Dillard’s, Citi and Mastercard have entered into new agreements to provide a credit card programme for Dillard’s customers. Citi will purchase the existing Dillard’s credit card accounts. Meantime, Mastercard will serve as the exclusive payment network for co-branded cards offered under the new programme.
The Dillard’s credit card programme from Citi includes a new co-branded Mastercard as well as a private label credit card. The new co-branded Mastercard will replace the existing co-branded card. Additionally, Citi will provide customer service functions.
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Citi to support Dillard’s marketing and loyalty programme
“We are truly pleased to announce this new relationship with Citi and Mastercard,” said Dillard’s President Alex Dillard. “Our customers expect and deserve the highest level of customer care at Dillard’s. That includes providing premium credit services. We are confident we have aligned ourselves with the best in the business to offer first-class credit choices. And exceptional cardholder experiences at Dillard’s for years to come.”
“We’re proud to enter this new long-term agreement with such a beloved and iconic brand like Dillard’s,” said Kartik Mani, Head of Citi Retail Services and Head of Connected Commerce. “Citi looks forward to bringing value to Dillard’s loyal customers through access to credit, rewards, and best-in-class digital capabilities from our trusted financial institution.”
“Today’s digital consumers expect value beyond a transaction, from brands they admire and trust. We’re looking forward to creating seamless, safe and secure payment experiences for Dillard’s co-brand cardholders, with benefits and rewards that complement cardholders’ dynamic lifestyles,” said Jason Lane, executive VP, Global Account Management, Mastercard.
The companies expect to launch the new program in late summer 2024 for new Dillard’s credit applicants. The transfer of existing accounts to Citi is expected in the fall of 2024.
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By GlobalDataIn 2014, Wells Fargo agreed a deal to fund, issue and service Dillard’s-branded private label and co-branded credit cards.
Under the partnership, Wells Fargo managed the cardholder loyalty programme for Dillard’s. This was extended for 10 years, following the expiry of the then existing agreement with GE Consumer Finance.
