As part of the extended partnership, the four companies will continue to manage the HSBC’s private label credit card programs. Additionally, the companies have agreed to assign their program agreements to Capital One, which has revealed its plans to acquire HSBC’s Card and Retail Services business in August 2011.
Saks has been a partner of HSBC since 2003 while American furniture retailer Darvin Furniture has extended a relationship started over 30 years ago. Jordan’s Furniture has also been an HSBC private label partner since 1991.
HSBC Card and Retail Services is a provider of MasterCard and Visa credit cards across the US.
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