Vervent expands credit card business with acquisition of First Equity Card
By Edlyn Cardoza
Vervent recently announced the acquisition of First Equity Card Corporation, taking another step in continuing to expand its highly successful credit card business. First Equity Card is one of the nation’s leading providers of bankcard solutions for building or rebuilding credit. First Equity’s card programs serve hundreds of thousands of account holders across the U.S. Their addition to Vervent’s strong, tech-forward, and effective business model will continue to position the company for future success and bolster its accelerated growth trajectory.
“This acquisition is exciting in that it continues to expand Vervent’s position in the credit card space and add a fully-featured secured credit card product to our offerings,” said David Johnson, CEO and Founder. “We are expanding the product support we offer underserved customers and giving them new opportunities to build financial stability.”
First Equity’s addition to Vervent brings their flagship First Progress Secured Platinum Mastercard® card program, the First Access VISA and First Digital Mastercard unsecured card programs into the Vervent fold. This is in addition to the new Revvi Card that launched last year and is seeing unprecedented growth and the Total Visa and Total Select card programs that were also newly invigorated with Vervent’s acquisition of Total Card in late 2020.
“Joining Vervent is a great opportunity for the First Equity team,” said Tim Clarke, President and CEO of First Equity Card and now President of Vervent Card. “It enables us to grow our footprint in the credit card industry and continue serving our clients with expert origination, underwriting, marketing and servicing while helping drive Vervent’s business forward.”
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