![]() ![]() The annual fee for the Accolades card was $295, however current clients of Bank of America Premier Banking & Investments, Private Bank, and Family Wealth Advisers were qualified to have the annual fee waived each year if they maintained assets greater than $350,000 with BOA and their affiliates. The most notable of the changes in benefits is the dropping of the Lounge Club airport card from the benefits. The new cards will begin to ship in November 2016 and will have fairly different set of benefits. ![]() Starting JanuMerrill Lynch is discontinuing its Merrill Accolades American Express Card and is replacing it with MERRILL+ Visa Signature credit card. The program is now being managed by Merrill Lynch Wealth Management as part of the Bank of America Corporation. The Wall Street Journal has reported that "the bank has struggled to prove it can cater to wealthy clients with the personalized service offered by some rivals.” “The bank says the Accolades card is its first designed solely for clients of its wealth unit.” The Accolades card is seen as a tool to enter this market segment. With the acquisition, the private banking unit of Bank of America will be the largest in the world. Morgan Stanley, as well as Citicorp and Goldman Sachs. Traditionally, this banking sector has been dominated by JPMorgan and the large brokerage firm, Trust, a private bank that caters to those with extremely high assets and income. The introduction of the card coincides with Bank of America’s acquisition of U.S. This card, also called the Bank of America Accolades Card or the Bank of America Accolades American Express Card, is a co-branded card that is accepted by merchants who accept the American Express card. Trust, Bank of America Private Wealth Management. Trust, particularly since the larger Bank of America has taken the smaller bank's corporate name in establishing a separate legal entity for the first time in history. It is targeted exclusively at the bank's "affluent, wealthy and ultra- wealthy clients served through Premier Banking & Investments, The Private Bank of Bank of America and its extension, Family Wealth Advisors." The card is notable as it is the bank's foray into a new market segment as well as a product offered as a result of the bank's acquisition of another bank, U.S. During the 1980s, the firm invested and divested in the brokerage industry, through a stake in Shearson Lehman Hutton.The Merrill Accolades American Express Card, previously known as the Bank of America Accolades Card, was the first premium credit card offered by Bank of America. The "Don't Leave Home Without It" ad campaign was introduced in 1975 and renewed in 2005. American Express developed their first paper charge card in 1958, gold card in 1966, green card in 1969, platinum card in 1984, and centurion card in 1999. The company is the largest provider of traveler's cheques worldwide.įounded in 1850 as an express mail dispatcher, the company introduced financial and travel services to clientele during the early 1900s. ![]() It is based in the American Express Tower, located in the Battery Park City neighborhood of Lower Manhattan, where it maintains its corporate offices. ![]() The company's logo, adopted in 1958, is a gladiator or centurion, whose image appears on the company's well-known traveler's cheques, charge cards, and credit cards. Headquartered in New York City, it is one of the most valuable companies in the world and one of the 30 components of the Dow Jones Industrial Average. American Express Company is an American multinational financial services corporation that specializes in payment cards. ![]()
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