issue programmers that suit specific needs of individuals. They also have a program optimization and consulting services that help the customer expand the traditional card program. Bank of America has also the latest advancements in technology and passes these benefits to its card holders. They have a solution payable programme that is a great help. Additionally payables solution helps the customer move more from paper to electronic payments with ease. Thus the customer can have a seamless integration with his accounts.

The Bank of America payables Solution is a simple payment option that helps you moves from paper to electronic payments. This has a beneficial effect on your finances as bank fees and processing costs are reduced. Large corporations, city and state government agencies, school districts and universities who want to get the maximum benefits of electronic payments can expand their- traditional card program. ESolution is valuable to customers in helping to integrate card payments into their procurement or accounts payables process.

Another important feature of bank of America credit cards is the 0% introductory APR on balance transfers through your first 12 billing cycles

Rewards include cash, brand-name merchandise, no-blackout travel, hotel discounts, and gift certificates

Having carved for itself a prominent name in the domestic market Bank of America has trained its sights as far as credit cards are concerned overseas as well. Bank of America plans to issue a joint Chinese credit card with partner China Construction Bank next year. With this issue the banks regional staff will increase by 20 percent in the next two years. Bank of America issues nearly 400 types of credit cards that range from student cards to rewards cards. In almost all offers a distinct advantage of these cards is that the bank allows a 0% APR for 12 billing cycles. Since these cycles are monthly one gets almost a year of free credit on balance of transfers.

Bank of America has a special offer for the American armed forces. They issue special credit cards that cove the entire gamut of service ranks and positions. Prominent cards are the Air Force Sergeants association credit card which is applicable to non commissioned ranks. Then they have credits for the association of graduates of the American Military academy as well as association of the graduates of the Air force Academy. These are cards that cater to the officer cadre of the United States armed forces. There are also credit cards for the Auxiliary enrollments as well as women. All cards carry 0 % introductory APR on balance transfer for 12 billing cycles. In addition for all your dollar spends you earn points that can be redeemed for merchandise, gift certificates and even cash. Bank of America also levy?s no annual fee for their cards as well. The bank also promises online account access and state of the art fraud protection. The bank is also one of the few that is concerned with environment. It has recently announced a $20 billion initiative to support the growth of environmentally sustainable business activity to address global climate change.

Bank of America cards can be applied for on line. Its quite simple really. The only hitch is that an income of $ 15000 annually would be a requirement. However this is not applicable to the student card. Not with standing anything bank of America credit cards certainly have made it big in the American market.

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