BENTONVILLE, Ark.—Capital One and Walmart are reporting they have ended the agreement that made Capital One the exclusive issuer of Walmart's consumer credit cards.
Walmart and Capital One launched their partnership in 2018 after the retail giant ended its two-decade partnership with Synchrony Financial.
Capital One began issuing Walmart-branded credit cards starting in 2019.
“The announcement added that Capital One will retain ownership and servicing of the credit card accounts and that additional information will be provided in the coming months to Walmart credit card holders,” Fox Business reported. “The existing credit card portfolio represents about $8.5 billion of consumer loans.”
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