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It was an exciting week of news in credit cards, as five high- profile issuers made the headlines in one way or another. Top-tier card issuers American Express and MBNA America Bank announced a first-of-its kind alliance. Former top-tier issuer Capital One Financial came one step closer to being top-tier again, and subprime specialist CompuCredit Corp. closed a transaction backed by loans it acquired from Providian Financial.
The biggest news for investors was that Capital One had officially redeemed itself with its...