Check out our current special offers or buy the credit card that suits your needs and has the rewards you want. The acquisition will diversify Ally Financial`s product offering and increase its opportunities in the credit card segment, including unsecured broad spectrum service and reseller services. „The most thrifty consumers know not only which cards to choose, but also how to maximize their rewards,“ added Morais. „If stacked against all the credit cards available to consumers, the Ally CashBack credit card is a very competitive product.“ Jeffrey J. Brown, CEO of Ally Financial, commented on the acquisition: „CardWorks is a leading credit card platform in the United States, and this acquisition is an important step in Ally`s development to be a comprehensive financing provider for our customers. The companies „believe it is in the best interests of our customers and stakeholders to terminate the contract,“ Ally CEO Jeffrey Brown said in the press release. Ally CashBack credit card holders are entitled to obtain the following bonuses with their new card: According to the agreement, the bank`s 100% subsidiary, Merrick Bank, will merge with Ally Bank. „When we evaluated the options to expand our product line, adding a credit card to our portfolio was a logical step, as it was a frequent request from our Ally Bank customers,“ said Diane Morais, Chief Executive Officer and President of Ally Bank. „We are confident that the Ally CashBack credit card structure will be available to customers, and the 10% bonus function for premiums paid into an Ally Bank account is consistent with our philosophy of helping them maximize their savings opportunities.“ CHARLOTTE, N.C., June 24, 2020 /PRNewswire/ — Ally Financial Inc.
(NYSE: ALLY) and Cardholder Management Services, Inc. (CardWorks) announced today that they have agreed to terminate their merger agreement announced on February 18, 2020. The board of directors of each company approved the termination after careful consideration of the reasonable impact of COVID-19 on global markets and the economy. None of the parties will be subject to termination or demerger fees due to the reciprocal decision to terminate the merger treaty. CardWorks is a non-premium lender of credit cards and consumer finance, with a fortune of $4.7 billion and deposits of $2.9 billion. Established in 1987, CardWorks is a lender and provider of consumer financing and a human-centered compliance organization made possible by data and technology. CardWorks is a leading service provider for masterCard/Visa cards, private label cards, secure cards and other unique products, as well as secure and unsecured installment credits. Our selector can help you find the card that has the rewards and benefits you want Increasingly, reward programs have become an important part of the overall promise for credit cards, and a video press release from Ally emphasizes that smart consumers do their homework before choosing a product.