Fidelity drops credit card partners American Express, Bank of America

Fidelity Investments said yesterday it is dropping long-time credit card partners American Express Co and Bank of America Corp, ending a 12-year partnership that has generated billions of dollars in fees.

Boston-based Fidelity, which has 24 million customers, said its new partners will be US Bancorp and Visa Inc, effective Monday. The exclusive alliance will provide Visa branded credit-card products to US consumers, including Fidelity customers.

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