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Fidelity OKs Visa Card Alliance, Ditches BofA-AmEx

FYI: Fidelity Investments announced a new credit card partnership with U.S. Bancorp (NYSE: USB) and Visa (NYSE: V), ending its 12-year partnership with American Express (NYSE: AXP) and Bank of America (NYSE: BAC) in the process.
Regards,
Ted
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Comments

  • see Bill Pay / BoA, where this is discussed in detail (double OT); all going to happen automatically
  • Elan financial services will manage the Visa card, and it has quite a few disgruntled (mostly former) customers commenting in 2015 on a review site found via Google. I didn't check out other providers, and I know happy users don't comment, but I wonder. Users seemed a bit happier in 2014.
    I'm fairly sure Fido makes money on the switch, and I have been using my Fido AmEx, but PenFed has a Visa that's better than the Fido AmEx in many ways and good customer service reps.
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