Bank of American (MBNA) pulling out of the UK Credit Card business

Discussion in 'Other Credit Card Programs' started by adl73x, Aug 17, 2011.  |  Print Topic

  1. adl73x
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    adl73x Gold Member

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    Announced yesterday:

    http://www.business-sale.com/news/a...s-its-owner-decides-to-exit-the-uk-35190.html

    The sale could affect the Lufthansa MilesAndMore Visa card, as well as the bmi Amexes and Mastercard, not to mention a significant loss of jobs from the UK midlands.

    The bmi Amex has been a thing of wonder: 2 miles per £ on everything. :rolleyes:

    EDIT: Sorry - meant to type Bank of America - I can't edit thread titles.
     
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  2. Kevincm
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    Kevincm Silver Member

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    It'll be interesting who takes over to be honest.

    Least of all MBNA pretty much has most of the loyalty cards sewn up already (the biggest non MBNA cards I can think of off the top of my head are Hilton, Priority Club - Barclays and BA - American Express)

    Could be intresting times whoever buys....
     
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  3. adl73x
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    adl73x Gold Member

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    Please not Barclays. Their service is appalling and the earnings on the Priority Club card are dire.:rolleyes:
     
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  4. Kevincm
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    Kevincm Silver Member

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    Tell me about it... Although their 6.9% Balance Transfers for life is the only reason why I'm there.

    Although I've given Amex the finger recently... so I really wouldn't want to go back there (although that's what MBNA likes to issue these days...)
     
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  5. kraken

    kraken Silver Member

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    Heck, all good things must come to an end, eh? Well, I had a good run thus far.
     
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  6. adl73x
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    adl73x Gold Member

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    Indeed. But welcome to milepoint kraken, and have a Like :)
     
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  7. kraken

    kraken Silver Member

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    Thanks for the welcome. I'm a refugee from FT :D
     
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  8. jbcarioca
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    jbcarioca Gold Member

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    Bank of America has already exited most non-USA businesses including cards, but this one probably took longer because the UK/Spanish businesses are rather distinctive because fo all those affinity cards. They already sold the small business cards to Barclays, who are quite likely the hottest prospect for this one too, especially because quite a number of senior barclays executives are very familiar with the MBNA Uk and Spanish portfolios.
     
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  9. jbcarioca
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    jbcarioca Gold Member

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    So are many of us. here are more likes!
     
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  10. Kevincm
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    Kevincm Silver Member

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    It'll depend what happens post MBNA to be honest. Of course if the miles start dropping away, I'll just switch back to cashback cards.

    Until they stop giving miles out, I'm still spending.... ;)

    And welcome kraken.
     
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