Argos card sold to New Day

matthewdickinson

The Argos store card has been sold to New Day. No changes at the moment apparently. I think this is the last store card remaining not connected to Mastercard or Visa.

hxxp://help.argos.co.uk/letter

Stuart_W

I was astonised to read that 20% of all sales at Argos are via Argos credit, I didn't think it would be so high! Is this a high street legacy thing? Did they used to lend when others didn't? The £720 million price tag New Day have paid shows it must be quite a sizeable and quite profitable portfolio. That is just shy of the price Coventry Building Society are paying to buy the Co-op Bank with £40bn of assets and 2 million customers, but then that's about the same number as Argos credit has as customers. 

dr_adidas01

Received this email about my Argos card today it says there will be no immediate changes.