American Express, Macy’s New Partners in Co-Branded Cards

ShoppingAmerican Express and Macy’s have a new partnership which will give the retailer co-branded cards exclusively with AmEx, but issued by Citi, the issuer of Macy’s and Bloomingdale’s credit cards.
Under a series of agreements, existing Macy’s and Bloomingdale’s Visa cards will be replaced by those co-branded with American Express. The new cards will be sent to customers by the end of 2010, and they will be notified of this change in advance.
“The new co-branded American Express cards will continue to support the Macy’s Star Rewards and Bloomingdale’s Insider loyalty programs,” said Tom Cole, Macy’s chief administrative officer. “We expect a smooth transition for our customers without interruption to their shopping experience.”
The new Macy’s or Bloomingdale’s American Express card will have the same credit limits, current balances, historical account information and loyalty program rewards as the existing co-branded card.
“This will be a win for customers of Macy’s and Bloomingdale’s as we bring the power and benefits of our iconic brands together,” said William Stredwick, vice president and general manager, American Express Global Network Services.
Macy’s reported fiscal 2009 sales of $23.5 billion. The company operates about 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy’s and Bloomingdale’s.

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