As the provider of private label credit and marketing services for Signet, Alliance Data significantly increases its existing strong presence in the jewelry space. Alliance Data will underwrite new accounts that are consistent with the prime-only credit quality portion of the portfolio that Alliance Data will acquire and expects that the performance of the Signet Jewelers credit card portfolio, once acquired, will also be consistent with its overall private-label credit card portfolio. The remaining portion of Signet’s credit card portfolio may be acquired and/or serviced by other parties not affiliated with Alliance Data.
Alliance Data will employ its best-in-class data assets
Article source: http://www.prnewswire.com/news-releases/alliance-datas-card-services-business-and-signet-jewelers-announce-strategic-long-term-agreement-for-private-label-credit-card-services-agree-to-purchase-of-approximately-1-billion-prime-only-credit-quality-portion-of-signets--300463598.html