SAN FRANCISCO -- Unocal Corp. said it signed an agreement with First Data Resources to provide data processing for Unocal's credit card program.

The conversion will move all credit card operations to First Data's processing center in Tulsa, Okla., during the second quarter of 1994.

Unocal said it made the move to an outside source for credit card processing as part of an effort to increase cash flow. The company expects the move to reduce the cost of credit operations "substantially."

The company said the change will result in the closing of its credit card center here, with the loss of about 200 jobs. Some of the affected employees may be offered work in other Unocal operations or in Tulsa with First Data.

Recently, Los Angeles-based Unocal announced that it would convert 1.5 million of its 3.7 million private-label cards to bank cards, to be issued by Associates National Bank, Wilmington, Del. The nation's ninth-largest petroleum retailer will continue the private-label program.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.