Cantrex rolls out new credit card

Group says it has negotiated favorable terms

Michael Knell -- Furniture Today, June 2, 2009

MONTREAL — Cantrex has rolled out a new retail credit card program that allows consumers to shop across the buying and marketing group's various banner and affiliate stores across the country.

Canadian buying and marketing group Cantrex is offering this new consumer credit card to its member stores.

"The goal is to drive more sales across all of our banners and member programs," said Alain Masse, president and general manager of the group.

If a consumer used the new Cantrex card to purchase flooring from a United Carpet outlet in British Columbia this year and moves to Quebec next year, she can use the same card to purchase furniture from an Accent store.

The program, offered in English and French, will be administered by the Toronto-based VCF Inc., a division of TD Retail Card Services and replaces the group's Premier consumer credit program.

"In this difficult economy, we believe that it is important to select a financially sound, viable Canadian company as a credit supplier. What's more, TD RCS offers superior service in every region throughout Canada," the group said in a note to members, adding, "The recession has enabled us to negotiate excellent terms, conditions and advantageous rates."

Masse said it's now difficult for non-aligned independent retailers to offer their consumers a private-label credit card - something that was very common not so long ago. In recent months most of the big finance houses, such as including Citigroup and HSBC, have gotten out of that particular business.

He said that access to the credit card program "is a real business-building benefit we're providing to our members." And he added that it's part of Cantrex's ongoing effort to establish itself as a recognizable retail brand across the country.

The new Cantrex card will be the platform used to offer member store customers flexible financing and payment plans, including no payment, no interest, low rates and equal payments.

"This is a new generation credit card program and is part of a branding process that will generate consumer awareness of both Cantrex and its members," Masse said. "We want consumers to know that if a retailer is a member of Cantrex, she can count on that store for the best in quality and service."

Cantrex launched the program in May and is rolling it out to members. In addition to the new Cantrex Card, group members also are eligible to sign up for the Sears Card program, operated Sears Canada, the group's parent company.