CreditShop Announces the Successful Conversion of More Than 500,000 Mastercard Credit Card Accounts

WILMINGTON, Del., Sept. 26, 2018 /PRNewswire/ -- CreditShop LLC today announced the successful conversion of more than half a million Mastercard credit card accounts and $1.4 billion in receivables. The portfolio, which was acquired in March 2017, was converted to the new Mercury Mastercard® which launched in May.  The Mercury Mastercard is marketed by CreditShop, and issued by First Bank & Trust of Brookings, South Dakota. 

"We are thrilled to welcome more than half a million new cardmembers to the Mercury family, and we look forward to providing them with consumer-friendly financial products and great customer service. Converting a large credit card portfolio is a major undertaking; and we have worked hard to ensure that our cardmembers experience a seamless transition," said CreditShop CEO Dan Duncan.

CreditShop believes that there are few reasonably priced credit cards available to credit-challenged consumers. There are about 75 million Americans in the "middle market" with FICO scores ranging between 575 and 675, and many are charged high fees by sub-prime credit card issuers.  The Mercury Mastercard is designed to give hard-working, middle market consumers access to a better credit card, at a reasonable price, so they can manage their financial lives better.  Card benefits usually include:

• No annual fee*
• FICO score for free
• $0 fraud liability
• Accepted at more than 40 million places worldwide

For more information, please visit:  Mercury Mastercard® and First Bank & Trust.

* Less than 10% of the converted accounts will continue to be charged an annual fee, for details please refer to the cardmember agreement.

About CreditShop
CreditShop LLC is a consumer finance company that develops and markets credit cards and personal loans designed for near-prime and sub-prime consumers.  The company has offices in Austin, Texas and Wilmington, Delaware. 

About First Bank & Trust
Headquartered in Brookings, South Dakota, First Bank & Trust has a history that dates back more than 130 years. First Bank & Trust is part of Fishback Financial Corporation, one of South Dakota's largest privately-held bank holding companies with 23 locations in 18 communities throughout South Dakota and Minnesota.

The Mercury Mastercard is issued by First Bank & Trust, Brookings, SD pursuant to a license by Mastercard International.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

SOURCE CreditShop