Earlier this week, Capital One Financial inked a deal with financial giant Citigroup to sell a portfolio of Best Buy, private label (cards which can only be used at Best Buy) and co-branded (cards branded with Best Buy's name which can be used anywhere) credit card accounts. Although the price for which the $7 billion credit card portfolio will change hands hasn't been disclosed, both parties claim that the deal was struck at book value with neither expecting any material profit or loss, as a re...
Earlier this week, Capital One Financial inked a deal with financial giant Citigroup to sell a portfolio of Best Buy, private label (cards which can only be used at Best Buy) and co-branded (cards branded with Best Buy's name which can be used anywhere) credit card accounts. Although the price for which the $7 billion credit card portfolio will change hands hasn't been disclosed, both parties claim that the deal was struck at book value with neither expecting any material profit or loss, as a re...
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