NationsBank Corp., which is acquiring Barnett Banks Inc., said it has reached an agreement to terminate Barnett's credit card alliance with Household Credit Services Inc.
As many industry observers predicted, management of $1.2 billion of Visa and MasterCard accounts will revert to Barnett on Dec. 31, ahead of the merger's scheduled completion in January. Terms of the agreement were not disclosed.
The Household alliance began in October 1996. Barnett issued cards in Florida and Georgia, and Household handled the servicing and marketing.
The cards will continue to carry the Barnett name until mid-1998, when NationsBank will take the program over.