Visa, United ink extension on frequent flier cards

/ Source: The Associated Press

Visa Inc. and United Continental Holdings Inc. on Wednesday said they extended their deal for the airline's loyalty program.

The carrier said last month it would use the pre-merger Mileage Plus program from United as its single frequent flier program. Continental's One Pass program will be folded into Mileage Plus when it ends on Dec. 31.

New Mileage Plus cards bearing a Visa logo will continue to be issued by the credit card division of JPMorgan Chase & Co.

United has offered Visa card products since 1987.

In afternoon trading, Visa shares slipped $1.13 cents to $88.07. United Continental shares dropped 58 cents, or 3.1 percent, to $18.18 as the broader markets declined.