NextCard and CompuCredit Form Strategic Marketing Alliance

NextCard, Inc. (NASDAQ:NXCD, the leading issuer of credit cards on the Internet, and credit card marketer CompuCredit Corporation (Nasdaq:CCRT - news), announced today that they have entered into a strategic marketing alliance. The alliance combines NextCard's industry-leading marketing and technology capabilities with CompuCredit's proprietary analytical and computer modeling expertise in underserved markets to offer general-purpose Visa credit cards to consumers overlooked by traditional credit card providers.

The arrangement provides consumers who apply for a credit card at www.nextcard.com but are not eligible for a NextCard offer the potential to receive a firm offer for a co-branded credit card marketed by CompuCredit Corporation. The two companies have combined marketing, technology and analytic expertise to provide access to offers of credit to an underserved population in real time via the Internet. CompuCredit will manage the customer relationship and NextCard will receive a per-customer payment for each co-branded account.

``This alliance with CompuCredit allows NextCard to provide a product to applicants who are outside of our target credit population,'' said John Hashman, chief executive officer at NextCard. ``This agreement leverages our marketing expertise, technology and provides an opportunity to monetize our industry leading site traffic and applicant volume. CompuCredit provides the right blend of customer focus and expertise in underserved markets that will enable us to build a successful program.''

``We are extremely pleased that CompuCredit and NextCard have completed an agreement that combines CompuCredit's product and customer expertise with NextCard's online marketing leadership,'' said Richard House, President of CompuCredit.

About NextCard
NextCard, Inc. (www.nextcard.com) is considered the leading issuer of credit cards on the Internet. Launched in 1997, the Company was the first to offer instant online credit card approval, a choice of customized credit card offers, and exceptional online customer service. NextCard is committed to providing the most robust consumer shopping experience on the Internet and has continued to innovate with its NextCard Concierge(SM) online shopping service, online bill payment services, and comprehensive rewards program.

NextCard is also one of the leading direct marketers on the Internet, operates a network of more than 90,000 online affiliates, and has exclusive card relationships with leading online brands, including Amazon.com and MyPoints.com.

NextCard has been named the No. 1 Internet credit card by Gomez. According to the 2001 Brittain Associates ``Credit Cards on the Net'' study, NextCard leads the online credit card market with a 26 percent share. NextCard, Inc. issues credit cards through NextBank N.A., a wholly owned subsidiary.

About CompuCredit
CompuCredit Corporation is a credit card company that uses analytical techniques, including sophisticated computer models, to identify consumers who it believes are credit-worthy and are overlooked by more traditional consumer credit providers. CompuCredit markets unsecured general-purpose credit cards through direct mail, telemarketing and the Internet. In July 1999, CompuCredit launched its consumer web site, www.aspirecard.com, through its Internet marketing services subsidiary AspireCard.com, Inc. Consumers can apply online and receive a credit decision within seconds. CompuCredit also markets credit life insurance, card registration, buying club memberships and travel services to its cardholders. Credit cards marketed by CompuCredit are issued by Columbus Bank and Trust Company under an agreement with CompuCredit. CompuCredit completed its initial public offering in April of 1999 and was included in the Russell 2000® Index in July 1999 and the NASDAQ FIN-100 Index in May 2000.

THE SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. The statements in this press release regarding the companies' expectations for their marketing alliance, including those relating to NextCard's monetizing its site traffic and CompuCredit's acquiring new customers, are forward looking statements. Actual results may differ materially from those suggested by these forward looking statements for a variety of reasons, including the level of site traffic experienced by NextCard, applicant willingness for CompuCredit to consider applications not accepted by NextCard, applicant satisfaction of CompuCredit's credit criteria, and the other factors included in the companies' form 10-K's for their 2000 fiscal years and other SEC filings. Trademarks are the property of their respective owners.