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March 19, 2015

American Express inks deal with Charles Schwab to issue co-branded cards

American Express (AmEx) has reportedly signed a multi-year agreement with US brokerage Charles Schwab to provide co-branded cards.

By Verdict Staff

American Express (AmEx) has reportedly signed a multi-year agreement with US brokerage Charles Schwab to provide co-branded cards.

The deal will see the companies issuing two kinds of cards, American Express told Reuters.

Details regarding the cards and terms of the transaction have not been disclosed.

However, details of how the cards will work for customers will be disclosed closer to their expected offering early next year.

Under the arrangement, the firms are expected to offer both charge cards that customers will pay off monthly, as well as credit cards, on which they can carry balances.

Last month, AmEx has ended its 16-year relationship with Costco and is seeking a new partnership.

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