Household Signs HP`s hpshopping.com As New Private Label Credit Card Client
Agreement Strengthens Household`s Leadership
In Private Label Credit Programs for e-retailers
PROSPECT HEIGHTS, Ill., April 16 --
Household International, Inc.`s (NYSE: HI) private label credit card unit has
signed an agreement with Hewlett-Packard Company`s award-winning
direct-to-consumer e-commerce subsidiary, hpshopping.com. Household will
manage hpshopping.com`s private label credit card program -- referred to as
"hpshopping efinance" on the Web site -- to hpshopping.com`s U.S. customer
base.
"We are proud to work with hpshopping.com on this customized financing
program," said Sandy Derickson, managing director and CEO, Household Retail
Services. "HPshopping.com joins a number of smart, innovative e-retailers
that have selected Household to manage their private label credit cards."
"HPshopping.com is committed to providing its customers with a world-class
online shopping experience," said Mike Bridge, chief marketing officer,
hpshopping.com. "With Household`s private label solution, we can offer our
customers online credit approval, flexible payment plans and access to
attractive financing promotions."
Household offers private label credit cards and sales finance products for
several other online retailers in addition to hpshopping.com, as well as other
national and regional merchants in industries such as furniture, department
stores, specialty discount and apparel. Household also provides financing for
dealers in motorcycles, ATVs, personal watercrafts and snowmobiles.
Launched in May 1998, hpshopping.com is a leading e-tailer of personal
digital solutions, featuring a complete selection of trusted HP home and home
office products. HPshopping.com is a key element of HP`s goal to reach U.S.
customers anytime, anywhere with personalized product features, end-to-end
purchase convenience and excellent customer service. HPshopping.com is
headquartered in Santa Clara, Calif., and is a wholly owned subsidiary of HP.
Founded in 1878, Household`s businesses are leading providers of consumer
finance, credit cards, non-prime auto finance and credit insurance products in
the United States, United Kingdom and Canada. In the United States,
Household`s largest business operates under the two oldest and most widely
recognized names in consumer finance -- HFC and Beneficial. Household is also
one of the nation`s largest issuers of private-label and general purpose
credit cards, including the GM Card and the AFL-CIO`s Union Privilege card.
For more information, visit the company`s website at
http://www.household.com .
CONTACT:
Craig A. Streem, 847-564-6053
or
Don Lesinski, 847-564-7925
both of Household International
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