Credicard Financial Corp., which runs private-label card programs for small and midsize retailers in Texas and the Southeast, has obtained a national bank charter from the Office of the Comptroller of the Currency.

Credicard National Bank would take over the revolving credit function from the retail clients and will increase their liquidity, said Credicard chief executive officer Stewart Armstrong.

The bank plans to fund its operations by selling certificates of deposit to institutional investors.

"Chartering the bank and offering CDs will provide us with the resources to serve more retailers without relying on third-party lenders for financing," Mr. Armstrong said.

"This will provide a stable source of financing at affordable rates, which helps us keep costs low for our retail customers."

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