Bank of America and 1035 Exchange announced today that they are partnering on an exchange credit cards for customers who want to earn more.
The partnership with 1035, which launched earlier this year, provides consumers with access to the same credit card benefits as other online retailers and banks, including rewards, interest rates and a cashback program.
1035’s new cards will be available in September and October.
“We believe 1035 is a leader in offering customers access to more rewards, more savings, and more convenience, while providing them with the same level of security they expect from a major financial institution,” said Bank of American CEO Mike Nardelli.
“In a world of increasingly complex digital platforms and increasingly complex payment systems, 1035 and its partners have designed a solution that can enable more than 10 million American customers to make more of the same.”
In addition to offering an easy-to-use platform, 1055 will also be able to provide an expanded selection of savings accounts to customers who need the convenience of checking accounts.
1055’s new credit cards are expected to be available for customers with no existing credit or checking accounts, as well as customers who are under age 18, and customers with an annual income less than $150,000.
The new cards also include a $1,000 bonus for signing up for a 1055 Credit Card in the United States.
The partners also plan to offer additional benefits for customers in 1035 territories.
Bank of the West will offer a new 1035 Visa Signature Card, while Chase will offer two new 1055 Visa Signature cards in the U.S. and Mexico.
The cards are also compatible with 1055.com, and Bank of Ameritrade will offer an online bank transfer service.