Retailer Charming Shoppes Inc. has signed an agreement to purchase credit services from Fair, Isaac and Company Inc. The retailer will apply credit risk management and strategy development to its Fashion Bug credit card portfolio. Terms of the contact were not disclosed.
Fashion Bug currently consists of approximately 13 million credit card accounts. Charming Shoppes operates retail stores under the Lane Bryant, Fashion Bug, Fashion Bug Plus, Catherine’s Plus Sizes, The Answer, Added Dimensions, Monsoon and Accessorize names, and is the 16th largest retail credit underwriter, according to the company.
The agreement expands the relationship between Charming Shoppes and Fair, Isaac, San Rafael, CA. Fashion Bug previously used Fair Isaac’s Triad control system to manage one of its smaller portfolios. The new contract calls for Charming Shoppes to use Fair, Isaac’s MarketSmart Decision System and ScoreNet services.
By expanding the relationship with Fair, Isaac, Charming Shoppes in Bensalem, PA, believes that it will “gain a deeper understanding of our portfolio performance and develop more effective risk management and credit marketing strategies for that portfolio,” Kirk Simme, vice president of credit at Charming Shoppes, said in a statement.
Network
