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Wfnnb (World Financial Network National Bank is an affiliate member of Alliance Data System (trades on the New York Stock Exchange under ticker ADS). Wfnnb was set up in the year 1989 in Gahanna, Ohio. This is the first commercial credit card bank to be launched by Alliance. Alliance Data System is active in the following three areas. The credit services division is usually taken care of by wfnnb.

• Marketing services
• Transaction services
• Credit services
  

Wfnnb is actively involved in the underwriting business (along with World Financial Capital Bank) and some of the companies for, which it underwrites, include the following:

• Clark Gas Station
• Dress Barn
• Redcats
• Limited Brands
  

World financial Network National Bank also underwrites for various other companies. As of 2007, the company handled as many as 120 million card holder accounts. Wfnnb underwrites accounts and provides credit for consumer purchase of as many as 85 credit clients (private label). In the year 2007, wfnnb registered receivables amounting to USD$3.9 billion.

Credit report with wfnnb:
A credit report may have the title wfnnb. This implies that the person who has received the credit report with the wfnnb must be having some unpaid amount and is being asked to clear the same.
Under these circumstances, a consumer has the following options.

• Debt validation:
  He may dispute the claim and opt for debt validation. The Fair Debt Collection Practices Act gives the right to a borrower to dispute any irregularities in the credit report. This is a necessity because there are several reports, which show that people have been tricked into paying money, which they did not owe at all. Manipulating credit reports, increasing the monthly payment amount and identity theft are not uncommon these days.
• Paying up the outstanding amount:
  He may make payments of the unpaid amount, if he feels that the outstanding amount asked for has been correctly calculated and is valid.
  

A chance to regain lost customer confidence:
If wfnnb operates in a proper manner, it may as well tap the credit card market in the near future. The reason being, experts have suggested that during the period 2007 to 2012, output of the various finance companies as well as the credit card firms in the United States of America is expected to grow at yearly 5.7% (compounded rate). Wfnnb stands a good chance to repair the customer confidence it has lost over the last couple of months.
Some more information about Wfnnb:
The company has worked out a probable list of companies from whom it faces stiff competition. They are as follows:

• Citigroup
• Barclays Bank Delaware
• GE Money
• In the year 2003, World Financial Network National Bank was awarded the “Creditor of the Year” award. This was conferred up on them by the AICCCA or the Association of Independent Consumer Credit Counseling Agencies.
• There were as many as 200 employees on the rolls of the company in the year 2007.
• It registered a sale worth USD$19.5 million in the year 2007.

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