A suggestion I frequently make to business owners who do not have an extensive history of paying back debt is to open a small business credit card.

(Reuters) -Consumer lender Ally Financial has agreed to sell its credit card business to credit and payments firm CardWorks, the companies said on Wednesday. Shares of Ally jumped 8.6% in premarket trading.

Key Takeaways Ally Financial posted fourth-quarter earnings and revenue that topped estimates as it reduced expenses.CEO Michael Rhodes said Ally "took significant action" in the quarter to improve its finances.

NerdWallet rates more than 40 business credit cards, evaluating them on more than a dozen factors. See more on how we rate business credit cards.

As the global economy becomes increasingly digital, businesses of all sizes face a growing threat: financial fraud. Accountants, the guardians of

Auto lender Ally Financial said Wednesday that it's officially ending its foray into credit cards under a broader restructuring, even as credit issues in its flagship auto loan business showed signs of waning. Your complimentary guest account includes access to a limited number of articles.

Plans for the sale were hinted at earlier this year, a month after the CEO said the business wasn’t within Ally’s core focus.

Ally Financial Inc. (NYSE: ALLY) has entered into an agreement to sell its credit card division to CardWorks Inc., along with its subsidiary, Merrick Bank.

This move aligns with Ally's mission to focus on its core services, including approximately 10 million customers in banking, brokerage, and auto financing. CardWorks, with its 38-year history in credit and payments,

Ally Financial Inc. (NYSE:?ALLY) and CardWorks, Inc. today announced that they have entered into a definitive agreement for CardWorks, and its wholly-owned bank subsidiary, Merrick Bank, to acquire Ally's credit card business,