Macy's Inc. to co-brand credit cards with American Express
Macy's Inc., owner of Macy's and Bloomingdale's, has partnered with American Express to create co-branded credit cards, which will be issued by Citi in the second half of this year. The partnership was announced March 31.
The company's co-branded credit card agreement with Visa will expire this fall.
The cards will continue to support the Macy's Star Rewards and Bloomingdale's Insider loyalty programs, and current card holders will receive American Express cards by the end of this year. Interest rates, credit limits and loyalty points will not change because the cards will still be issued by Citi.
Jim Sluzewski, a Macy's spokesperson, noted that “American Express offers customers perks when it comes to travel, emergency cash and other services.”
Nina Chang, director of public affairs and communications for American Express, said via e-mail that her company “will be able to provide a superior value proposition for Macy's and Bloomingdale's customers.”
Sluzewski said he hopes the deal will aid both the company's customer acquisition and retention efforts.
American Express would not comment on the number of cardholders it will add through the deal.