Citigroup Inc. renewed a multiyear deal to continue issuing private-label credit cards for Sunoco Inc. customers, the companies said Thursday.
The bank has issued cards for the gasoline company since 2004. Under the new agreement, Citigroup's retail partner card unit will also expand its suite of Sunoco card products, including a rewards card that gives customers discounts on gas purchases. The financial terms of the deal were not disclosed.
Citigroup said last month it was recommitting to its store-card business, after years of trying to unload the unit. The bank put its private-label credit card unit up for sale in early 2009 but could not find a buyer willing to pay the price it wanted. Several weeks ago, Citi said it had renewed a private-label card deal with Sears Holdings Corp.