American Express Joins LendingTree Credit Card Marketplace
CHARLOTTE, N.C. (December 9, 2015) – LendingTree®, the nation’s leading online loan marketplace, continues to scale its credit card vertical with the addition of American Express. LendingTree’s credit card marketplace now encompasses all five major credit card companies and the leading cards in each category.
Additionally, the company expects revenue from its credit card business to more than double quarter over quarter in Q4 from its previously reported third quarter revenue of $2.7 million. LendingTree CFO Gabe Dalporto stated, “The growth we’re experiencing in credit cards further illustrates how the LendingTree brand can successfully expand in to new financial product categories.”
“In addition to adding new lenders and card offerings, our recent technology enhancements have improved our product significantly,” said Doug Lebda, founder and CEO of LendingTree. “As we continue to leverage the LendingTree brand in our marketing, we expect credit cards to be a significant contributor to our ongoing growth. Having a comprehensive credit card selection not only improves our monetization, but more importantly, enhances the experience for the growing MyLendingTree user base. We expect solid growth in both Mortgage and Non-Mortgage businesses as we continue to identify new opportunities to leverage the LendingTree brand in other financial service categories.”
LendingTree provides information and card offers for the top personal, student and business credit cards from the major card issuers. For more information, please visit www.lendingtree.com/credit-cards.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
The matters contained in the discussion above may be considered to be "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, as amended. Those statements include statements regarding the intent, belief or current expectations or anticipations of the Company and members of its management team. Factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the following: adverse conditions in the United States or global capital markets; adverse conditions in the primary and secondary mortgage markets and in the economy, particularly interest rates; willingness of lenders to make unsecured personal loans and purchase leads for such products from the Company; seasonality of results; potential liabilities to secondary market purchasers; changes in the Company's relationships with network lenders; breaches of network security or the misappropriation or misuse of personal consumer information; failure to provide competitive service; failure to maintain brand recognition; ability to attract and retain customers in a cost-effective manner; ability to develop new products and services and enhance existing ones; competition; allegations of failure to comply with existing or changing laws, rules or regulations, or to obtain and maintain required licenses; failure of network lenders or other affiliated parties to comply with regulatory requirements; failure to maintain the integrity of systems and infrastructure; liabilities as a result of privacy regulations; failure to adequately protect intellectual property rights or allegations of infringement of intellectual property rights; and changes in management. These and additional factors to be considered are set forth under "Risk Factors" in the Company's Annual Report on Form 10-K for the period ended December 31, 2014, Quarterly Reports on Form 10-Q for the periods ended June 30, 2015 and September 30, 2015, the prospectus supplement related to the offering and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results or expectations.
LendingTree (NASDAQ: TREE) is the nation's leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 55 million loan requests. LendingTree provides free monthly credit scores through My LendingTree and access to its network of over 350 lenders offering home loans, personal loans, credit cards, student loans, personal loans, business loans, home equity loans/lines of credit, auto loans and more. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.