WILMINGTON, DEL. - MBNA Corp. and Ameritrade Holding Corp. announced a marketing alliance Thursday under which MBNA will issue the online brokerage's first credit card.
Under a multiyear contract, MBNA will be the exclusive issuer of an Ameritrade-branded credit card, to be marketed to the brokerage's one million-plus customers. In return, in a non-exclusive agreement, MBNA has agreed to offer Ameritrade brokerage services with "special features" for "millions" of its credit card customers. MBNA has 40 million customers.
The company said it is the first time a bank and a online brokerage have reached this kind of reciprocal agreement.