Chase Purchases Kohl's Credit Card Accounts

Chase

Purchases Kohl's Credit Card Accounts

Department store chain Kohl's has entered into an agreement

with Chase in which all 13-plus million Kohl's credit card accounts

would be purchased by Chase. The outstanding balances on those

accounts is estimated at $1.5 billion.

Chase

will be the new issuer of all Kohl's private label credit cards

going forward. (Kohl's issued cards directly in the past.) Kohl's

will continue to manage all customer service, advertising and

marketing functions for the cards.

Published 03/06/06 (Modified 05/07/12)