Private-Label Credit Cards: Still Relevant but Losing Luster

Private-label credit cards, often known as “store cards” or “white-label credit cards,” are products that can be used only at that specific merchant’s location. Private labels often offer promotional financing, such as deferred interest, allowing retailers to drive customers toward products and services. Private-label cards are an important part of the overall credit card landscape and are widely deployed, but they are a product facing several threats.

This report provides an overview of the private-label card market in the United States. It examines usage and ownership trends, significant retailers’ offerings, and risks for consumers. The report also looks at competitive threats such as instant financing and buy now, pay later (BNPL) loans and explores how these products are changing the market for private-label cards.

Key questions discussed in this report:

• How has the private-label card market changed since 2019?
• What differentiates the private-label card from other in-store financing product lines?
• What are the competitive threats to market share for private-label cards?

Companies mentioned:

7-Eleven, Ace Hardware, Affirm, Albertsons Companies, Aldi, Amazon, Ann Taylor, Apple Store / iTunes, AT&T Wireless, Athleta, Banana Republic, Best Buy, Bread Financial, Capital One, Citi, Comenity Bank, Costco Wholesale, CVS Health Corporation, Dollar General, Dollar Tree, Equifax, H.E. Butt Grocery, J. Crew, Kay Jewelers, Lowe's Companies, Macy's, Meijer, Michaels, Old Navy, Publix Super Markets, Royal Ahold Delhaize USA, Sezzle, Silicon Valley Bank, Synchrony, Target, TD Bank, The Home Depot, The Kroger Co., TJX Companies, TransUnion, Verizon Wireless, Walgreens, Walmart, Wells Fargo, Zales