Luxury Card Announces New Patent

Luxury Card Announces New Patent

Luxury Card has announced a unique 57th patent on its ubiquitous line of exceptional, premium credit cards. The new patent relates to the cards’ propriety design and composition, including a unique carbon and metal construction.

Luxury Card Now Holds 57 Patents

Luxury Card takes great pride in offering its members attention to detail not found in many other credit card issuers. Part of this care goes into how Luxury Card’s products look and feel.

All Luxury Cards feature a hefty metal design. This in itself is not unique, however. The Amex Platinum Card and Chase Sapphire Reserve, for example, also feature an all-metal body. Where Luxury Card differs is that it enjoys an unprecedented level of precision and design.

Luxury Card recently announced the 57th patent for its namesake line of cards. According to a press release, Luxury Card hails the news as an example of its unique approach to luxurious design:

The cards themselves are special, considering the proprietary materials and unique design. Each patent protects the exclusive designs so Cardmembers can carry a rare level of craftsmanship in their wallets.

“We are dedicated to our loyal customers, and that begins with special attention to our card design,” said Marina Kissam, Vice President of Customer Experience at Luxury Card. “These new patents speak to our commitment to the customer as well as our promise to innovate to be the best.”

About Luxury Card

Luxury Card is a global leader in the metal credit card marketplace. The Luxury Card brand currently features three cards, the Mastercard® Gold Card™, Mastercard® Black Card™, and Mastercard® Titanium Card™. These impressive products provide a weighty (22g), patented, stainless steel and carbon construction, cash back rewards on every purchase, and access to the exclusive Luxury Card Concierge® service.

Luxury Card Concierge® caters to cardmembers’ every need and is available 24/7 by live chat via the Luxury Card App, phone, and email. Dedicated Concierge agents assist with travel itineraries, dining reservations, research, and gift sourcing.

Current Luxury Card Offers

Mastercard® Gold Card™
luxury card mastercard black card
Mastercard® Black Card™
mastercard_titanium_card
Mastercard® Titanium Card™.

Featured photo by CreaPark / PixaBay

Seneca Women, Mastercard Launch New Credit Card

seneca women credit card

Last updated on March 15th, 2021

The empowerment of women in the global economy has been a struggle for centuries. In an effort to increase accessibility, Seneca Women, a leading women’s advocacy and media group, is taking steps to improve access to credit to underserved women and help support women-owned businesses at the same time with its new partnership with Mastercard and Deserve.

About Seneca Women’s New Mastercard From Deserve   

The Card by Seneca Women’s main feature is the 3% cash back cardholders will earn when they shop at women-owned businesses (included in the Seneca Women Marketplace). At launch, the card will include over one million women-owned businesses in this category, making it a versatile cash back rewards card for those seeking to save while advancing the cause of women’s equality in the global economy.

The Card by Seneca Women will also provide 2% cash back on the cardholder’s top spending category from each billing period and 1% back on all other purchases. Rewards are redeemable for the traditional range of options, including statement credits, travel booking, gift cards, and more.

Cardholders can also use their cash back rewards to support women-focused nonprofits in the Women’s Economic Future Fund. The fund is a nonprofit created through a partnership between Seneca Women and Rockefeller Philanthropy Advisors.

Cardholders will also have continual access to the Seneca Women’s community, including the Marketplace, special events, and media programming. The card will also feature no annual fee.

Helping to Accelerate Gender Equality

“Connecting consumers to women-owned businesses and nonprofits has never been more important than now,” said Kim Azzarelli, Co-Founder and CEO of Seneca Women, in a press release. “Women-owned businesses were hit particularly hard by the pandemic, and they also have the potential to help drive economic renewal. Women also influence the lion’s share of purchasing power. The Card and Marketplace reward consumers who use their purchasing power to shop from women-owned businesses. It also provides a way to use rewards to support nonprofits that advance women at a time when these nonprofits need it most.”

Those sentiments are echoed by Seneca Women partner Sharon Brown, Board Member Board Member of Intercontinental Exchange, Neuberger Berman, and the first African American Commissioner of the U.S. Commodity Futures Trading Commission:

“It was less than 50 years ago that women could be turned down for a credit card based solely on their gender. And today, women continue to face inequalities, from racial and gender pay gaps to lack of access to capital for women entrepreneurs to disproportionately bearing the economic impact of the pandemic. The Card by Seneca Women is part of our answer to these challenges. We believe the Card offers a meaningful way to help accelerate gender equality and create a better future for all.” 

Available for Waitlisting

The Card by Seneca Women is expected to launch in the Spring of 2021. Those interested in the card can join the waitlist at the Seneca Women website here.

About Seneca Women

Seneca Women is a global leadership and media company centered on the principle that advancing women and girls will fast-forward us to a more equitable and prosperous world. For more information on Seneca Women, their media, and the Women’s Economic Future Fund, please visit www.senecawomen.com.

Related Article: New Credit Card Designed Especially for Women Announced

Featured photo by Sarah Pflug / Burst

Affirm Announces Buy Now, Pay Later Debit Card

buy now pay later affirm card

Buy now, pay later company, Affirm, will soon offer a debit card. The new product will work in conjunction with Affirm’s traditional installment loans and allows customers to pay over time in much the same way as a conventional credit card. The card so closely resembles a credit card in use that Affrim is calling it the “anti-credit card.”

Affirm Launches Debit Card

Affirm, one of the leading names in the growing buy now, pay later marketplace, announced its first card product – a debit card – recently. The card seeks to expand the company’s reach beyond online point-of-sale loans to accommodate in-store shopping, providing many of the benefits of a credit card – including making purchases and paying those off later, with interest.

Speaking with CNBC, Affirm CEO and founder, Max Levchin, denied the close comparisons with traditional credit cards, saying that the Affirm debit card is something completely different.

“It should not be called a credit card, for sure, in part because it’s sort of the anti-credit card. I don’t mean to be provocative,” Levchin told CNBC’s Closing Time. “You know exactly what you’re going to pay. You know exactly what the schedule for payment is, and there will be no late fees under any circumstances, so I think it’s sort of the exact opposite in many ways. It does serve the same purpose: You get to pay for things right now or over time.”

Levchin was quick to highlight that the Affirm debit card differs from credit cards in that there are no late fees, no hidden fees, and no compounding interest. It should be noted, however, that many credit cards also lack these fees or charges.

Who Should Consider the Affirm Debit Card?

Who exactly is Affirm targeting with its debit card? Levchin believes Affirm’s primary base is younger consumers – especially those with no credit card experience.

“I do know that our user base, primarily millennials and Gen Zers, love their debit cards. They love to transact with them offline,” he said, “and the purpose of this product was to bring ‘buy now, pay later’ functionality that they’ve really loved online — and really offline as well with us, but have never had in a card — to where they are.”

What Are the Benefits of Buy Now, Pay Later?

One of the most significant benefits of buy now, pay later services is that they typically don’t need credit approval. Because these services conduct a soft pull on your credit report, there is usually no impact to your credit score when applying.

Another benefit of buy now, pay later is the ease of use the services offer. Applying for financing directly within many payment platforms is an excellent, streamlined feature. This perk can take much of the stress out of funding larger purchases.

Related Article: Buy Now, Pay Later: Is It Worth It?

Featured photo by Affirm

Amex Offering Limited Edition Centurion Card

amex offering limited time centurion card

Last updated on June 8th, 2021

The Centurion Card from American Express is one of the most exclusive payment cards on the planet. Now, the it is getting even more exclusive, thanks to a limited-time collaboration between Amex and Dutch artist, Rem Koolhaas.

Limited-Edition Centurion Card for Art Lovers

American Express is giving its art-savvy Centurion Cardholders a chance at an exclusive piece of conceptual art. The company is offering limited-time-only Centurion Cards as part of an exclusive collaboration with Dutch conceptual artist and architect, Rem Koolhaas.  

Koolhaas is a Dutch-born architect and artist who is also a Professor in Practice of Architecture and Urban Design at the Graduate School of Design at Harvard University. According to Wallpaper, a design and architecture magazine, Amex first approached the firm back in 2019 after coming across the Office for Metropolitan Arts’ (OMA, Koolhaas’s firm) very first commission in Boompjes in the early 1980s. The new card design is Koolhaas’s smallest ever.

Rem Koolhaas AMEX
The limited-edition Koolhaas design

Speaking to Wallpaper, the artist highlighted the value of the Amex partnership and graphic design to his work. “I see graphic design as a crucial domain to project ideas in,” he said. “Architecture is also a domain to project ideas in. The similarity (between the disciplines) is about ideas, and these can take any form.”

About the American Express Centurion Card

The American Express Centurion Card is the stuff of legend. The card, also known as the Amex Black Card, is an invitation-only card and is considered to be one of the most exclusive in the world. There are no official requirements to secure an invitation, but conservative estimates place an annual Amex card spend of around $500,000 as a potential entry point.

The Centurion Card offers ultra-exclusive perks and privileges, including personalized concierge service (including your own concierge representative), VIP airport meet and greet, lounge access, and more. The cost for this ultra-luxurious lifestyle? The Centurion Card’s annual fee is $5,000 per year, with a $10,000 initiation fee.

Related Article: American Express Introduces Cell Phone Insurance Perk

Featured photo by Wallpaper / OMA

Luxury Card and Riedel Crystal Announce Partnership

Last updated on April 26th, 2023

Luxury Card has announced a partnership with Riedel Crystal, a leading, family-owned glassware company. The new partnership will provide Luxury Cardholders with special savings on Riedel orders through August 31, 2021.

Luxury Card – Riedel Crystal Partnership

The Riedel Crystal name is synonymous with exceptional quality. Riedel is a 265-year-old, family-owned company known for its creation and development of varietal-specific stemware. Through eleven generations, Riedel has been at the forefront of stemware design and innovation.

Riedel was actually the first glassware company to recognize the impact of glass shape on taste and carefully craft evolutionary designs complementing alcoholic beverages and other drinks since 1756.

Offer Expiration

As mentioned, the new Luxury Card and Riedel Crystal partnership will provide Luxury Card members with special savings and discounts on Riedel stemware and products. This partnership is set to run through August 31, 2021.

About Luxury Card

Luxury Card is a global leader in the metal credit card marketplace. The Luxury Card brand extends to three cards, the Mastercard® Gold Card™, Mastercard® Black Card™, and Mastercard® Titanium Card™. These cards provide a weighty (22g) metal construction, cash back rewards on every purchase, and access to the exclusive Luxury Card Concierge®.

Luxury Card Concierge® caters to cardmembers’ every need and is available 24/7 by live chat via the Luxury Card App, phone, and email. Dedicated Concierge agents assist with travel itineraries, dining reservations, research, and gift sourcing.

Current Luxury Card Offers

Mastercard® Gold Card™
luxury card mastercard black card
Mastercard® Black Card™
mastercard_titanium_card
Mastercard® Titanium Card™.

Related Article: The Best Luxury Credit Cards

Featured photo by Sara Williams / Burst

Chase Launching New United Quest Card

United Platinum Class Visa Quest

Chase and United Airlines are launching a new co-branded credit card this spring. The new card, titled the United Quest Card, replaces the long-discontinued United Platinum Class Visa. Here’s what we know so far about the new United Quest Card from Chase.

Chase and United Airlines Launching New Credit Card

The Chase United Platinum Class Visa is a discontinued airline rewards card no longer accepting new applicants. Despite that, the card still retains a loyal fanbase of cardholders who enjoy its annual companion travel certificate for an annual fee of $140.

However, Chase and United Airlines are launching a new credit card to replace the old United Platinum Class Visa. The new card, the United Quest Card, will debut on March 21, 2021. Existing  Platinum Class Visa cardholders will see their cards change over to the Quest Card, which will likely also be taking new applicants.

New United Quest Card Details

Here is what to expect from the new United Quest Card from Chase:

  • 3X points on United purchases
  • 2X points on all other travel purchases
  • 2X points on select streaming services and dining
  • 1X points on all other purchases

The United Quest Card will also come with a unique bonus reward for cardholders. Quest Cardholders can earn up to 10,000 MileagePlus miles back when they book two United award flights each year (5,000 miles per award flight, up to twice per year).

Like other premium airline cards, the Quest will charge no foreign transaction fees and it will offer TSA PreCheck/Global Entry statement credits every four years, trip cancellation/interruption insurance, and trip delay reimbursement.

The card will also feature a $125 statement credit on the cardholder’s anniversary (good for United purchases), complimentary first two checked bags on United flights, priority boarding, and Premier upgrades. The annual fee for the United Quest Card will be $250.

About United MileagePlus

MileagePlus is the loyalty program of United Airlines – one of the largest carriers in the United States. United MileagePlus miles can be earned on any fares booked with the airline, both domestically and internationally. United is part of the Star Alliance, which includes other carriers like Air Canada, Avianca, Lufthansa, and more.

Chase and United Airlines already issue a variety of co-branded airline cards, including: 

Featured photo by Nel_Botha-NZ /PixaBay

Amex Introduces Cell Phone Insurance Perk

amex cell phone insurance

Last updated on March 9th, 2021

American Express is adding cell phone protection to some of its most premium card offerings. The new protection benefit begins on April 1, 2021, and provides protection for repair or replacements of up to $800 per claim. Here are all the details of the new American Express cell phone protection benefit.

Amex Introducing Cell Phone Protection

Cell phone protection is a perk not normally found in the credit card market. Previously, Mastercard was the only major payment network to provide cell phone protection on its World And World Elite Mastercard products.

Now, however, American Express is offering cell phone protection insurance for some of its premium cards. Beginning April 1, 2021, Amex will offer up to $1,600 per year ($800 per claim) of protection for cellular phones whose wireless bills are paid with an eligible Amex card.

Eligible American Express Cards

Eligible premium Amex cards include:

american express business platinum
Business Platinum Card
amex platinum
Platinum Card
delta reserve credit card
Delta Reserve
business delta reserve skymiles
Delta Reserve Business
american Express Platinum Card® for Schwab
Platinum Card from Schwab
Platinum Delta SkyMiles
Platinum Delta SkyMiles
platinum business skymiles
Platinum Delta SkyMiles Business
centurion black business card
Centurion and Centurion Business Cards

Other eligible cards are the Platinum Cards from Goldman Sachs, Morgan Stanley, and Ameriprise Financial. 

How Does Amex Cell Phone Protection Stack Up With Competitors?

American Express’s cell phone protection plan differs from Mastercard’s in the amount eligible cardholders can claim. Mastercard allows eligible cardholders to claim up to $1,200 per year ($600 per claim) for an eligible mobile phone that is lost, stolen, or damaged.

On the other hand, Amex is offering a maximum of $800 per claim, or $1,600, per 12-month period. However, keep in mind that American Express will also require a $50 deductible per claim, though this is standard. Other issuers may require as much as $100 in deductibles per claim.

Like other cellular and mobile phone protection plans, insurance is provided by New Hampshire Insurance Company, an AIG Company. There is no additional cost to the eligible cardholder, minus any deductibles or charges that might arise during the claim process.  For more information about Amex’s coverage, check out the official guide to benefits at americanexpress.com/CPPTerms.

Related Article: American Express Brings Back Rose Gold Card

Featured photo by Matthew Henry/ Burst

Grand Reserve™ Announces New Partners

Grand Reserve Mastercard announces new partners

Last updated on February 20th, 2024

Grand Reserve™, which offers the Grand Reserve™ World Mastercard®, boasts a partner network that’s more impressive by the day. Grand Reserve™ recently announced nearly 30 new partners to its Grand Reserve™ Rewards program. Here is all the latest news and the newest wineries joining the list:

Grand Reserve™ Adds New Partners to Rewards Program

Grand Reserve™ Rewards is the wine rewards program for wine lovers everywhere. The program features an extensive partner network of more than 450 boutique wineries, wine clubs, and wine stores in nearly 500 locations in 16 states. The impressive network already contains major names, such as Charles Krug Winery, Relic Wine Cellars, Senses Wine, Switchback Ridge, and Willamette Valley Vineyards, among many others.

Now, the Grand Reserve™ network is even more extensive, thanks to over two dozen new partners. The list of new partners includes (in alphabetical order):

Bringing Wineries and Wine Lovers Together In a New Way

Grand Reserve™ hailed the latest additions to its rewards program network in a press release announcing the news:

“We’re excited to continue growing our portfolio of Grand Reserve™ partners and give our members access to even more partner benefits and experiences. Additionally, we aim to provide a unique marketing channel to fine boutique wineries and other partners,” said Matthew Goldman, founder and CEO of Grand Reserve™. “Our goal is to connect members with the finest producers of wine, support our partners, and provide exceptional rewards for wine enthusiasts.”                    

The news was equally welcomed by Christopher Lloyd Strieter, Founder of Senses Wines – a current Grand Reserve™ partner. “We’re excited to be a partner in this unique rewards program for wine lovers,” he said. “Great wine is best enjoyed as part of a community, and Grand Reserve™ promises to bring wine lovers and wineries like ours together in a new way.”

About the Grand Reserve™ World Mastercard®

The Grand Reserve™ World Mastercard® is a rewards credit card and the ideal compliment for the Grand Reserve™ Rewards program. The card features no annual fee for the first year and up to 7X points per dollar on purchases with select partners. It was recently placed atop BestCards’ list of the Best Wine Credit Cards of 2021.

Launched in August of last year, the Grand Reserve™ World Mastercard® was designed with a cardmember-first approach and focused on truly rewarding the passion that members have for discovering, enjoying, and collecting fine wine.

Grand Reserve™ connects members with the finest boutique wineries and other partners that pair with their passion, offering significant bonus points on purchases made directly from partners and exclusive benefits through its rewards and loyalty program. Grand Reserve™ points are redeemable for wine bottles, sommelier-curated reward catalog items, exclusive experiences, and more.

Featured photo by Markus Winkler/ Burst

BlockFi Announces Bitcoin Card Features

blockfi-announces-new-bitcoin-card-features

Last updated on April 12th, 2023

BlockFi has announced new features for its upcoming BlockFi Bitcoin Rewards Credit Card from Visa. Here is the latest on this exciting fintech credit card:

New BlockFi Card Features Announced

BlockFi, the fintech company seeking to make Bitcoin rewards with a credit card a reality, has unveiled more features of its upcoming BlockFi Bitcoin Rewards Credit Card. The card is part of Visa’s Fintech Fast-Track program, which seeks to speed up integrating new technologies into the credit card space.

The newly announced features of the card include:

  • 5% Bitcoin rewards on all purchases from month four through six of card membership. This perk applies to up to $100 in Bitcoin.
  • An additional 2% APY on the cardholder’s average daily Stablecoin balance, up to $200.
  • 25% Bitcoin rewards on eligible BlockFi trades, up to a maximum of $500 in Bitcoin per month.

These new perks are in addition to previously announced features of the BlockFi Bitcoin Rewards Credit Card. Those features include:

  • 5% Bitcoin rewards on all purchases.
  • $250 in Bitcoin after making $3,000 in purchases with the card within the first three months of opening an account.
  • $30 in Bitcoin for every client referral.

The BlockFi Bitcoin Rewards Card will be issued through Evolve Bank & Trust and will carry a $200 annual fee that is not waived for the first year. There is no date for the card’s launch, though most experts anticipate the card’s debut at some point in 2021.

Cryptocurrency and Credit Cards

More and more fintech firms are seeking to add cryptocurrency as a reward form for credit and debit cards. For example, Portland startup, Bumped, seeks to transform credit card rewards into Bitcoin through its brokerage system. The Fold Card, also from Visa, has a similar goal to BlockFi, offering Bitcoin and crypto rewards with every purchase.

About BlockFi

BlockFi Lending is a financial services company. It specializes in providing credit services to markets with limited access to simple products like a savings account. The company offers a variety of services, including cryptocurrency trading. BlockFi features market-leading rates with institutional-quality benefits not found with other startups.

Related Article: The Five Best Fintech and Neobank Credit Cards of 2020

Featured photo by Sarah Pflug/ Burst

Capital on Tap Launches Two Business Credit Cards

capital-on-tap-launches-two-business-credit-cards

Last updated on January 29th, 2024

A U.K. fintech company is seeking to change the way small and medium-sized businesses gain the funding they need. Capital on Tap is launching two new business credit cards through WebBank. Here are the details:

U.K. Fintech Capital on Tap Launches Two U.S. Small Business Credit Cards

Capital on Tap is a leading business-to-business (B2B) lender in Europe and one of the U.K.’s fastest-growing companies. The firm provides financial support to small- to medium-sized businesses with funding, with over GBP 2 billion in financing issued to date.

Now, Capital on Tap is eying the U.S. small business landscape and launching two small business credit cards through WebBank. WebBank, founded in Utah in 1997, has a history of working with fintech companies seeking to disrupt the U.S. credit card marketplace. The bank already issues numerous fintech credit cards, including the Avant Card, the Petal 1 and Petal 2 Visa, and the Jasper Mastercard.

About the Capital on Tap Business Cards

Capital on Tap’s first credit card offerings in the U.S. will have two versions. The first card, called the Regular Rewards Card, 1% cash back on all purchases, with no foreign transaction fees nor annual fees. The second card, the Founder Rewards, is a premium business card, featuring 2% cash back earned on all purchases, no foreign transaction fees, and a $199 annual fee. According to the company, both cards will offer credit lines of up to $50,000.

Both cards feature the Visa payment network and are currently open to new applicants.

Providing Access to Crucial Working Capital

Capital on Tap’s move seizes the opportunity to expand the reach of its unique B2B financing model across the Atlantic, despite the hardships of the coronavirus pandemic. “The team worked tirelessly to get the product prepared for launch. COVID-19 and the subsequent economic downturn have meant challenging times for SMBs (small- and medium-sized businesses), and the Capital on Tap business credit card will provide access to crucial working capital and also a range of features built just for SMBs,” said Zoe Newman, Head of International Expansion at Capital on Tap.

“We’re looking forward to the partnership with WebBank and bringing the Capital on Tap business credit card to the U.S. market and serving local SMBs, providing business owners and their employees with new levels of control over funds for growth and business development in addition to supporting cash flow,” she said.

Related Article: Freelancer? Consider a Small Business Credit Card

Featured photo by  Matthew Henry/Burst

Stori Aims to Improve Credit Card Access to Mexicans

stori app and credit card

Last updated on January 31st, 2024

Mexico is the fastest-growing e-commerce market in the world, according to a 2020 study by Pattern, a leading e-commerce consultancy firm. Despite 35% growth year-over-year, however, credit cards and banking are scarce in the United States’ southern neighbor – and only 37% of those over 15 have a bank account.

Stori Hoping to Serve Mexico’s Underbanked Middle Class

Mexico City-based fintech startup Stori hopes to reverse this trend by working on ways to underwrite credit cards to underserved populations throughout Mexico. This goal is now a step closer to completion, thanks to $32.5 million in Series B funding – and a previous $50 million in funding since 2018.

Stori’s goal is to become “Mexico’s leading credit card issuer for the rising middle class.” It features a diverse range of team members with prior experience at Mastercard, Capital One, HSBC, Morgan Stanley, and more.

Stori Clásica Mastercard

Over one million Mexicans have applied for Stori’s credit card – the Stori Clásica Mastercard – since launch, with growth up 14% in January 2021 alone. The company also provides a 100% mobile app-based experience designed to attract Mexico’s growing middle class.

“Consumers in Mexico are increasingly using e-commerce and app-based services like ride-hailing and delivery, and credit cards are the preferred payment methods in those channels,” Bin Chen, one of the founders, said in an interview with TechCrunch. “They’re experiencing more cash flow fluctuation and irregular expenses and need access to flexible credit that can meet short-term needs.”

Similarities with TomoCredit

The company is like another startup, TomoCredit, in the United States. The TomoCredit Card hopes to create a solution for other foreign-born individuals and young adults facing challenges getting approved for credit cards, loans, or other lending products.

That card, designed for recent immigrants and those new to credit, recently raised over $7 million in funding, from names including BAM Ventures, Passport Capital, Ulu Strong Ventures, and Barclays Bank.

Featured photo by Stori

M&T Bank to Purchase People’s United Bank

mt-bank-to-purchase-peoples-united-bank

Last updated on February 7th, 2022

M&T Bank is a Buffalo, NY-based financial institution that primarily serves the United States’ Mid-Atlantic region. The bank is now expanding into the New England area, thanks to a $7.6 billion acquisition of People’s United Bank. Here are the details of M&T Bank’s purchase.

M&T Bank to Acquire People’s United Bank

According to the Wall Street Journal, People’s United is a Bridgeport, CT-based bank with a market value of $6.6 billion. People’s United  is one of the premier banks in the northeastern United States, with over 400 branches in the following locations:

  • Connecticut
  • Massachusetts
  • New Hampshire
  • Vermont
  • Maine
  • New York

The final merger is expected to take place in the fourth quarter of 2021, according to banking industry experts.

“Strengthen Our Ability to Serve Our Communities”

According to M&T Bank, the purchase seeks to provide a “diversified, community-focused banking franchise with approximately $200 billion in assets and will have a network of more than 1,100 branches and over 2,000 ATMs that spans 12 states from Maine to Virginia and the District of Columbia.”

“In People’s United, we have found a partner with an equally long history of serving and supporting customers, businesses, and communities,” said René Jones, chairman and chief executive officer of M&T Bank Corporation, who will lead the combined company in the same capacity. “Combining our common legacies and our complimentary footprints will strengthen our ability to serve our communities and customers and provide solutions that make a difference in people’s lives. I am incredibly excited about this opportunity and look forward to welcoming new customers and team members to our M&T family.”

What Does This Mean for People’s United Credit Cardholders?

Current People’s United credit cardholders are unlikely to experience any disruptions with their card accounts. Previous mergers, including the significant rebranding of SunTrust and BB&T as Truist, have seen both banks still offer the same credit card products, with existing cardholders experiencing no issues at all.

People’s United Bank issues three credit cards through Elan Financial Services, including two Mastercards and an American Express card. M&T Bank issues five credit cards itself, all of which feature the Visa payment network. M&T business credit cards are especially notable for their excellent, low APR, and lengthy 0% intro APR periods.

About M&T Bank

M&T Bank is a Buffalo-based financial institution with over $19 billion in assets as of 2020. The bank provides a full suite of banking products and services, including credit cards for various preferences, credit scores, and purposes.

Related Article: PNC Bank to Acquire BBVA for $11 Billion

Featured photo by MichaelGaida /PixaBay

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