Synchrony Lost Walmart Card Deal In Battle With Capital One

Bloomberg

Synchrony Financial said its credit-card deal with Walmart Inc. won’t be renewed and will expire next year. The largest issuer of store cards said Thursday that it’s evaluating whether to sell the $10 billion in balances or retain the portfolio and convert qualifying customers to general purpose credit cards. Capital One Financial Corp.will take over as issuer of the Walmart’s private-label and co-branded credit cards beginning Aug. 1, 2019.”