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Article: AmEx takes to field in credit battle; Court decision clears the way, ad fight awaits.(News)(American Express Co.)
- Article from:
- Advertising Age
- Article date:
- October 11, 2004
- Author:
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: BRADLEY JOHNSON
american express co. is game to charge against Visa and MasterCard. Now it needs to convince banks that they can win when they play cards with American Express.
The Supreme Court last week refused to hear an appeal by Visa USA and MasterCard International of a federal antitrust suit, clearing the way for banks and other financial institutions to issue American Express cards. The first such cards, from industry giant MBNA, will appear in the next few weeks.
This marks the first time companies other than American Express will distribute American Express cards in the U.S.-"the most fundamental change in our card business ...