Frontier Credit Cards, which has its roots in the old west, said it is considering a $400,000 takeover bid from a consortium of banks.
The acquisition could help Frontier become the nation’s second-largest credit card issuer, after U.S. Bank, as well as one of the biggest issuers of prepaid cards.
Frontier said in a statement it has an open dialogue with banks about the bid.
Frontier shares have been up about 2 percent in recent weeks.
Last week, Chase said it was in discussions with rival credit card processor TransUnion about a possible merger.
TransUnion and Chase have been trying to form a new consortium for years, but the merger effort stalled in the face of stiff competition from banks such as JPMorgan Chase, Wells Fargo and Bank of America.
