1. Bank of America Card Services
Growth through Market Leading Products and Distribution
Bruce Hammonds
President
Merrill Lynch Financial Services Conference
November 15th, 2006

2. Bank of America Card Services
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3. Card Services Profile
Based on 3Q06 Net Income
Bank of America GCSBB
other Businesses 53% Card Services
GCSBB
47% 51%
(excl Card
services)
49%
Bank of America Global Consumer & Small
Corporation Business Banking (GCSBB)
• $194.9 billion in Managed Loans
– U.S Credit Card loans of $146.8 billion
– International card business $31.6 billion in loans in 4 countries
– Consumer Finance business with $16.5 billion
• $283 billion in Merchant sales volume
Note: US credit card includes Business Card; Consumer Finance
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include Practice Finance

4. Top U.S. Credit Card Issuers 3Q06
Bank of America is the leading credit card issuer in the
U.S. and has the highest return among the card
portfolios of commercial banks with a 3.73% ROML
compared to a peer group average of 3.07% in 3Q06.
$160 $147
$140
$140
$120 $110
$ in Billions
$100
$80
$60 $51 $50
$45
$40
$20
$0
Bank of JP Morgan Citigroup Capital American Discover
America Chase One Express
4 Source: Ending loans based on company reports (excludes
international and private label)

5. Card Services Growth in 2006 – Managed Basis
($ in billions)
2006 2006
September YTD YOY Growth (1)
Total Revenue $ 18.4 5%
Net Interest Income 12.2 0%
Non Interest Income 6.2 16%
Provision for Credit Losses 5.5 (21%)
Total Non-Interest Expense 5.8 (10%)
Net Income Before Tax 7.1 74%
Net Income $ 4.5 72%
3Q 2006 Chg vs. 3Q 2005
Risk Adjusted Margin 8.69% 4 bps
5 (1) YOY growth is pro forma with MBNA

6. Asset Quality
• Managed Credit Card loss rate rose to 4.23%, which is 56 basis points higher than
2Q 2006 but 55 basis points lower than 3Q 2005
• Managed Credit Card losses were $1.75 billion, down $159 million from 3Q 2005
10.00%
$3,250
7.07% 8.00%
4.79% $2,881 6.00%
$2,500 4.23%
3.67%
3.12% 4.00%
$1,907
$1,748
$1,750 2.00%
$1,474
$1,246 0.00%
$1,000 -2.00%
3Q05 4Q05 1Q06 2Q06 3Q06
Managed Credit Card Charge-offs Managed Credit Card Charge-off Ratio
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7. Payments – Positioned to Lead
• #1 Credit Card
• #1 Debit Card
• #1 Check Processor 54.8% Share
Online Bill Pay
• #1 Online Banking/Bill Pay
• #1 Cash Management
• #1 ACH Receiver
Customers & Clients
• #2 Merchant
Acquiring
15.7% Share 21.5% Share
Debit Card Credit Card
#1 Share in Fastest Growing Payment Types
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8. Payments Market
Cards continue to grow market share…..
2000 2006
7% 13% 10%
19% Other Cash Other
7%
Cash
Debit
15%
Debit
20%
Credit
Cards
36%
Checks 26%
47%
Credit
Check
Cards
100% = $5.5 trillion 100% = $6.8 trillion
Source:
Other includes ACH and other plastic including private label and gift cards
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Credit = general purpose credit cards

9. Profitable Growth through Size and Scale
• Distribution
– 5,700+ banking centers
– 17,000 ATM’s
– Leading Internet and Telephone
channels
– 5,000 Affinity Groups
• Product Innovation
– Unique Reward Programs –
WorldPoints, MLB Extra Bases, NFL
Extra Points, NASCAR RacePoints
– PayPass
– Keep The Change Bank of America Data Warehouse
• Data Management
– Information-driven Customer life-
cycle management of 55 millions
households
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10. Diversifying Sales & Service Delivery Channels
Optimizing Origination Costs
$113 $98 $78
31% 24%
Card Sales Mix By Channel
65%
14% 24%
Direct Mail
10% Banking Center
12%
E-Commerce
Other
22% 46%
40%
2%
10%
0.6MM
2004 2005 Sept YTD 2006
Note:
2005 and 2006 Sales units incl. MBNA;
Other includes Telesales, Event Marketing and
Group Maximization channels
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11. Affinity Marketing
• “Success is Getting the Right
Customers…and Keeping
Them”
• To get the right customers, we
developed affinity marketing—
selling to people with a strong
common interest.
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12. Affinity Customers
• Affinity customers have better credit experience.
• Use their cards more.
• Carry a larger balance.
• Will use other Bank of America endorsed products.
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13. Affinity Marketing Customers
Have a propensity to accept multiple endorsed products.
Example:
National Education Association
–More than one-third of teachers
nationwide carry MBNA cards
– 3.1 million members
–$2.5 billion in credit card loans
–$900 million in other consumer
loans
–$4.4 billion in deposit balances
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14. Dominance in Affinity Marketing
• More than 5,000 organizations
endorse our products including:
– 1,400 professional organizations
with $6.4B in loans
– 900 colleges and universities
with $6.4B in loans
– 600 sports related organizations
with $5.1B in loans
– 275 Financial Institutions
with $17B in loans
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15. Leveraging Best of Both
Leveraging the BAC Franchise through Affinity Marketing:
Affinity Bank of America New Affinity
Marketing
Assets
+ Retail Product and
Distribution
= Banking Model
5,000 Endorsing 5,700 Banking Centers Leverage Customer
Organizations 17,000 ATMs Passions
24 Million Affinity Card 21 Million On-Line Manage Customer
Customers Customers Information
#1 Deposit Market Share Cross-Sell Banking
Products
#1 Small Business Lender
#1 Home Equity Lender
#1 Debit Card Share
#1 Credit Card Lender
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16. Affinity Banking Endorsements
• American Quarter Horse Assoc. • New York State Bar Assoc.
• Habitat for Humanity • Brown Alumni Assoc.
• The Humane Society of the U.S. • Nat’l Trust for Historic Pres.
• The University of Arizona Alumni Assoc. • National Wildlife Federation
• Defenders of Wildlife • National Wild Turkey Fed.
• The Medical Society of the State of NY • The D.C. Bar
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17. Marketing/Sales Highlights
– Signed new affinity groups, including Allegacy Credit Union,
Philadelphia Federal Credit Union, American Academy of General
Dentistry, and Merrimack College
– Renewed contracts with approximately 900 affinity organization,
including NASCAR, New York Mets, Penn State Alumni
Association, UCLA, and the University of Texas, and Merrill
Lynch
– Received endorsement of unsecured loan products from AAA, one
of our largest affinity
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18. New Products
In Market 4Q06-1Q07
Bank of America American Express
Ownership Rewards
KTC &
Credit Bundle
MLB Extra Bases
GWIM Amex VIP
RF Pilot
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19. New Markets
Healthcare
Caremark Aetna
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20. New Segments
Student Emerging Credit
Hispanic
25% growth from
last year
75% of students in
BAC footprint
90% of Hispanics in
BAC footprint
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21. Small Business
Bank of America
Small Business
Customer Penetration
Growing credit share to
22.4%
20.8% match market penetration
18.2%
22%
8%
2003 2004 2005 Credit Share Market Penetration
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22. International
• $31.6 billion in loans
• 20% growth in 2006
• #1 Market Share in the U.K.
United Kingdom Ireland
• 1,500 endorsements
• Exploring opportunities in
China, Italy, Portugal, Japan
Canada Spain
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23. Consumer Finance
• $15.1 billion of outstanding loans
• 25% growth in 2006
• Unsecured consumer loans cross-sold to
existing customers
• Products endorsed by hundreds of our
affinity partners
• Aircraft Lending
• Practice Finance
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24. Card Services Transition
• Transition on target
– Continuing to meet revenue and expense targets
– Affinity card sales now in all BAC channels
• October Conversion
– Completed the largest consumer card conversion in industry history
– On track to offer all our customers superior service from a single
platform
• Leveraging judgmental lending and collections best practices
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25. Card Services – Our Unique Model
• Distribution diversity
• Efficiency
• Pricing
• Risk/reward – risk adjusted margin
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26. Forward Looking Statements
This presentation contains forward-looking statements, including statements about the financial
conditions, results of operations and earnings outlook of Bank of America Corporation. The
forward-looking statements involve certain risks and uncertainties. Factors that may cause
actual results or earnings to differ materially from such forward-looking statements include,
among others, the following: 1) projected business increases following process changes and other
investments are lower than expected; 2) competitive pressure among financial services companies
increases significantly; 3) general economic conditions are less favorable than expected; 4)
political conditions including the threat of future terrorist activity and related actions by the
United States abroad may adversely affect the company’s businesses and economic conditions as
a whole; 5) changes in the interest rate environment reduce interest margins and impact funding
sources; 6) changes in foreign exchange rates increases exposure; 7) changes in market rates and
prices may adversely impact the value of financial products; 8) legislation or regulatory
environments, requirements or changes adversely affect the businesses in which the company is
engaged; 9) changes in accounting standards, rules or interpretations, 10) litigation liabilities,
including costs, expenses, settlements and judgments, may adversely affect the company or its
businesses; 11) mergers and acquisitions and their integration into the company; and
12) decisions to downsize, sell or close units or otherwise change the business mix of any of the
company. For further information regarding Bank of America Corporation, please read the Bank
of America reports filed with the SEC and available at www.sec.gov.
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