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GE, Ashley to offer credit cards

Larry Thomas -- Furniture Today, January 31, 2011

ARCADIA, Wis. — Ashley HomeStores has signed a multi-year consumer financing agreement with GE Capital Sales Finance and will launch a branded credit card program at this week's Las Vegas Market.

The new financing program, which will be available in the more than 420 Ashley stores in the U.S. and Puerto Rico, includes features such as deferred interest, extended financing terms, cardholder discounts and online account management.

"This credit program is a great fit for us on multiple levels with a partner that knows how to support growing businesses," said John Disa, president of Ashley HomeStores. "GE Capital's expertise and capabilities will provide a wide range of payment options and market-leading technology solutions to meet the needs of our customers and locally owned and operated Ashley Furniture HomeStores."

GE Capital's sales finance unit also acquired the existing $500 million Ashley Home- Stores consumer credit portfolio from Citi Retail Partner Cards.

The Ashley portfolio is in addition to the $1.6 billion consumer credit portfolio GE Capital acquired from Citi Retail in October. The October deal included portfolios in the flooring, consumer electronics, HVAC and home furnishings industries.

"Being the consumer financing provider for Ashley Furniture HomeStores further reinforces our longstanding commitment to the home furnishings industry and Main Street businesses by providing tools retailers need to build their business and serve their customers through financing," said Glenn Marino, president and CEO of GE Capital Sales Finance, the largest provider of consumer credit programs in the home furnishings industry.

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GE Capital to offer Ashley branded credit cards

Jan 19, 2011

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