WILMINGTON, DE – MBNA, the world’s largest independent credit card lender, announced today that Charles Schwab has selected MBNA to issue the Charles Schwab Bank Visa credit card. The card is designed to appeal to the institution’s more than three million brokerage clients.
Benefits of the Charles Schwab Bank Visa credit card include no annual fee, a low variable annual percentage rate, premium Visa Platinum card benefits, world-class Customer service, and for those Customers who qualify, credit lines that are the highest in the industry.
The Charles Schwab Bank Visa credit card also offers the WorldPoints Rewards program with enhanced benefits. In addition to awarding points redeemable for air travel, hotel, cash, and merchandise rewards, the program offers Customers discounted companion tickets for round-trip air travel within the continental U.S. This option gives clients the opportunity to spend 25,000 points for their first ticket and just 15,000 points for the second ticket with the same itinerary. Additional program benefits designed to appeal to investors include the ability to accelerate the earnings of points when the Schwab Bank Visa credit card is used for qualifying Schwab brokerage charges, and the option to redeem reward points for Schwab equity trades.
Michelle Shepherd, Group Executive of MBNA, said, “MBNA is pleased to be associated with Charles Schwab. Throughout its 30-year history, Charles Schwab has dedicated itself to providing excellent value within the brokerage marketplace. Schwab clients deserve a credit card that provides them with a comprehensive portfolio of reward options, including equity trades.”
About Charles Schwab Bank
Headquartered in Reno, Nevada, Charles Schwab Bank, N.A. provides checking, savings, money market and CD accounts, home mortgages, ATMs, credit cards and debit cards. Deposits are FDIC insured. Clients can access bank services at the banking office in Reno and by phone, mail or www.schwabbank.com and get information about the Schwab Bank Visa credit card from Schwab Investor Centers. Charles Schwab Bank, N.A. is an Equal Housing Lender. Charles Schwab Bank, N.A. and Charles Schwab & Co., Inc. are affiliates of each other, and both are subsidiaries of The Charles Schwab Corporation. Brokerage products and services offered by Charles Schwab & Co., Inc., Member SIPC, are not insured by the FDIC, are not deposits or obligations of, or guaranteed or endorsed by, Charles Schwab Bank, and are subject to investment risk, including possible loss of the principal invested. Deposit and lending products are offered by Charles Schwab Bank, N.A., member FDIC and an Equal Housing Lender.
About MBNA
MBNA, the largest independent credit card lender in the world and the recognized leader in affinity marketing, is an international financial services company providing lending, deposit, and credit insurance products and services. MBNA credit cards and related products and services are endorsed by more than 5,000 organizations worldwide. MBNA employs more than 28,000 people, each of whom is committed to satisfying the Customer. For more information, visit the company’s web site at www.mbna.com.
