2018 was a hot year for Private Label Credit Cards, with large shifts between top players like Capital One, Citi, Comenity, and Synchrony. 9 days into 2019 is a new deal with Bob Mills Furniture, a top 100 US Furniture retailer, says today’s MarketWatch.
Marketwatch reports on a win by TD Bank:
- The 47-year-old Oklahoma City-based company ranks among Furniture Today’s Top 100 offering brand-name furniture, bedding, rugs and home accent pieces.
- Bob Mills’ partnership with TD Bank will make customizable and flexible financing available to consumers across the store’s footprint and through their website, as well as elevate the retailer’s seamless customer experience through enhanced technology capabilities.
- TD Bank’s U.S. Partnerships business (tdpartnershipprograms.com) launches and administers new credit card portfolios for merchants across all sales channels, and acquires retailers’ existing credit card portfolios.
Mercator Advisory Group covers the private label credit card market in its Credit Practice. Here is a link to the latest report. 2019 will surely be an exciting year in the space as Walmart shifts to Capital One. LLBean moved from Barclaycard to Citi, and many more to follow.
Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group