MLB Ends Bank of America Partnership, Capital One Will be New Issuer
Bank of America informed existing Major League Baseball (MLB) cardholders in recent days it would end the partnership with MLB. Major League Baseball Customized Cash Rewards credit cards will become a Bank of America Unlimited Cash Rewards or Customized Cash Rewards credit cards. The conversion would happen in mid-March, as reported by Doctor of Credit.
Bank of America MLB cards were a big hit years ago, when you could even get one for every team if you really wanted.
Now MLB has reportedly turned to Capital One as a banking sponsor, who will also be its credit card issuer. This information comes from Sports Business Journal, which report that the Capital One deal will be officially unveiled when a new MLB collective bargaining agreement is completed.
Capital One signed another major co-brand deals just days ago. Capital One will take over BJ’s Wholesale Club’s credit card portfolio from Alliance Data Systems Corp (ADS). Those accounts have nearly $1.5 billion in total balances.
Bank of America is also converting all Asiana cards to Cash Rewards credit cards around the same time, in mid-March. It’s not clear which issuer will be taking over those accounts.