M&T Bank Corp. once again is offering its own line of credit cards for consumers and small businesses.
The bank announced Thursday that M&T Visa credit cards - both basic and with rewards - will allow customers to manage their credit card accounts and connect those accounts to M&T Bank checking accounts, which provides overdraft protection so that customers don't rack up fees for having insufficient funds in their checking accounts.
"We view that as a pretty important and core feature to our credit card offering," Tom Hayes, M&T's vice president for consumer card products, said.
Additionally, customers will be able to pay their credit card bill at local M&T branches and use Visa payWave technology to pay for purchases at participating retailers such as Rite Aid, McDonald's and Tim Horton's.
The interest rate of the M&T Visa rewards card begins at 11.24 percent for eligible customers. The interest rate of the basic card starts at 9.24 percent. Neither card carries annual fees.
M&T sold its credit card business in the late 1990s. Since then, it has maintained a credit-card agency relationship first with MBNA Corp., then Bank of America Corp. after it acquired MBNA. That relationship ended June 1, partly because Bank of America is now considered competition for M&T, Hayes said.
Individuals can apply for credit cards at local M&T branches and via telephone.