Press Room – May 29, 2008

NHFA Members Get Private Label Credit Card Savings

Citi Retail Services has lowered its discounts for retailers participating in its private label credit card program for NHFA members

HIGH POINT, NC – In today’s tough economic climate, members of National Home Furnishings Association (NHFA) have something to celebrate — lower discount rates on their private label credit card sales. Effective June 1, the basic rates for six- and twelve-month plans have been lowered 50 basis points by Citi Retail Services. This program enhancement will help retailers improve their bottom line while they offer attractive credit options to consumers.

“This is one of the best credit programs available in the industry and it just got better,” says Doug Kays, NHFA president. “It’s just one of the ways NHFA helps retailers improve their business.”

In addition to this new lower pricing, most NHFA members will continue to receive a quarterly rebate check based on their total private label credit volume with Citi Retail Services. NHFA members currently participating in the program will receive information directly from Citi Retail Services about the new reduced rates.

Designed to meet the needs of all retailers regardless of size, Citi Retail Services’ private label credit program for NHFA members offers free equipment, no startup fees, instant credit and fast credit decisions, marketing support, and quarterly special promotions. The program has been offered exclusively to NHFA members since September 1998.

Citi Retail Services, a member of Citigroup, Inc., and its staff of client managers partner with retailers to help them become more competitive and profitable. From application to billing and collections, Citi Retail Services offers turnkey services that help retailers manage their private label credit card programs. Its clients include national and regional dealers in furniture, mattresses and bedding, carpets and flooring, heating and air conditioning, appliances and consumer electronics.

For complete information about this program, please contact Scott Friss, Citi Retail Services’ new client manager for the NHFA program at (440) 937-0606 or contact Jerry Alderman, NHFA Senior Director of Membership and Member Services at (336) 801-6154.