Private Label Credit Card Companies

All of us are familiar with the big four credit card labels that are issued throughout the world visa mastercard discover and american express. What is a private label credit card.

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Benefits of private label credit card management solutions processing.

Private label credit card companies. While similar in some ways to co branded general purpose credit cards private label credit cards sometimes abbreviated plcc are a complementary product that addresses different needs. Terms and conditions for private label credit cards are made by contracts between the retailer and the third party. Private label credit card.

I of course everything changed when the credit crisis and recession struck. Packaged facts estimated total private label credit card loans at 1086 billion for 2013. A private label credit card is a type of revolving credit plan managed by a bank or commercial finance company for either retail or wholesale manufacturers such as department and specialty stores.

Among the major issuers of the cards are citi retail services ge capital retail bank capital one financial corp alliance data systems td bank wells fargo co. If the retailer does not manage the private label card a third party issues the cards and collects the payments from cardholders. These are all general purpose cards that can be used basically anywhere that money can be spent except of course for companies that take cash only.

10th edition report has been added to research and markets offering. Private label credit cards do not carry a credit card logo such as visa or mastercard and generally are not used with other merchants. With annual revenues of 1 million and a business pulling in customers from up to 100 miles away hoegger is a prime candidate for a private label credit card according to stewart armstrong of.

Private label credit cards which can only be used in a defined group of retail locations are a unique and very competitive market segment within the credit card industry. Corecards private label credit solution is built on top of our robust financial transaction processing account management platform the coreengine. Branded credit card this ubiquitous phrase helped propel the private label credit market to nearly 114 billion in total balances by 2007.

The private label credit cards in the us. A private label credit card enables you to award your customers a line of credit so they can shop on credit in your store. Private label cards giving retailers a boost.

Private label credit cards are cards branded for a specific retailer independent dealer or manufacturer. Also these type of credit cards typically arent powered by card processing companies such as visa and mastercard. What is a private label credit card.

The private label credit card purchase value to grow at an average annual rate.

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