Wells Fargo will fund, issue and service Dillard’s credit cards

San Francisco -- Wells Fargo & Company and Dillard’s have entered into an agreement for Wells Fargo to fund, issue and service Dillard’s-branded private label and co-brand credit cards. Wells Fargo will also manage the cardholder loyalty program for Dillard’s.

The program agreement has a 10-year term and is anticipated to become operational in the fourth quarter of 2014, following the scheduled expiration of Dillard’s current program agreement. Financial terms of the agreement were not disclosed.

“We are truly happy to announce this new agreement with Wells Fargo, one of the strongest and most reputable banks in the country,” said Dillard’s president Alex Dillard. “We are pleased with this new partnership on many levels, from the financial arrangements to our shared vision for future program growth. We talked with a number of potential bank partners and we believe Wells Fargo’s vision for the success of our credit card program is completely aligned with ours. We are looking forward to a very rewarding partnership with Wells Fargo.”

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