Circuit City, Morgan Extend Credit Agreement
Circuit City announced Monday that it has extended its relationship with the Wall Street giant JP Morgan Chase, which will remain the retail giant’s primary provider of rewards credit cards and other financing tools.
Morgan will continue to “provide consumer financing and rewards through the Circuit City Rewards and Rewards Visa cards,” Circuit City said in a statement. JP Morgan Chase purchased the chain’s private-label credit portfolio three years ago. Circuit City, according to CFO Bruce Besanko, plans to introduce a new technology platform along with Chase in 2008.