U.S. Bank’s Elan Financial Services business unit will issue no-annual-fee Fidelity Rewards Visa Signature and Fidelity Investments 529 College Rewards Visa Signature cards under a new long-term contract. It will also acquire Fidelity Investments’ existing co-branded credit card portfolio, which is a mix of American Express, MasterCard, and Visa brand cards. All were issued by the FIA Card Services subsidiary of Bank of America. Amex cards accounted for the largest segment of Fidelity’s portfolio.
FIA Card Services completes its exit of the agent bank card business with the sale of th...
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