Macquarie Bank acquires Woolworths Card Portfolio.

[ric_melb]

News is in the business pages of the various newspapers.
Macquarie Bank will buy the $362 million Woolworths credit card portfolio from HSBC.
The deal is expected to complete in the 2nd quarter this year, though HSBC will continue providing some services to Macquarie until 2015.
Woolworths say it should be business as usual regarding cards and their conditions benefits etc.

I am sure members will have fun comparing the new and old.

 

[cove]

The Woolies EDRCC is a favourite personal card for me.
We are MQG shareholders on the basis of if you cannot beat them you may as well join them so I hope Macquarie got a good deal.

 

[Isochronous]

Great, from one incompetent CC issuer to another.