Nordstrom, Target issue branded debit cards
When is a store credit card not a credit card? When it's a debit card, a scenario that is showing signs of becoming more common. Two major retailers are quietly leading the latest salvo into retaining consumers who grow increasingly wary of debt, according to Candice Choi, Associated Press.
Target and Nordstrom offer branded debit cards [...]
Bon-Ton inks deal with new retail credit card provider
The Bon-Ton Stores proved they weren't going to be jilted for long. Less than a week after the department store chain was dumped by HSBC Bank Nevada N.A, its private-label retail credit card provider, the company has found a new suitor to take over its credit operations.
Alliance Data has signed a multi-year deal to begin [...]
Stein Mart revamps retail credit card
Fashion discount retailer Stein Mart has inked a new deal to retain and revamp its retail credit card offerings with GE Capital. The deal announced is a multi-year agreement between the retailer and the bank to continue the co-branded Platinum Rewards MasterCard.
As part of the agreement, GE Capital will create a new private label Stein [...]
GE Powers Dick's Sporting Goods Retail Credit Cards for the Next Seven Years
Customers of Dick's Sporting Goods will soon get instant credit from the same
company that makes many of the flashlights and camping lanterns sold at the
retailer. GE Money, a division of General Electric, reached an agreement to
provide credit card services to customers of the Pittsburgh-based retail chain.
Under the deal, GE will offer [...]
Kroger Credit Cards Now Serviced by U.S. Bank
Kroger's credit card accounts have returned to American ownership after U.S. Bank's purchase of the retailer's private label credit portfolio from the Royal Bank of Scotland. Like most retailers, Kroger has relied on banking partnerships to extend credit and other financial services to its customers. With RBS facing pressure from European regulators to increase its [...]
Chase, Citi Liquidating Some Affinity Credit Cards
As one major credit card issuer raises cash by selling off operations, another prepares to streamline its offerings to save money. A report in the Wall Street Journal chronicled the efforts of Citigroup CEO Vikram Pandit to liquidate some Citi Credit Card private label and affinity products. Citi's Sears Holdings card accounts and other affinity products [...]
Retail Cards, Chase Bank, Citi Bank