Private label credit portfolios continue to shift as the issuer landscape changes. Bon-Ton Stores, the operator of 276 stores under differing brands, has announced that Alliance Data will take over as issuer of its private label credit card program in 2012.
Under the terms of the agreement, Alliance Data, through its bank subsidiary, will provide end-to-end proprietary credit card services from account acquisition to multi-channel marketing and customer service. Bon-Ton’s current proprietary credit card program will remain in place until the accounts portfolio conversion occurs, which is anticipated in the second quarter of fiscal 2012.
HSBC has been the issuer for the program. The HSBC private label portfolio was recently acquired by Capital One.