STAMFORD, Conn.--(BUSINESS WIRE)--Aug. 23, 2005--GE Consumer Finance, one of the world's leading consumer lenders, and QVC, the leading electronic retailer, today announced that they have entered into a multi-year agreement to offer the private label QCard(R) to QVC customers in the U.S.
We're proud to be partnering with a retailer that is as successful as QVC, said Margaret Keane, president and chief executive officer of GE Consumer Finance's Retail Consumer Finance unit. QVC has a strong brand and customer base.
The QCard is a great financing option for their customers. QVC is a leading television and Internet retailer that markets a wide variety of brand name products to approximately 87 million American homes.
We are pleased to announce this agreement with GE Consumer Finance, said Mark Tabak, vice president administration for QVC.
Our strategic alliance allows us to provide additional QCard features that will enhance our customers' shopping experience. Customers interested in the QCard will be able to apply over the phone, by mail or at QVC.com. Card features include no annual fee, competitive rates, periodic credit promotions, low monthly payments, detailed statements that summarize all QVC purchases, and online account access and bill payment.
About QVC
QVC, Inc., a $6 billion company, is an e-commerce leader, marketing a wide variety of brand name products in such categories as home furnishings, licensed products, fashion, beauty, electronics and fine jewelry.
QVC reaches over 87 million homes in the United States. Other divisions/subsidiaries include QVC.com, Q Direct, Q Records and Video, QVC @, QVC Local, QVC ProductWorks. The QVC Studio Tour is located at the company's world headquarters in West Chester, PA.
QVC is a subsidiary of Liberty Media Corporation. About GE Consumer Finance GE Consumer Finance, a unit of General Electric Company
(NYSE: GE) with $150 billion in assets, is a leading provider of credit services to consumers, retailers and auto dealers in 47 countries around the world.
GE Consumer Finance, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at www.geconsumerfinance.com.
GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems.
With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Contacts
GE Consumer Finance
Mike Ettlemyer, 203-585-6791
QVC
Bonnie Clark, 484-701-1647