2007-03-28 03:56:19 · 12 answers · asked by aikon56 2 in Business & Finance ➔ Credit
The State of Delaware has very loose tax laws, compared to the rest of the country. Almost all large companies are incorporated in Delaware due to this.
JP Morgan Chase and MBNA (or who ever owns them now) are actually in Wilmington.
Also, Wilmington has one of the largest credit card payment processing centers in the country.
For it to be such a financial oriented place, the state is a piece of crap...I used to live there. I couldn't wait to leave.
2007-03-28 04:08:19 · answer #1 · answered by Anonymous · 0⤊ 0⤋
MBNA which is now Bank of America is one of the worlds largest credit card companies. I know because I used to work for them. So they have a Wilmington, DE address because that's where the companies are based out of.
Delaware representing!! :-)
2007-03-28 04:09:48 · answer #2 · answered by Suki 4 · 0⤊ 0⤋
The reason most credit cards are based out of Wilmington DE, is beacuse of the states liberal interest and tax laws. They can charge you more interest and pay less taxes on it.
2007-03-28 04:57:11 · answer #3 · answered by Matt 4 · 1⤊ 0⤋
Delaware has looser restrictions on corporations. It is not just a credit card trend, but a huge number of US Corporations have their headquarters (at least on paper) in Delaware.
2007-03-28 03:58:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Lower taxes in Delaware for cards.
2007-03-28 04:00:57 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Because they are based here due to favorable tax base and incorporation laws that are also favorable.
2007-03-28 04:00:03 · answer #6 · answered by Sane 6 · 0⤊ 0⤋
Because they can't all fit in the buildings in Minot, North Dakota, like the rest of them.
2007-03-28 03:59:40 · answer #7 · answered by Cattlemanbob 4 · 0⤊ 2⤋
That's a town full of those companies.
2007-03-28 03:58:41 · answer #8 · answered by Anonymous · 0⤊ 1⤋
it's probably the billing address.
2007-03-28 03:59:41 · answer #9 · answered by intelligent80000 5 · 0⤊ 1⤋
A lot.
2007-03-28 03:58:03 · answer #10 · answered by fddd s 2 · 0⤊ 1⤋