Macy's has entered into a new partnership with American Express under which Macy's and Bloomingdale's credit cards will be co-branded exclusively with American Express and issued by Citi, the issuer of Macy's and Bloomingdale's credit cards.

Under a series of agreements among Macy’s, American Express and Citi, existing Macy’s and Bloomingdale’s Visa cards will be replaced by new Macy’s and Bloomingdale’s American Express cards. The new cards will be sent to customers by the end of 2010, however, they will be communicated about this change.

When issued, customers’ of Macy’s or Bloomingdale’s American Express card will have the same credit limits, current balances, historical account information and loyalty program rewards as the existing co-branded card. Customers who hold a Macy’s or Bloomingdale’s store credit card (not co-branded) will see no change, and those cards will continue to be accepted only at Macy’s or Bloomingdale’s.

Tom Cole, chief administrative officer of Macy’s, said: “The new co-branded American Express cards will continue to support the Macy’s star rewards and Bloomingdale’s insider loyalty programs. We expect a smooth transition for our customers without interruption to their shopping experience.”

William Stredwick, vice president and general manager of global network services at American Express, said: “We are delighted to partner with Macy’s to enhance the benefits of shopping at Macy’s and Bloomingdale’s. As our relationship develops, we look forward to bringing customers new opportunities and offers. This will be a win for customers of Macy’s and Bloomingdale’s as we bring the power and benefits of our iconic brands together.”

Macy’s is a retail company that operates retail stores and internet websites under two brands, Macy’s and Bloomingdale’s.