Beneficial National Bank USA has agreed to issue private-label cards for Venture Stores Inc., a discount chain based in O'Fallon, Mo.
Approved customers will get a 10% discount on the first purchase made with the Venture credit card. Cardholders also can earn 2% rebates on eligible purchases in the form of Venture Rewards Dollars.
Venture Stores credit cards carry a prime-plus-13.65% rate. The chain offers name-brand and private-label apparel, plus home and leisure merchandise, through 111 stores in nine states.
Beneficial National Bank USA, a subsidiary of Beneficial Corp., has more than $3 billion in receivables and five million cardholders.