Continental Finance has acquired the Today Card Portfolio, a card portfolio previously held by Elevate Credit & Capital Community Bank. The acquisition marks a significant milestone in Continental Finance’s strategic expansion efforts. Continental specialises in the marketing and servicing of bank-issued credit cards for people with less than perfect credit scores. It says that the acquisition aligns with its vision to empower individuals with innovative financial solutions.
Continental Finance offers several unsecured credit cards that cater to people with limited or bad credit. Typically, this means consumers with FICO scores of 300 to 669. The cards offer higher approval rates than many might expect but typically charge high fees.
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“We are thrilled to announce the acquisition of the Today Card Portfolio,” said Stephen McSorley, President at Continental Finance. “This strategic move underscores our unwavering dedication to providing consumers with access to best-in-class bank-issued financial products. The addition of the Today Card Portfolio not only strengthens our market presence. It also adds 25,000 new credit card holders to the portfolio we service. This comprises approximately $1.1bn in credit card receivables and 1.3 million credit card accounts.”
Continental Finance, along with banking partner, The Bank of Missouri, completed a seamless transition for customers on 25 February, 2024. This preserves their existing benefits, while introducing new features and offerings.
Through this strategic acquisition, Continental Finance reaffirms its dedication to driving innovation, fostering growth, and delivering unparalleled value to customers. As the financial services landscape continues to evolve, Continental Finance remains steadfast in its mission to empower individuals to achieve their financial goals.
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