Hudson’s Bay Company credit card portfolio: Being Acquired by Capital One

Capital One has declared that it has completely acquired Hudson’s Bay Company credit card portfolio and other assets from GE Capital Retail Finance. This business deal was publicized last November 9 of 2010, and has more or less tripled the amount of customer accounts Capital One Canada have been handling.

This acquirement as well as the partnership with Hudson’s Bay Company would go well with the growth strategy as Capital One will keep on expanding the distribution channels and developed their customer headquarters in Canada. The company will persistently search for means to expand their credit card product offers to consumers and extend their services that they can offer to their partners.

The portfolio being acquired by Capital One Canada comprises outstanding receivables of around $1.3 billion, and a relocation of just about 400 employees which are manning the servicing of Hudson’s Bay Company’s financial services business from the old issuer to new owner which is Capital One.

Hudson’s Bay Company’s well-known and reliable brand made it an excellent partner for Capital One, particularly as they look forward to widen their collection of credit card products in Canada. The company has been aiming on offering outstanding importance and service to trustworthy Hudson’s Bay Company cardholders.

Having Capital One Canada as a leading industry in analytical proficiency and credit risk management, it is the essential to put those capabilities in order to strengthen and enhance the Hudson’s Bay Company credit and portfolio.

What would happen to the existing Hudson’s Bay Cardholders?

Capital One is eager to operate along with the Hudson’s Bay Company. Their objective is to continue the traditions of providing quality service that are identical with the company’s performance. This is achieved as they have been offering innovative credit card as well as services. With that, the existing Hudson’s Bay Company cardholders can look forward and expect that the services will remain to be similar and will gradually become better and better.

Together Capital One and Hudson’s Bay Company can grant amazing benefits and exclusive services to the countless of Hudson’s Bay Company customers that are collecting rewards. For now, there has been no news being aired out regarding new credit card products. Yet, it has been cited previously that Capital One are having plans on improving their credit card products. This will benefit surely go to Capital One clients as well as Hudson’s Bay Company clients.

It would be exciting to see what type of credit cards will emerge in the future considering that Hudson’s Bay Company and Capital One are working together. The possibility would be to expect credit cards that will be allowing Capital One clients to accumulate or exchange points into Hudson Bay reward points.

See Also

Student Credit Cards Canada

Rewards Credit Cards Canada

Prepaid Credit Cards Canada

Points Credit Cards Canada

Platinum Credit Cards Canada

Gold Credit Cards Canada

Bad Credit Cards Canada

Balance Transfer Credit Cards Canada

Best Low Interest Rate Credit Cards Canada

Rewards Program Canada

External Links

Tradingmarkets.com

Ezcreditcard.net

En.wikipedia.org