INTERESTING... I busted my butt for CITIBANK (BDD) and my FLEET might be a CITIBANK card...I ASSUME, NOT THE OTHER WAY...
God forbid, I hope they don't. Citibank is far superior to Fleet as far as I'm concerned. If citibank takes ownership, it may be a good thing, but if it goes the opposite way, WATCH OUT!
IN 2005 OR BEFORE...98% OF ALL VISA/MC CREDIT CARDS WILL BE OWNED BY SIX BANKS??? NO TOP TEN LIST??? TOP SIX LIST???
Here's a "local" take on it... It's an old story (here in Boston, anyway). The former (then outgoing) chairman of Fleet, Terry Murray, met with Citi chariman Sandy Weil last summer. Nothing of substance came of it. The current chairman of Fleet, Chad Gifford, spent 30+ years with the institution (Bank of Boston, then BankBoston) and is a huge civic leader here - one of the major reasons he merged his bank, BankBoston, with Fleet was to keep a top-10 bank based in Boston. I doubt highly he would do it. Terry was all about building through buy-outs, Chad is all about excellent customer service and growing organically. Fleet's operations were horrible (some still are) but it's gotten a lot better since Gifford took over the corner office. Hopefully with the tidal wave of execs moving from Fleet to follow their old leader now at Providian, some better management can be installed at the credit card operation in PA. -mj
George- I know you're only talking V or MC here - but also in the top 5 would be Discover and Amex. By the way - you forgot your favorite - BankOne (FUSA)! I'd also say Household would be in the upper tier too.
George, It means my Edvance card and Fusion Smart Card become Citibank cards. It is interesting. Ron.
If this happens, I wonder what will happen with my $100 credit limit Fleet VISA with almost a 30% APR (non-penalty)? Tim
