As expected, MBNA Corp. has signed an exclusive agreement with Major League Baseball, making the bank the official credit card issuer of the big leagues.
The no-fee card carries a rate of 5.9% for six months, which then jumps to prime plus 9.9%, now 18.4%. Season ticket holders and employees of individual teams or Major League Baseball are eligible for an annual interest rate of prime plus 7.9%, now 16.4%.
MBNA also has the rights to issue credit cards bearing the logos for the Cooperstown Collection, the Negro Leagues, and special events like the Championship Series, World Series, and All-Star Games.
MBNA can use all 30 team logos on its credit cards, but it cannot market in local areas where others banks issue team affinity cards except when advertising special events.