MoFo Advises Dillard’s in New Credit Card Agreements with Citi and Mastercard

Morrison Foerster advised Dillard’s, among the nation’s largest fashion retailers - operating 273 Dillard’s locations including 27 clearance centers spanning 29 states, with new agreements with Citi and Mastercard to provide a credit card program for Dillard’s customers. Citi will purchase the existing Dillard’s credit card accounts and Mastercard will serve as the exclusive payment network for co-branded cards offered under the new program.

The Dillard’s credit card program offered by Citi will include a new co-branded Mastercard as well as a private label credit card. The new co-branded Mastercard will replace the existing co-branded card. Additionally, Citi will provide customer service functions and support certain Dillard’s marketing and loyalty program activities related to the new program. The companies expect to launch the new program in late summer 2024 for new Dillard’s credit applicants. The transfer of existing accounts to Citi is expected in the fall of 2024.

The MoFo deal team advising Dillard’s was led by Washington, D.C. financial services partner Crystal Kaldjob.

Read the company’s press release.