Wells Fargo, Dillard's announce new credit card agreement Wells Fargo (WFC) and Dillardís (DDS) announced that the two companies have entered into an agreement for Wells Fargo to fund, issue and service Dillardís-branded private label and co-brand credit cards. Wells Fargo will also manage the cardholder loyalty program for Dillardís. The program agreement has a 10-year term and is anticipated to become operational in 4Q14, following the scheduled expiration of Dillardís current program agreement. Financial terms of the agreement were not disclosed. Dillardís management believes its earnings from the new program exclusive of startup costs will be comparable to its historical earnings from the Dillardís branded credit card products and believes that earnings will increase with future program growth.
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