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On June 10, 2006, MBNA changed its name to FIA Card Services, National Association (FIA), which is not an acronym. On October 20, 2006, Bank of America, National Association (USA), a subsidiary of Bank of America Corporation, merged with and into FIA. [10] This purchase was a reunion of sorts.
The acquisition of MBNA provided Bank of America a leading domestic and foreign credit card issuer. The combined Bank of America Card Services organization, including the former MBNA, had more than 40 million U.S. accounts and nearly $140 billion in outstanding balances. Under Bank of America, the operation was renamed FIA Card Services.
Visa Inc. (/ ˈ v iː z ə, ˈ v iː s ə /) is an American multinational payment card services corporation headquartered in San Francisco, California. [2] [5] It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards.
Why we like this card: The Alliant Cashback Visa® Signature Card offers an impressive 2.5% cash back on all purchases (up to $10,000 per billing cycle) to those who can meet certain criteria ...
Retrieved from "https://en.wikipedia.org/w/index.php?title=FIA_Card_Services&oldid=211156030"
Both companies have been in litigation for nearly two decades over their dominance in the cards market. Visa and Mastercard agreed in 2019 to pay U.S. merchants $5.6 billion to settle damages ...