Moving aggressively to protect its turf against challengers both old and new, Citicorp is testing a nonrevolving charge card modeled after the American Express card and a credit card that offers a 5% rebate on gasoline and oil purchases.

The nation's biggest credit card issuer recently sent out offers for the Next Card, which shares many of the features of the American Express Card, including the $55 annual fee.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.