Petro-Canada said it sold its proprietary credit card portfolio to GE Capital Canada for $110 million.

GE Capital Canada will now provide Petro-Canada with card issuing, processing, billing, collection, and customer service functions. Petro- Canada will retain its commercial credit card and responsibility for card marketing.

The card will remain a Petro-Canada card, and cardholders will continue to accumulate Petro-Points to redeem for merchandise for their cars.

The conversion is expected to take six months.

GE Capital Canada is a unit of GE Capital Services, a wholly owned subsidiary of General Electric Co.

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