Sam’s Club Extends Contract for Branded Credit Card Program with GE Capital Retail Bank and Converts Discover Card Co-Branded Cards to MasterCard
As part of the extension, GE Capital’s Retail Finance business will continue to manage and service the credit card programs for Sam’s Club Savings, Business and Plus members. Under the agreement, the Sam’s Club co-branded credit card programs will be converted to MasterCard later this year, providing members with a broader card acceptance network, as well as more robust features and benefits.
Walmart has also extended their relationship with GE Capital Retail Bank and branded cards will transition to MasterCard later this year.
GE Capital’s Retail Finance began its relationship with Sam’s Club in 1993, providing credit programs for business members; adding revolving credit programs for Sam’s Club consumer members in 1995; and currently offering Sam’s Club private-label credit card programs and co-branded cards for Savings, Business and Plus members – all of which double as membership cards.