The introduction of bank cards has brought a revolution in the payment system. The conventional way 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?
Charge cards make shopping simple and convenient. Along with the number Web users gradually increasing, the way forward for online shopping is bright. It is not an exaggeration to state that online shopping is experiencing a boom. Such market condition, the usage of credit and debit card will almost certainly increase manifold. Buying items and services on the internet saves time and energy. Instead of standing in a long queue, you can book your tickets or buy things with just a few clicks your mouse.
One of many market leaders of bank card issuers is Bofa Near Me. In reality, Bank of America is the largest issuer of credit cards in the US. It provides surpassed its nearest rival J.P. Morgan Chase because the largest charge card issuer after its merger with one of the leading credit card issuers – MBNA.
Using this merger, Bank of America Card Services organization has more than 40 million active U.S. accounts. It is worthwhile to consider note that Bank of America can also be the biggest issuer of debit cards.
Bank of America bank cards are among the most flexible credit cards available in the market. Its credits cards are made to suit extensive credit situations and special needs of students and big businessmen.
One of the most interesting attributes of Bank of America charge cards is its low Annual Percentage Rate (APR). Though some of the Bank of America charge cards have introductory APR, these are quite low, which can be usually 1.9% for a time period of usually six months. It’s quite a good price if your regular APR is fixed at 6.99% even though it comes with an introductory APR of 1.00% for a period of half a year. Most other bank cards issued by Visa and MasterCard have higher regular APRs.
For instance, Mexicana® Airlines Visa® Platinum includes a regular APR that is 6.99% as well as an introductory APR which is fixed at 1.9%. Even though it carries a yearly fee of $45, its benefits are immense. After your first purchase, you receive 1 free companion ticket coupon. Thereafter, you are going to get a $99 companion ticket coupon each year. You can also earn 1 Frecuenta Mile for each dollar spent and two Frecuenta Miles for every dollar spent with Mexicana Airlines. Annually you are going to receive 2,000 anniversary mile and 4,000 Welcome Miles once you have joined the Frecuenta Program. These miles can be redeemed on Mexicana or on some of its 15 partner airlines.
On the flip side, most of the Bank of America bank cards carry an annual fee. Like some other credit cards, Bank of America bank cards have reward cards, bank cards for students, corporate etc. Its cards can also be created to serve the various needs of their diverse range of customers. It offers reward programs intended for air travelers and frequent shoppers. In additions a few of its charge cards has additional benefits and perks.
Though Bank of America will be the largest issuer of credit and debit cards, it does not have its own electronic payment processing network. Its smart fees to card issuers Visa and MasterCard to process charges made out of cards issued by Bank Of America Hq. After MBNA merged with Bank of America, it is considering acquiring its very own electronic payment processing network. When it succeeds by doing this, it is going to without doubt akzgrb being a serious competitor to market leaders Visa and MasterCard.
With the merger of MBNA, Bank of America charge cards have likewise acquired a brand new dimension. MBNA was the pioneer in issuing specialty bank cards to universities, colleges, and business. It will certainly the break the marketplace monopoly of Visa and MasterCard.