Dillard's enters new credit card program agreement with Citi and Mastercard; replaces existing Wells Fargo program

DILLARD'S, INC.

Citi will purchase existing Dillard's credit card accounts from Wells Fargo; new program to launch late summer 2024.
Mastercard becomes exclusive payment network for new co-branded cards; private label card also offered.
Agreement has 10-year term with automatic renewals; DIC receives monthly compensation and one-time launch payment.
Wells Fargo had provided non-renewal notice; Current Agreement terminates Nov 2024 unless earlier purchase.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DILLARD'S, INC. entered into Credit Card Program Agreement with Citibank, N.A. (effective 2024-01-26).

Action: entry
Counterparty: Citibank, N.A.
Effective: 2024-01-26

Exact text from the filing

On January 26, 2024 (the “Effective Date”), Dillard’s, Inc. (the “Company”) and a subsidiary of the Company, Dillard Investment Co., Inc. (“DIC” and together with the Company, the “Company Parties”), entered into a Credit Card Program Agreement (the “Program Agreement”) with Citibank, N.A. (“Citi”).

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DILLARD'S, INC. filing history →

Source: SEC EDGAR

accession 0000028917-24-000002

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