It would be like any other purchase of a credit card portfolio, the billing would change over to Citi, as far as the cards, im sure you can continue using them until new ones are issued! I am very glad to see Citi taking over their portfolio to be honest, Capital One isnt as top notch in my opinion as a prime card issuer like Citi is, as far as I see it, its a win win for Citi and the customer.

I completely agree, it is a win-win!

My Best Buy store card was officially taken over by Citi this month!!! Happy it’s no longer with Capital One. At this point I only have one credit card (with my local credit union) and a Best Buy card. I was going to close this account until I recently learned of Citi taking over from Capital One. Getting a Citi Card can be tough, so I am keeping this open to build credit with Citi. My current credit line provided by Capital One is $1800.00.

It would be like any other purchase of a credit card portfolio, the billing would change over to Citi, as far as the cards, im sure you can continue using them until new ones are issued! I am very glad to see Citi taking over their portfolio to be honest, Capital One isnt as top notch in my opinion as a prime card issuer like Citi is, as far as I see it, its a win win for Citi and the customer.

I agree with you Patrick12 about Capital One. I think it's great that their selling to Citibank. It's definately a win for them and the customer! Capital One may be easier to get credit with but you want a card that will grow with you also. That's what is good about Citibank they take good care of their customers. They're customer service is also great in my experience with them!

It would be like any other purchase of a credit card portfolio, the billing would change over to Citi, as far as the cards, im sure you can continue using them until new ones are issued! I am very glad to see Citi taking over their portfolio to be honest, Capital One isnt as top notch in my opinion as a prime card issuer like Citi is, as far as I see it, its a win win for Citi and the customer.

I'm assuming Wanderer that this will be " transparent" to the consumer... ?

Capital One is on the move selling store-branded credit cards.


WASHINGTON – Capital One Financial, the nation’s third-largest issuer of store-branded plastic, said Tuesday that it agreed to sell its portfolio of Best Buy credit card accounts to Citigroup, just two years after buying it.

The McLean, Va.-based financial firm also did not disclose the sales price but said that the value of the Best Buy accounts is $7 billion.
Capital One said there would be no significant gain or loss on the transaction, which it expects to close in the third quarter.
Two years ago, Capital One leaped to the front of the store card business with the $2.6 billion purchase of HSBC’s U.S. credit card portfolio, which included the Best Buy affiliation.

Best Buy, based in Richfield, did not respond to requests for comment. The sale includes Best Buy cards that can only be used at its stores and MasterCards bearing the retailer’s name that can be used anywhere.
WASHINGTON POST