GE Capital Retail, Sam’s extend relationship

Sam’s Club, a division of Wal-Mart Stores, has finalized a multi-year agreement with GE Capital Retail Bank, a unit of Fairfield-based General Electric, to extend their existing relationship to provide Sam’s Club-branded credit cards to club members in the U.S. and Puerto Rico.
As part of the extension, GE Capital’s Retail Finance business will continue to manage and service the credit card programs for Sam’s Club Savings, Business and Plus members. The Sam’s Club co-branded credit card programs will be converted to MasterCard later this year, providing members with a broader card acceptance network, as well as more features and benefits. Walmart has also extended their relationship with GE Capital Retail Bank and branded cards will transition to MasterCard later this year.
GE Capital’s Retail Finance began its relationship with Sam’s Club in 1993, providing credit programs for business members. It added revolving credit programs for Sam’s Club consumer members in 1995 and currently offers Sam’s Club private-label credit card programs and co-branded cards for Savings, Business and Plus members — all of which double as membership cards.