Andrew Brown reports for the Wall St. Journal on China's credit card industry.

An industry survey by McKinsey, which hasn't yet been released to clients, backed up optimism about the market, which is still in its infancy but growing exponentially. The report estimates more than 12 million credit cards have been issued in China, up from three million in mid-2003. (There are also hundreds of millions of debit cards that don't offer credit.)

American Express has announced a new Membership Rewards program benefit allowing cardmembers to use Membership Rewards points to book travel directly on the American Express travel website without blackout dates or restrictions for airlines, hotels or cruises.   » Continue Reading

Chase and United United have announced that the United Mileage Plus Visa* card is the first airline rewards card to feature "contactless" technology called "blink." The United Mileage Plus Visa cards with blink were first issued this summer to over 200,000 cardmembers in Colorado.

"With blink technology we're giving our United Mileage Plus cardmembers yet another way to enjoy the power and versatility of this extraordinary card," said Joe Venuti, senior vice president for Chase's Card Services division.

"We're confident the idea will take flight with our cardmembers, who will enjoy gliding through check out lines while accruing mileage earning benefits."

Monee Fields-White reports for Bloomberg on American Express' relationship with MBNA to issue co-branded Amex cards and whether that relationship will continue after Bank of America's acquisition of MBNA.

MBNA and Bank of America officials have yet to say whether the American Express partnership will continue after Bank of America completes its buyout in late 2005 or early 2006.

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