Magazine article Marketing

Co-Op Shows Interest in BCCI Credit Card Buy

Magazine article Marketing

Co-Op Shows Interest in BCCI Credit Card Buy

Article excerpt

Co-op shows interest in BCCI credit card buy

Co-operative Bank is eyeing up part of disgraced BCCI's credit card portfolio in a bid to expand its 500,000 card base.

The revelation marks a U-turn from the Co-op's previous lack of interest in the 90,000 BCCI credit card portfolio, that has been seeking a buyer since the beginning of this year.

Sources at the Co-op say the change in attitude comes because of a change in the conditions of purchase that have arisen due to the scandal surrounding BCCI.

"We had considered BCCI's credit card portfolio before the scandal," explains one Co-op insider, "but the offer then was for all the cards in one package. We said no. Now the cards are being sold off separately, and that changes things totally."

Co-op is only interested in two of BCCI's 15 affinity cards: the Visa-linked Green card (with 50,000 card holders) and the Visa card tied to the Royal Society for Nature Conservation (with 3300 holders).

It appears to be alone in its interest. …

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