U.S. Bancorp (USB) in Minneapolis plans to join the American Express (AXP) credit card network by fall 2014.
The $361-billion asset U.S. Bancorp will offer American Express credit cards along with its current Visa (V) and Mastercard (MA) options, a company spokeswoman said Wednesday.
U.S. Bank customers will be able to order American Express-branded cards online, by phone or at one of the bank's 3,088 branches, according to a Wednesday press release.
"We actively listen to our customers and are focused on delivering the right financial solutions that best meet their needs," U.S. Bank Vice Chairman Pam Joseph said in the release. "We believe that the American Express network provides a combination of benefits and services that many of our customers want."
Wells Fargo (WFC) announced plans in August to begin issuing American Express-branded credit cards in mid-2014. The company will continue its partnership with Visa (V).
Bank of America (BAC), Citigroup (NYSE: C), USAA , First National Bank of Omaha, Pentagon Federal Credit Union and Barclays also issue American Express cards, according to the American Express website.
In the 1990s, Visa and Mastercard adopted rules that barred member banks from issuing credit cards on rival networks including American Express and Discover (DFS). A federal judge in a New York district court ordered Visa and Mastercard to give up those rules in 2001, arguing that they violated antitrust laws. The Supreme Court let the ruling stand in 2004, clearing the way for Amex to partner with banks.
U.S. Bancorp is the eight-largest credit card issuer by purchase volume in the U.S., according to personal-finance website CardHub.