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BofA Leans on Private Jets, Supercars to Draw Big Card Spenders
- Bank tailors rewards for high-net-worth, ultra-wealthy clients
- AmEx, JPMorgan also battling for rich credit-card customers
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Bank of America Corp. is turning to private jets and exotic cars to compete with American Express Co. and JPMorgan Chase & Co. and lure big spenders to its credit cards.
The Charlotte, North Carolina-based company revamped its rewards program and debuted a new $550-a-year metal credit card that offers extra points on travel and dining purchases along with a $300 travel credit, according to a statement Thursday. Customers can apply for the card online starting in February.