Credit News
February 2008
February 2008
Discover Financial Services Announces the Sale of its U.K.
Card Business
February 7, 2008
Discover Financial Services announced that it will sell it Goldfish
credit card business to Barclays Bank PLC. The sale of the U.K.
based credit card business will consist of 1.7 million Goldfish and
affinity card accounts with approximately $4 billion of receivables.
The sale will allow Discover to focus on its profitable and growing
U.S. credit card and third-party payments businesses. Discover
will receive $70 million in cash for the sale of the Goldfish
business.
WaMu Introduces the PetSmart PetPerks Visa Card
February 20, 2008
WaMu has launched a new credit card designed specifically for
pet owners. The PetSmart PetPerks Visa card gives cardholders
three points for every dollar they spend on purchases at
PetSmart, PetSmart.com, Banfield and The Pet Hospital(R).
Cardholders will also earn one point for every dollar they spend
everywhere else Visa is accepted. Cardholders may redeem their
points for PetSmart gift cards, donations to PetSmart Charities,
travel rewards and statement credits. Cardholders can also put a
photo of their pet right on the card. In addition, the PetSmart
PetPerks Visa also has no annual fee and cardholders who make
a purchase within the first year will receive a $20 PetSmart gift
card.
Capital One Launches Preferred No Hassle Miles card
February 21, 2008
Capital One introduced a new credit card tailored to small
business owners. The Preferred No Hassle Miles card offers
customers two miles per dollar on all travel and entertainment
purchases including airlines, hotels, restaurants, buses, car
rentals, cruise lines and movie theatres. In addition customers will
earn one mile per dollar spent on all other purchases. The
Preferred No Hassle Miles card also has no annual fee and there
is no limit on miles that can be earned. Customer can redeem
their miles for travel,merchandise, gift cards, and cash.
Card Business
February 7, 2008
Discover Financial Services announced that it will sell it Goldfish
credit card business to Barclays Bank PLC. The sale of the U.K.
based credit card business will consist of 1.7 million Goldfish and
affinity card accounts with approximately $4 billion of receivables.
The sale will allow Discover to focus on its profitable and growing
U.S. credit card and third-party payments businesses. Discover
will receive $70 million in cash for the sale of the Goldfish
business.
WaMu Introduces the PetSmart PetPerks Visa Card
February 20, 2008
WaMu has launched a new credit card designed specifically for
pet owners. The PetSmart PetPerks Visa card gives cardholders
three points for every dollar they spend on purchases at
PetSmart, PetSmart.com, Banfield and The Pet Hospital(R).
Cardholders will also earn one point for every dollar they spend
everywhere else Visa is accepted. Cardholders may redeem their
points for PetSmart gift cards, donations to PetSmart Charities,
travel rewards and statement credits. Cardholders can also put a
photo of their pet right on the card. In addition, the PetSmart
PetPerks Visa also has no annual fee and cardholders who make
a purchase within the first year will receive a $20 PetSmart gift
card.
Capital One Launches Preferred No Hassle Miles card
February 21, 2008
Capital One introduced a new credit card tailored to small
business owners. The Preferred No Hassle Miles card offers
customers two miles per dollar on all travel and entertainment
purchases including airlines, hotels, restaurants, buses, car
rentals, cruise lines and movie theatres. In addition customers will
earn one mile per dollar spent on all other purchases. The
Preferred No Hassle Miles card also has no annual fee and there
is no limit on miles that can be earned. Customer can redeem
their miles for travel,merchandise, gift cards, and cash.
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