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In 1993, Sears spun off its Dean Witter division into a new publicly-traded company, [15] and began to accept MasterCard and Visa in addition to its store credit card and Discover. Discover became part of the Dean Witter financial services firm, and the new company was called Dean Witter, Discover & Co.
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Its credit card operations accounted for a loss of $22 million in the fourth quarter of 1986, and a loss of $25.8 million in the first quarter of 1987. [ 4 ] In March 1993, Sears sold off its financial services branch as a new independent publicly traded company called Dean Witter, Discover & Co. with Dean Witter Reynolds in charge. [ 5 ]
Independent companies that provide services under the Sears brand: Sears Credit Card – Sears credit card and Sears MasterCard is owned and operated by Citibank since 2003. [76] Sears Flowers – an online store that was owned and operated by Teleflora which sold Flowers, Plants and gifts for same day delivery via the Teleflora network. Their ...
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On April 1, 2016, Citigroup became the exclusive issuer of Costco's branded credit cards. [49] [50] The bank's private-label credit card division, Citi Retail Services, issues store-issued credit cards for such companies as: American Airlines, Best Buy, ConocoPhillips, Costco, ExxonMobil, The Home Depot, Sears, Shell Oil, and Staples Inc.