More Card Issuers Buy up Retail Credit Card Portfolios

LOwe, Frederick H.
May 2006
Cards & Payments;May2006, Vol. 19 Issue 5, p42
Trade Publication
The article reports on the significant increase of retail credit card portfolios buy up in the U.S. The J.P. Morgan Chase & Co. has acquired the $2.1 billion private-label and MasterCard cobranded card portfolios of Sears Canada Inc. Citigroup Inc. has agreed to buy the card receivables of Federated Department Stores Inc. portfolio which include a propriety card program and a cobranded Visa.


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