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.
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