dcsimg CompuCredit to Acquire CardWorks - indexcreditcards.com

Credit Card Calculators

How long will it take to pay off my credit card?

In the News
  • "As comprehensive a list as you'll find of all the credit card offers on the table now."

CompuCredit to Acquire CardWorks

by Peter Andrew
CompuCredit to Acquire CardWorks

Atlanta-based CompuCredit, marketer of the Aspire credit card and other cards for “underserved” markets, has acquired CardWorks of Woodbury, New York, the parent company of Merrick Bank and Cardholder Management Services (CMS). To this point, CompuCredit has been a marketer of credit cards through its partnership with Columbus Bank and Trust Company, with most cards targeting a consumer audience not served by major credit card issuers due to past credit difficulties.

While not mentioning its future with Columbus Bank and Trust, the acquisition of Merrick Bank as part of the CardWorks deal would give CompuCredit not only the existing Merrick Bank card offerings but also its own financial institution from which to issue new cards. According to David G. Hanna, Chairman and CEO of CompuCredit, the acquisition should be completed late in the fourth quarter or in early 2006. Hanna did not mention if the combined companies would remain at their current locations or be joined at a single headquarters.

Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.

Published  (Modified )

Share this article with: