Today, the 40th letter I've received from Bank of America this year arrived.  This was a $25,000 personal loan offer to pay off my credit card debt at prime plus .74%.  I don't have any relationship with the Bank, but we may all be their customers in just a few years.  Consider how B of A's strategy is beginning to unfold.

Yesterday, Bank of America said it would launch an effort to convert MBNA Corp. affinity credit card holders into banking customers.  Last year, Bank of America acquired MBNA in a $35 billion deal.

The Charlotte, N.C.-based bank will offer checking and savings accounts, certificates of deposit and other products to organizations that had partnered with MBNA to offer affinity credit cards to their members.

Twelve of those organizations — including Habitat for Humanity International, American Quarter Horse Association and National Wildlife Federation — have already signed agreements with Bank of America to offer their members additional banking products.  Those organizations have nearly 10 million members, according to Bank of America officials.

B of A owns the largest credit card portfolio, is offering to consolidate non-customer credit card debt at below credit card rates, and then market the heck out of checking accounts to everyone.  With branches in every state, can there be any doubt that Bank of America will outdistance all domestic banking competitors in just a few years?