Curtis Arnold
Curtis Arnold, Editor-in-Chief
Joe Taylor
Joe Taylor Jr., Reporter
Amber Stubbs
Amber Stubbs, Managing Editor

Retail Cards

  • Chase, Capital One,¬†Barclaycard support Isis Mobile Wallet launch

    Chase, Capital One and Barclaycard will team up with three of the wireless phone industry's biggest brands to launch a mobile payment solution that aims to compete with Google Wallet. After operating in stealth mode for months, officials from the Isis project used their blog to announce the first three credit card issuers to confirm [...]

  • Barnes & Noble MasterCard offers store perks

    Bookseller Barnes & Noble is offering a $25 gift card to new cardholders who sign up for its co-branded MasterCard and make their first purchase with the card. The card also has perks for those who regularly shop at the bookstore or at its website. To earn a $25 Barnes & Noble gift card, customers must [...]

  • GE Capital renews credit card deal with ShopNBC

    GE Capital Retail Bank is renewing its private label credit card agreement with ShopNBC. In a press release, the companies announced a new multi-year deal for GE Capital to continue providing the TV and online-shopping portal's credit card. The two companies have had a relationship since 2006 when GE Capital first started producing the ShopNBC [...]

  • 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 [...]

  • HSBC renews private label card with Saks, three others

    HSBC may be selling its U.S. credit card division, but that hasn't stopped the bank from renewing some of its contracted credit card accounts. The company announced in a press release that it had reached an agreement with Saks Inc., owner of specialty retailer Saks Fifth Avenue, Big Lots, Darvin Furniture and Jordan's Furniture to [...]

  • 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 [...]

  • Senator finds credit cards cheaper than layaway fees

    The lawmaker now famous for clarifying language on credit card applications lashed out this month against retailers' holiday layaway programs. According to the Associated Press, New York senator Chuck Schumer warned consumers that service fees for layaway programs can cost consumers more than the typical finance charges on retail credit cards. AP's Michael Gormley reported that [...]

  • Strong Q3 prompts Citi to keep retail credit cards

    Citigroup announced it has decided to keep its once-beleaguered retail credit card division. The bank noted an increase in consumers paying down debt and using credit cards more judiciously, making the co-branded and private label credit cards more lucrative for the company. The company had in the past two years been trying to sell its retail [...]

  • 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 [...]

  • US Bank unveils REI Visa credit card app

    Impulse purchases just got a little easier, at least at one major retailer. U.S. Bank has released an iPhone app that allows shoppers to apply for a credit card anywhere and get instant approval for their purchases. The company is launching its app with outdoor clothing and sporting goods retailer REI, a current credit card [...]

  • American Express extending retail return periods

    American Express cardmembers can avoid buyers' remorse during the holiday season with help from the credit card issuer's new purchase protection program. After enrolling in the Premium Return Protection program for an annual fee of $49.99, members get up to 180 days to return items that would otherwise be unreturnable at most retailers.Although most retailers [...]

  • Verizon warns 4 in 5 retailers vulnerable to credit card theft

    Since 2006, the Payment Card Industry Data Security Standard (PCI DSS) has helped merchants and credit card issuers lock down retail terminals and e-commerce networks against identity thieves. However, a new report from Verizon indicates that only one in five businesses passed a PCI DSS inspection on the first try. The communications company maintains the [...]

  • Aldi warns customers of potential credit card breach

    Aldi became the latest retailer to warn consumers about a potential breach of credit card information at its stores. Unlike other consumer alerts involving stolen card numbers, the warning from Aldi's management team suggested that the company had fallen victim to a scheme usually reserved for ATM machines and automated gas pumps.According to company officials, [...]

  • 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 [...]

  • Visa Encourages Retailers to Scrap Credit Card Details in Security Effort

    Visa officials announced new merchant recommendations this month that could potentially reduce the threat of identity theft from retailers. In a joint statement with the National Retail Federation, Visa urged credit card issuers to accept receipts with suppressed or truncated card numbers as suitable evidence of valid transactions.Until now, merchants responding to complaints of fraudulent [...]

  • Retail Credit Card Accounts Hard for Citi to Sell

    Uncertainty about upcoming credit card regulations and a lack of market capital have frustrated Citigroup's efforts to sell off its portfolio of private label retail credit accounts, according to a Reuters report. Investors and industry analysts contacted by Reuters reporters admitted that the few companies willing to take $50 billion in retail credit card accounts [...]

  • 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 [...]

  • Target Discontinues Visa Credit Card

    Target credit cards will stop carrying the Visa logo after April. In a statement released to the Associated Press, company officials assured consumers that current Target Visa cardholders would continue to enjoy access to their accounts. New Target Red Card applicants will receive credit lines and cards accepted only in Target retail locations and on [...]

  • 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 [...]

  • Houston TV Crew Spurs Nationwide Sears Credit Card Retraining

    A team of television journalists in Houston has prompted one of America's largest retailers to conduct emergency staff retraining on credit card acceptance. During a recent investigative report, researchers from KHOU-TV purchased big ticket items at major retailers using the credit cards of friends and colleagues. Cashiers routinely processed credit cards through point of sale systems [...]

  • Credit Card ACT to Regulate Retail Gift Cards

    Retailers may have a harder time collecting spare change from the leftover balance of holiday gift cards in 2010, according to consumer advocates. A little known provision in the Credit CARD Act of 2009 places new restrictions on the service fees that card issuers and retailers can charge gift card recipients.Until recently, gift card merchants could [...]

  • Credit CARD Act Threatening Easy In-Store Credit Applications?

    Consumers may hear fewer requests to open store credit cards if the Federal Reserve fully implements new regulations under the Credit CARD Act in February. According to a report in the Wall Street Journal, retailers that process in-store credit card applications may have to start asking customers for proof of income. Currently, credit reporting bureaus supply the [...]

  • Credit Card Spending Up, But Smaller Transactions Worry Retailers

    The holiday season often inspires hundreds of Wall Street analysts to predict hot toys, essential gadgets, and other consumer trends based on spending patterns. Instead of commissioning complex and expensive market research studies, more analysts rely on credit card processors themselves to provide aggregate data about activity at their clients' cash registers. Chase Paymentech has become one [...]

  • Credit Card Issuer Purchases Charming Shoppes Portfolio

    Regular shoppers of Fashion Bug, Catherine's, and Lane Bryant stores may soon notice a new return address on their credit card statements. Alliance Data Systems purchased the credit portfolio of Charming Shoppes, the retailers' parent company, for $110 million. 4.5 million customers will be affected by the deal, but experts note that few of those cardholders [...]