CAPITAL Corporate News

CAPITAL Reaches a Major Milestone
July 31, 2007

SIOUX FALLS, SD, July 31, 2007 - CAPITAL Card Services, Inc. (CAPITAL), a leader in portfolio management and card outsourcing solutions, today announced that it has achieved a major milestone by surpassing the half-million mark in total active credit card accounts serviced. 

Established in 1998, CAPITAL entered the card-service industry with one client and less than 20,000 accounts.  Since that time, it has assisted numerous clients in acquiring new card accounts and helped profitably grow its clients’ portfolios exponentially over the years, to the point where it now services over 500,000 accounts, nationwide.  As of the end of 2nd quarter 2007, CAPITAL manages over $145 million in outstanding card receivables for its clients.

“Since our inception we have filled a niche in the card-servicing market.  We help institutions create credit card assets and manage those assets towards profitability,” said Jeffrey J. Aegerter, President and CEO for CAPITAL. “Our achieving this milestone provides tangle proof that we are successfully executing our business plan to the benefit of our clients.”
 
CAPITAL provides clients with selection and account origination services and works collaboratively to originate credit card assets through the use of its proprietary marketing and credit underwriting tools.  Once the card accounts are established, CAPITAL provides customer contact services such as customer service, collections and fraud control in support of its clients card programs.  As the portfolio matures, clients use CAPITAL’s financial tools, such as ViPR^SM, to provide clarity on profitably trends and targets.
                                        
“Our successes as a service-organization is in direct correlation to our client’s ability to profitably grow their portfolios,” said Charles J. Hendrickson, Executive Vice President and CFO.  “Our focus is to ensure that our clients achieve their strategic growth objectives and that we properly manage their card portfolios to maximize their earnings and strengthen our clients’ capital base. 

In recognition of this milestone, the employee entrances are being remodeled in both the Sioux Falls and Brookings facilities.  Couches and chairs will be added along with fixtures to give this area a relaxing and inviting feel.  The new entrance will serve as a gathering place for employees during breaks and around work times.  “We wanted to create a space where employees could relax.  It feels like a big family room.  We did this as a way of saying thank you to all the employees for their hard work,” said Robin Wiebenga, Vice President of Customer Care.  

About CAPITAL Card Services, Inc.
CAPITAL is a leading servicer of MasterCard and Visa accounts for financial and non-financial institutions, nationwide.   CAPITAL provides turnkey account acquisition services, underwriting strategies, marketing, customer service, collections, and portfolio management services for its clients. For more information about CAPITAL, go to www.capitalcardservices.com.