Citigroup and Wayfair Are Partnering on 2 New Credit Cards

A day after announcing the upcoming retirement of its CEO and that it would appoint the first female CEO of a megabank, Citigroup (NYSE: C) scored a major victory for its credit card business, according to a CNBC report.

Wayfair (NYSE: W) had been seeking a credit card co-branding partner, and Citigroup has won the rights to offer two new credit card products that bear the rapidly growing furniture retailer's name. Citi reportedly beat Alliance Data Systems (NYSE: ADS) for the partnership.

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Source Fool.com