Kurt Peters , Senior Executive Editor
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 .
Craig A. Streem, 847-564-6053
Don Lesinski, 847-564-7925
both of Household International