Sears Holdings (SHLD) said customers shopping at Kmart stores will be able to apply for the Sears Card.

"The Sears Card is a tremendously powerful brand which has been part of millions of our customers' lives for more than 50 years," said CEO Aylwin B. Lewis. "We believe expanding the reach of the Sears Card and making it available through Kmart stores will provide our customers with greater shopping flexibility and choices. Kmart customers can also look forward to the same world-class service Citibank provides to our existing Sears' proprietary and Gold MasterCard cardmembers."

"The Sears card program is the largest and most well-known retail card program in the U.S.," said Vik Atal, CEO of Citi Cards. "As the country's largest card issuer to the retail sector, Citi is proud to help Sears Holdings extend this successful program to the Kmart franchise. Both Citi and Sears Holdings are focused on deepening customer relationships by offering products and services that meet our clients' needs and exceed their expectations."

Sears Holdings announced in May that it had amended its agreement with Citibank and would be terminating Kmart's relationship with Household Bank, which previously provided a private label credit card program for Kmart.

On Thursday, Citi fell 11 cents to $45.54 and Sears dropped $1.15 to $120.62.

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