In the case of this merger it means that if you have a MBNA credit card it will soon become a Bank of America credit card. This will have a minimal impact on foreign transaction fees since both companies charge the same amount to make purchases in foreign countries. Important details from their press release include:

“In the short term, continue to use and service your MBNA credit cards as you do today at MBNA.com. You’ll receive more information later this year about how and when your MBNA accounts will be integrated into Online Banking at Bank of America, currently anticipated as being in late 2006. In the meantime if you have questions, call us at 1.800.421.2110.”

For more information visit Bank of America.