Document:

Exhibit 10.52

                           REVOLVING CREDIT AGREEMENT

                                     BETWEEN

                             THE CREDIT STORE, INC.
                                       AND

                              PLAINS COMMERCE BANK

                                 March 15, 2002

                                                                          4/9/02

<PAGE>

                           REVOLVING CREDIT AGREEMENT

                           Dated as of March 15, 2002

         The Credit Store, Inc., a Delaware corporation (the "Borrower") located
at 3401 North Louise Avenue, Sioux Falls, South Dakota 57107, and Plains
Commerce Bank, a South Dakota state bank (the "Bank") located at 202 Main
Street, Hoven, South Dakota 57450, agree as follows:

                                    ARTICLE I
                                   DEFINITIONS

         Section 1.1. Definitions. As used in this Agreement the following terms
shall have the following meanings (and such meanings shall be equally applicable
to singular and plural forms of the terms defined):

         "Advances" shall mean loans made by the Bank to the Borrower pursuant
to Section 2.3 of this Agreement.

         "Borrowing Base" shall mean an amount equal to 60% of the Borrowing
Base Receivables which are subject to a first priority security interest in
favor of the Bank.

         "Borrowing Base Receivables" shall mean all amounts which are (a) owed
by Cardholders under the Credit Card Accounts from time to time including,
without limitation, any amounts owing for the payment of goods and services and
for cash advances, annual membership fees, over limit fees, late payment fees,
periodic finance charges, and any other fee, expense or charge of every nature,
kind and description, and (b) included in the closing balance on the FDR CD 621
report (or any successor report including substantially similar information)
provided to Borrower by First Data Resources on a daily basis.

                                       1
<PAGE>

         "Business Day" shall mean any day other than a Saturday, Sunday or a
public holiday or the equivalent under the laws of the State of South Dakota.

         "Cardholder" means any person obligated on a Credit Card Account.

         "Collateral Receivables" shall mean all amounts which are owed by
Cardholders under the Credit Card Accounts from time to time including, without
limitation, any amounts owing for the payment of goods and services and for cash
advances, annual membership fees, over limit fees, late payment fees, periodic
finance charges, and any other fee, expense or charge of every nature, kind and
description.

         "Credit Card Accounts" means all Visa USA, Inc. credit card accounts
which are owned by Bank and identified on the books and records of Borrower with
a permanent pool identification number of 2002200.

         "Daily Activity Report" shall mean a report of Borrower substantially
in the form of Exhibit A which shows on a daily basis, among other things, the
Borrowing Base Receivables, and the principal balance of the Note, and which is
delivered to the Bank pursuant to Section 5.1(a).

         "Discount Rate" shall mean the rate established by the Bank weekly as
its discount rate of interest for non-consumer loans. As of the date hereof, the
Discount Rate is 7 3/4 % per annum.

         "Intercreditor Agreements" shall mean the Intercreditor Agreements, in
form and substance acceptable to Bank, with each of Coast Business Credit, a
division of Southern Pacific Bank ("Coast"), J.L.B. of Nevada, Inc. ("J.L.B."),
and Thornton A.L. Advisors, Inc., and Recovery Partners II, LLC (collectively
"Thornton"). "Loan Documents" shall mean this Agreement, the Note, the Security
Agreement, and all other documents to be executed in connection with this
Agreement.

                                       2
<PAGE>

         "Lockbox Agreement" shall mean the Lockbox Agreement dated as of
December 1, 2001, as amended, among the Borrower, Wells Fargo Bank Minnesota,
National Association, First Premier Bank, Coast, The Varde Fund IV-A, L.P.
("Varde"), M M & S Investments Corporation ("MM&S"), and certain other parties.

         The "Lockbox Paying Agent Agreement" shall mean the Lockbox Paying
Agent Agreement dated as of December 1, 2001, as amended, among the Borrower,
Wells Fargo Bank Minnesota, National Association, Coast, Varde, MM&S, and
certain other parties.

         "Note" shall mean the note described in Section 2.2 and any and all
renewals, replacements, and amendments thereof.

         "Person" shall mean an individual, corporation, partnership, joint
venture, trust or unincorporated organization or government or other agency or
political subdivision thereof.

         "Requirements of Law" with respect to any Person shall mean any law,
ordinance, statute, treaty, rule, judgment, regulation or other determination or
finding of any arbitrator or governmental authority applicable to or binding
upon such Person or to which such Person is subject, whether federal, state,
county, local or otherwise (including without limitation usury laws, the Federal
Truth in Lending Act, the Fair Debt Collection Practices Act, the Federal Equal
Credit Opportunity Act, the Fair Credit Reporting Act, the Federal Deposit
Insurance Act, the National Bank Act, and Regulations B, E, and Z of the Board
of Governors of the Federal Reserve System), and all rules, regulations, and
operating policies of Visa USA, Inc. which in all cases if violated would
adversely affect the value or collectability of the Credit Card Accounts or
Collateral Receivables or could result in a claim being made by a Cardholder
with respect to the Credit Card Accounts.

                                       3
<PAGE>

         "Security Agreement" shall mean the security agreement described in
         Subsection 3.1(b). "Subsidiary" shall mean any corporation of which
         more than 50% of the outstanding capital stock

having ordinary voting power to elect a majority of the board of directors of
such corporation (irrespective of whether or not any other class or classes of
stock of such corporation shall or might have voting power upon the occurrence
of any contingency) is at the time directly or indirectly owned by the Borrower,
by the Borrower and one or more other Subsidiaries, or by one or more other
Subsidiaries.

         Section 1.2. Accounting and Other Terms. All accounting terms not
specifically defined in this Agreement shall be construed in accordance with
generally accepted accounting principles. Other terms defined herein shall have
the meanings ascribed to them herein.

                                   ARTICLE II

                                 REVOLVING LOAN
                                 --------------

         Section 2.1. Revolving Loan. The Bank agrees, in accordance with the
terms and conditions of this Agreement, to make advances (the "Advances") to the
Borrower from time to time from April 4, 2002, to and including the earlier of
April 4, 2003 (the "Termination Date") or the termination of this Agreement
pursuant to its terms, in an aggregate principal amount not to exceed $3,000,000
outstanding at any one time; provided, however, that the aggregate principal
amount of Advances outstanding shall not at any time exceed the lesser of (i)
the Borrowing Base or (ii) $3,000,000. Within the limits contained herein the
Borrower may borrow, prepay pursuant to Section 2.6 and reborrow under this
Section 2.1.

                                       4
<PAGE>

         Section 2.2. The Note. The Advances made by the Bank shall be evidenced
by a Note which is in substantially the form of Exhibit B attached hereto and is
delivered to the Bank pursuant to Article III. The Note shall have a maturity of
April 4, 2003, and shall provide for interest at the rate of 2% over the
Discount Rate. The Note shall be secured by a first priority security interest
in the Collateral Receivables in favor of Bank; provided, however, upon the
request of Borrower which shall be no more often than once each month the Bank
agrees to release the receivables related to specific Credit Card Accounts
requested by Borrower from its security interest on the conditions that (a) no
Event of Default has occurred and is continuing hereunder, and (b) such release
will not cause the principal amount outstanding under the Note, after taking
into consideration any prepayment made concurrently with such requested release,
to exceed the Borrowing Base as shown on the most recent Daily Activity Report.

         Section 2.3. Making of Advances. Borrower may request advances
("Advances") under this Agreement by giving notice to the Bank on the Daily
Activity Report no later than 2:00 p.m. Central Time on any Business Day. Any
request for an Advance shall be deemed to be a representation that the
Borrower's representations and warranties contained in Section 4.1 and the
information contained in its Daily Activity Reports are true and correct as of
the date of the Advance as though made on and as of such date and that no event
has occurred and is continuing, or will result from such Advance, which
constitutes an Event of Default or would constitute an Event of Default but for
the requirement that notice be given or time elapse or both. An Advance shall be
made by crediting immediately available funds in the amount of the Advance to
any of Borrower's deposit accounts maintained with the Bank as specified by the
Borrower from time to time.

                                       5
<PAGE>

         Section 2.4. Origination Fee. On the date hereof, the Borrower agrees
to pay to the Bank an origination fee (the "Origination Fee") in the amount of
$30,000 .

         Section 2.5. Interest and Payments.

                  (a) The Borrower shall repay, and shall pay interest on, the
         aggregate unpaid principal amount of all Advances in accordance with
         the terms contained in this Agreement and the Note. All payments of
         principal, interest and fees under this Agreement shall be made when
         due to the Bank in immediately available funds. All computations of
         interest shall be made by the Bank on the basis of the actual number of
         days elapsed in a year of 360 days. Whenever any such payment shall be
         due on a non-Business Day such payment shall be made on the next
         succeeding Business Day, and such extension of time shall be included
         in the computation of interest. The Bank is expressly authorized to
         charge any principal or interest payment, when due, to any account of
         Borrower maintained at the Bank. The Borrower shall pay all other fees
         and charges as provided in this Agreement and the other Loan Documents.

                  (b) On a daily basis, Borrower shall pay or cause to be paid
         and apply all payments and other amounts received on account of the
         Collateral Receivables, as follows:

                           (i) First, to fund new Collateral Receivables
                  resulting from purchases and cash advances on the Credit Card
                  Accounts, and such new Collateral Receivables shall be subject
                  to the Bank's security interest and shall secure all of the
                  Borrower's obligations to Bank under this Agreement and the
                  Note; provided, however, to the extent amounts received by
                  Borrower are insufficient to fund such new purchases, cash
                  advances, and other required payments by Borrower on the

                                       6
<PAGE>

                  Credit Card Accounts, Borrower covenants and agrees to fund
                  such amounts on a daily basis from other sources and Bank
                  shall have no liability or obligation to fund such amounts;
                  and

                           (ii) Second, all remaining amounts shall be wire
                  transferred to Bank in accordance with the terms of the
                  Lockbox Agreement and the Lockbox Paying Agent Agreement on
                  each Business Day for the purpose of paying principal and
                  other amounts owing under this Agreement and the Note. Such
                  payments shall be in addition to all payments required by the
                  Note.

Bank acknowledges that Borrower is a party to the Lockbox Agreement and the
Lockbox Paying Agent Agreement which provide, among other things, for a two-day
delay between the time of receipt of checks and other payments at the lockbox on
account of the Collateral Receivables and the release of such funds as provided
in the Lockbox Agreement and the Lockbox Paying Agent Agreement.

         Section 2.6. Voluntary Prepayment. The Borrower may, upon notice to the
Bank without penalty or premium, prepay the Note in whole or in part.

         Section 2.7. Mandatory Prepayment or Addition of Credit Card Accounts.
In the event that the aggregate outstanding principal amount of the Note shall
exceed the Borrowing Base as shown on the Daily Activity Report at any time, the
Borrower shall immediately (a) pay to the Bank the amount of such excess, or (b)
transfer additional credit card accounts into Borrower's pool #2002200 by
tagging such additional credit card accounts in Borrower's records with the
permanent identification number 2002200, so that the outstanding principal
amount of the Note no longer exceeds the Borrowing Base as shown on the most
recent Daily Activity Report.

                                       7
<PAGE>

                                   ARTICLE III

                              CONDITIONS OF LENDING

         Section 3.1. Conditions Precedent to Initial Advance. The Bank shall
have no obligation to make the initial Advance hereunder unless the Bank shall
have received on or before the date of such Advance the following documents:

                  (a) The Note properly executed and delivered on behalf of the
         Borrower.

                  (b) The Security Agreement properly executed and delivered on
         behalf of the Borrower, granting to the Bank a first priority security
         interest in all Collateral Receivables and other property described
         therein as security for the performance of the Borrower's obligations
         under this Agreement and the Note, together with any financing
         statement, lockbox agreement or control agreement, or other document
         deemed necessary or desirable by the Bank to perfect the security
         interest granted by the Security Agreement.

                  (c) The Intercreditor Agreements acceptable to Bank in form
         and substance.

                  (d) The Amendments to the Lockbox Agreement and the Lockbox
         Paying Agent Agreement and Supplements to the Lockbox Agreement and
         Lockbox Paying Agent Agreement, in all cases in form and substance
         acceptable to Bank.

                  (e) An opinion of counsel to the Borrower in favor of the Bank
         in a form and as to such matters as the Bank may request.

                  (f) A certificate by the secretary of the Borrower certifying
         resolutions of the board of directors of the Borrower, approving the
         execution and delivery of the Loan Documents and approving all other
         matters contemplated by this Agreement.

                                       8
<PAGE>

                  (g) A certificate by the secretary of the Borrower certifying
         the names of the officer or officers of the Borrower authorized to sign
         the Loan Documents, together with a sample of the true signature of
         such officer or officers.

                  (h) A certificate of good standing for the Borrower dated
         within 30 days of the date hereof, and articles of incorporation of the
         Borrower certified by the Delaware Secretary of State as of a date
         within 30 days of the date hereof.

                  (i) A certificate by the secretary of the Borrower certifying
         the Borrower's bylaws.

                  (j) A Daily Activity Report as of the date of closing.

                  (k) (A) An amendment to the Bankcard Marketing Agreement dated
         February 9, 1999, between the parties and an amendment to the Purchase
         Agreement dated February 9, 1999, between the parties, both in form and
         substance acceptable to the Bank, providing that an Event of Default
         occurring under this Agreement shall be an additional event of
         termination under the Bankcard Marketing Agreement and under the
         Purchase Agreement, and providing for the delivery by Borrower of
         certain agreements from purchasers and secured parties of Borrower, and
         (B) agreements from Coast, J.L.B., Thornton, Varde, and North Division
         Associates in form and in substance satisfactory to Bank and providing
         for the application of payments received on account of certain credit
         card accounts.

         Section 3.2. Conditions Precedent to Each Advance. Each Advance
(including the initial Advance) shall be subject to the further conditions
precedent, that on the date of such Advance:

                                       9
<PAGE>

                  (a) The representations and warranties contained in Section
         4.1 of this Agreement are correct on and as of the date of such Advance
         as though made on such date; and

                  (b) No event has occurred and is continuing, or will result
         from such Advance, which constitutes an Event of Default or would
         constitute an Event of Default but for the requirement that notice be
         given or time elapse or both.

                                   ARTICLE IV

                         REPRESENTATIONS AND WARRANTIES

         Section 4.1. Representations and Warranties of the Borrower. To induce
the Bank to make Advances, the Borrower represents and warrants as follows:

                  (a) Existence of Borrower. The Borrower is a corporation duly
         incorporated, validly existing and in good standing under the laws of
         the State of Delaware.

                  (b) Authority to Execute. The execution, delivery and
         performance by the Borrower of the Loan Documents are within the
         Borrower's corporate powers, have been duly authorized by all necessary
         corporate action, do not and will not conflict with any provision of
         law or of the charter or by-laws of the Borrower or of any agreement or
         contractual restriction binding upon or affecting the Borrower or any
         of its property, and need no further shareholder or creditor consent
         except the consent of Coast, J.L.B., and Thornton.

                  (c) Binding Obligation. This Agreement is, and the other Loan
         Documents when delivered hereunder will be, legal, valid and binding
         obligations of the Borrower enforceable against the Borrower in
         accordance with their respective terms.

                                       10
<PAGE>

                  (d) Governmental Approval. No consent of, or filing with, any
         governmental authority or court, including, without limitation, any
         bankruptcy court is required on the part of Borrower in connection with
         the execution, delivery or performance of any Loan Documents except for
         the filing by Bank of financing statements to perfect its security
         interest in the collateral.

                  (e) Financial Statements. The audited financial statements of
         the Borrower as of June 30, 2001, and the unaudited financial
         statements of the Borrower as of December 31, 2001, copies of which
         have been furnished to the Bank, have been prepared in conformity with
         generally accepted accounting principles consistently applied and
         present fairly the financial condition of the Borrower as of such
         dates, and the results of the operations of the Borrower for the
         financial periods then ended, except for any necessary year-end
         adjustments in the case of the unaudited statements, and since such
         dates, there has been no materially adverse change in such financial
         condition.

                  (f) Litigation. No material litigation or governmental
         proceeding is pending or threatened against the Borrower or Borrower's
         properties except for litigation described on Schedule 4.1(f). No
         bankruptcy proceeding is pending or threatened against the Borrower.

                  (g) Title to Assets. Borrower has good and marketable title to
         all assets reported on its most recent balance sheet, and none of such
         assets is subject to any mortgage, pledge, lien, security interest or
         encumbrance of any kind, except for current taxes not delinquent, and
         except as listed on Schedule 4.1(g) to this Agreement.

                  (h) Taxes. The Borrower has filed all federal and state income
         tax returns which are required to be filed, and has paid all taxes
         shown on such returns to be due and

                                       11
<PAGE>

         all other tax assessments received by it to the extent that such
         assessments have become due.

                  (i) ERISA. No Plan (as that term is defined in the Employees'
         Retirement Income Security Act of 1974 ("ERISA")) of Borrower which is
         subject to Part 3 of Subtitle B of Title 1 of ERISA had an accumulated
         funding deficiency (as such term is defined in ERISA) as of the last
         day of the most recent fiscal year of such Plan ended prior to the date
         hereof, or would have had such an accumulated funding deficiency on
         such date if such year were the first year of such Plan, and no
         material liability to the Pension Benefit Guaranty Corporation has
         been, or is expected by the Borrower to be, incurred with respect to
         any such Plan. No Reportable Event (as defined in ERISA) has occurred
         and is continuing in respect to any such Plan.

                  (j) Defaults. The Borrower is not in default in the payment of
         principal or interest on any indebtedness for borrowed money and is not
         in default under any instrument or agreement under or subject to which
         any indebtedness for borrowed money has been issued, and no event has
         occurred and is continuing which, with or without the lapse of time or
         the giving of notice, or both, constitutes or would constitute an event
         of default under any such instrument or agreement or an Event of
         Default hereunder.

                  (k) Subsidiaries. All of Borrower's Subsidiaries are listed on
         Schedule 4.1(k).

                  (l) Patents, Trademarks. The Borrower has good and marketable
         title to all patents, trademarks, processes, copyrights, franchises and
         licenses, title to which is necessary for the operation of Borrower's
         businesses.

                  (m) Compliance by Borrower with Requirements of Law. The
         Borrower has not, and to the knowledge of Borrower all prior owners of
         the Collateral Receivables and

                                       12
<PAGE>

         Credit Card Accounts have not, failed to comply with all material
         Requirements of Law. The Borrower has all governmental licenses,
         permits and other authorities necessary to conduct its business and to
         use its properties in the manner in which they are presently being
         used.

                  (n) Collateral Receivables. With respect to each Collateral
         Receivable: (a) such Collateral Receivable has arisen under a Credit
         Card Account; (b) said Collateral Receivable has been originated in
         compliance with all material Requirements of Law; (c) except as listed
         in Schedule 4.1(g), Borrower has good and marketable title thereto free
         and clear of any and all security interests and liens; (d) such
         Collateral Receivable is not subject to offset, recoupment, adjustment
         or any other claim or defense of a Cardholder other than as permitted
         by the federal Truth in Lending Act and applicable rules of Visa USA,
         Inc.; (e) with respect to the creation of such Collateral Receivables,
         any and all licenses, approvals, authorizations, registrations, and/or
         declarations with or of any governmental authority of the United States
         or any state required to be obtained, effected or given by the Borrower
         have been duly obtained, effected or given and all are in full force
         and effect after such date of creation; (f) each Collateral Receivable
         represents the legal, valid and binding payment obligation of the
         relevant Cardholder collectable from such Cardholder in the ordinary
         course and enforceable against such Cardholder in accordance with the
         terms of the applicable credit card agreement except as enforcement may
         be limited by equitable principles and bankruptcy and similar laws
         relating to creditors' rights generally; and (f) Borrower has no reason
         to believe that any Collateral Receivable is not collectable in the
         ordinary course.

                                       13
<PAGE>

                  (o) Servicing of Credit Card Accounts. All Credit Card
         Accounts have been properly accounted for and all payments or monies
         received by Borrower with respect to the payment of any Collateral
         Receivable have been properly applied. Each Credit Card Account has
         been properly maintained and serviced in all respects by Borrower in
         accordance with the applicable credit card agreements, all material
         Requirements of Law, all of Borrower's policies and procedures, and in
         a manner consistent with, and not in violation of, any standard and
         customary practices utilized by Borrower with respect to all other
         credit card accounts and receivables which Borrower services and which
         are not a part of the Credit Card Accounts.

                                    ARTICLE V

                            COVENANTS OF THE BORROWER

         Section 5.1. Affirmative Covenants. So long as the Note shall remain
unpaid or outstanding hereunder, the Borrower will, unless the Bank shall give
its prior written consent:

                  (a) Financial Reporting. Furnish to the Bank: (i) as soon as
         available and in any event within 45 days after the end of each quarter
         (except the final quarter) of each fiscal year of the Borrower, balance
         sheets of the Borrower as of the end of such quarter and statements of
         income and retained earnings of the Borrower for the period commencing
         at the end of the previous fiscal year and ending with the end of such
         quarter, certified by the chief financial officer of the Borrower and
         in a format reasonably acceptable to the Bank; (ii) as soon as
         available and in any event within 90 days after the end of each fiscal
         year of the Borrower, a copy of the audited financial statements for
         such year for the Borrower, certified in a manner acceptable to the
         Bank by independent public accountants acceptable to the Bank; (iii)
         promptly upon the sending or filing

                                       14
<PAGE>

         thereof copies of all public reports issued by the Borrower to its
         security holders generally, to the Securities and Exchange Commission
         or to any national securities exchange; (iv) on each Business Day, no
         later than 10:00 a.m. Central Time, a Daily Activity Report; and (v)
         such other information concerning the conditions or operations,
         financial or otherwise, of the Borrower as the Bank from time to time
         may reasonably request;

                  (b) Visitation Rights. At any reasonable time and from time to
         time, permit the Bank or any agents, representatives or participants
         thereof, to examine and make copies of and abstracts from the records
         and books of account of, and visit the properties of, the Borrower, and
         to discuss the affairs, finances and accounts of the Borrower with any
         of its officers or directors; and permit the Bank or any agents,
         representatives or participants thereof, to conduct an audit and
         inspection, at Borrower's expense, of all of the Borrower's assets
         securing this Agreement and the Note.

                  (c) Notification of Default. Notify the Bank as promptly as
         practicable (but in any event not later than 2 Business Days) after
         Borrower obtains knowledge of: (i) the occurrence of any event which
         constitutes an Event of Default or which would constitute an Event of
         Default with the passage of time or the giving of notice or both; or
         (ii) the commencement of any litigation or governmental proceedings of
         any type which could materially adversely affect the financial
         condition or business operations of the Borrower.

                  (d) Compliance Certificate. At the time any financial
         statement is required to be provided to Bank under this Agreement,
         provide to Bank a certificate substantially in the form of Exhibit C
         signed by the chief financial officer of the Borrower stating whether
         or not such officer has knowledge of the occurrence of any Event of
         Default or

                                       15
<PAGE>

         any event which would constitute an Event of Default with the passage
         of time or the giving of notice or both, or, if such officer has
         knowledge of such an event, stating in reasonable detail the
         circumstances surrounding such event and action proposed by the
         Borrower to cure such event.

                  (e) Keeping of Financial Records and Books of Account.
         Maintain proper financial records in accordance with generally accepted
         accounting principles consistently applied which fully and correctly
         reflect all financial transactions and all assets and liabilities of
         the Borrower.

                  (f) Maintenance of Insurance. Maintain such insurance with
         reputable insurance carriers as is normally carried by companies
         engaged in similar businesses and owning similar property.

                  (g) Maintenance of Properties. Maintain and preserve all of
         its properties, necessary or useful in the proper conduct of its
         business, in good working order and condition, ordinary wear and tear
         excepted.

                  (h) Payment of Taxes. Pay all tax assessments and governmental
         charges of any kind payable by it as such taxes, assessments and
         charges become due and before any penalty shall be imposed, except as
         Borrower shall contest in good faith and by appropriate proceedings
         providing such reserves as are required by generally accepted
         accounting principles.

                  (i) Compliance with ERISA. Cause each retirement plan of the
         Borrower that is subject to the provisions of ERISA to comply and be
         administered in accordance with those provisions of ERISA which are
         applicable to such plan.

                                       16
<PAGE>

                  (j) Preservation of Corporate Existence. Preserve and maintain
         its corporate existence, rights, franchises and privileges in the
         jurisdiction of its incorporation, and qualify and remain qualified, as
         a foreign corporation in each jurisdiction in which such qualification
         is necessary or desirable in view of its business and operations or the
         ownership of its properties.

                  (k) Compliance by Borrower with Laws. Comply with all material
         Requirements of Law; and continue to hold all governmental licenses,
         permits and other authorities necessary to conduct its business and to
         use its properties in the manner in which they will be used.

                  (l) Servicing. Continue to administer and service the Credit
         Card Accounts and Collateral Receivables in accordance with the
         Borrower's usual policies and procedures, and with the same exercise of
         care and diligence as it exercises and has exercised with all of its
         credit card portfolios.

         Section 5.2. Negative Covenants. So long as the Note shall remain
unpaid or outstanding hereunder, the Borrower will not, unless the Bank shall
give its prior written consent:

                  (a) Merger. Merge or consolidate with any other Person; sell,
         transfer, convey, lease or otherwise dispose of (whether in one
         transaction or in a series of transactions) all or a substantial
         portion of its assets (whether now owned or hereafter acquired) to any
         other Person except for sales and financings of accounts receivable
         (that are not Collateral Receivables) in the ordinary course of
         Borrower's business.

                                       17
<PAGE>

                  (b) Transactions with Affiliates. Engage after the date
         hereof, in any transaction (including without limitation loans or
         financial accommodations of any kind) with:

                           (i) any director, officer or employee of the
                  Borrower;

                           (ii) any person who, individually or with his
                  immediate family, beneficially owns or holds 5% or more of
                  voting interest of the Borrower; or

                           (iii) any company in which any Person described above
                  in Subsections 5.2(b)(i) and (ii) owns a 5% or greater equity
                  interest;

         provided, such transactions (including agreements regarding the
         employment of any director, officer, or employee) are permitted if they
         are on terms no less favorable to the Borrower than would be obtainable
         if no such relationship existed; further, provided, with the approval
         of the board of directors of Borrower, Borrower may enter into a
         consulting contract with Jay L. Botchman or related entity providing
         for payments in the amount of $25,000 or less per month in exchange for
         consulting services relating to financing, capital structure, expertise
         regarding asset class, and similar matters.

                                   ARTICLE VI

                                     DEFAULT
                                     -------

         Section 6.1. Event of Default. "Event of Default" in this Agreement
means any of the following events:

                  (a) Failure of the Borrower to pay all or any part of the
         principal of the Note when due;

                  (b) Failure of the Borrower to pay any interest or fee
         required to be paid hereunder or on the Note when due;

                                       18
<PAGE>

                  (c) Any representation or warranty made by, or on behalf of,
         Borrower in, or pursuant to, any Loan Document shall prove to have been
         incorrect in any material respect adverse to the Bank when made;

                  (d) Default in performance of any other covenant or agreement
         of Borrower in, or pursuant to, any Loan Document and continuance of
         such default or breach for a period of 15 days after written notice
         from Bank;

                  (e) Borrower shall generally not pay its debts as such debts
         become due, or shall admit in writing its inability to pay its debts
         generally, or shall make a general assignment for the benefit of
         creditors; or any proceeding shall be instituted by or against Borrower
         seeking to adjudicate it a bankrupt or insolvent, or seeking
         liquidation, winding up, reorganization, arrangement, adjustment,
         custodianship, protection, relief, or composition of it or its debts
         under any law relating to bankruptcy, insolvency or reorganization or
         relief of debtors, or seeking the entry of an order for relief, or the
         appointment of a receiver, custodian, trustee, or other similar
         official for it or for any substantial part of its property, and in the
         case of an involuntary proceeding 60 days shall have elapsed since the
         commencement of such proceeding; or Borrower shall take any corporate
         action to authorize any of the actions set forth above in this
         subsection (e);

                  (f) Borrower shall fail to pay any debt for borrowed money in
         an original principal amount exceeding $ 25,000 (other than the debt
         evidenced by the Note) of the Borrower, or any interest or premium
         thereon, when due (whether by scheduled maturity, required prepayment,
         acceleration, demand or otherwise) and such failure shall continue
         after the applicable grace period, if any, specified in the agreement
         or instrument relating to such

                                       19
<PAGE>

         debt; or any other default under any agreement or instrument relating
         to any such debt, or any other event, shall occur and shall continue
         after the applicable grace period, if any, specified in such agreement
         or instrument, if the effect of such default or event is to accelerate,
         or to permit the acceleration of, the maturity of such debt; or any
         such debt shall be declared to be due and payable, or required to be
         prepaid (other than by a regularly scheduled required prepayment) prior
         to the stated maturity thereof; provided, Borrower may contest in good
         faith amounts payable in the ordinary course of business to its
         vendors;

                  (g) The entry against Borrower of a final judgment, decree or
         order for the payment of money in excess of $25,000 and the continuance
         of such judgment, decree or order unsatisfied for a period of 30 days
         without a stay of execution;

                  (h) Any Reportable Event (as defined in ERISA) shall have
         occurred and continue for 30 days; or any Plan shall have been
         terminated by Borrower not in compliance with ERISA, or a trustee shall
         have been appointed by a court to administer any Plan, or the Pension
         Benefit Guaranty Corporation shall have instituted proceedings to
         terminate any Plan or to appoint a trustee to administer any Plan;

                  (i) A breach or default occurs under the Intercreditor
         Agreements, or a breach or default occurs under the Lockbox Agreement
         or the Lockbox Paying Agent Agreement described in Subsection 3.1(d)
         (which breach or default has an adverse effect on the Collateral
         Receivables), or a breach or default occurs under any of the agreements
         described in Subsection 3.1(k);

                  (j) An event of termination occurs under the Bankcard
         Marketing Agreement dated February 9, 1999, between Bank and Borrower,
         as amended, or under the Purchase Agreement dated February 9, 1999,
         between Bank and Borrower, as amended; or

                                       20
<PAGE>

                  (k) Any event or events occur which the Bank determines in
         good faith reasonably might impair the prospect of due and punctual
         payment of the Note, including without limitation any material
         deterioration in the condition, financial or otherwise, of the
         Borrower.

         Section 6.2. Rights and Remedies. If any Event of Default shall occur
and be continuing, the Bank may exercise any or all of the following rights and
remedies:

                  (a) Refuse to make any further Advances to the Borrower under
         the Note;

                  (b) Declare the Note, all interest thereon, and all other
         obligations under, or pursuant to, any Loan Document to be immediately
         due and payable, and upon such declaration the Note, interest and other
         obligations shall immediately be due and payable, without presentment,
         demand, protest or any notice of any kind, all of which are expressly
         waived;

                  (c) Exercise any right or remedy under any of the Loan
         Documents, or any other right or remedy of a secured party under the
         Uniform Commercial Code as in effect in South Dakota; and

                  (d) Exercise any other right or remedy available to the Bank
         at law or in equity.

         Section 6.3. Indemnification. Borrower agrees to indemnify, defend and
hold Bank harmless against any and all claims, damage, liability, loss, cost or
expense (including without limitation reasonable attorneys' fees and expenses)
incurred or suffered by Bank by reason of or resulting from or arising out of
(a) the operation of business conducted by Borrower prior to the date hereof
with respect to the Credit Card Accounts and the Collateral Receivables

                                       21
<PAGE>

including but not limited to failures to comply with all Requirements of Law,
and (b) the breach of any of the Borrower's representations, warranties, and
covenants contained herein.

                                   ARTICLE VII

                                  MISCELLANEOUS
                                  -------------

         Section 7.1. No Waiver; Cumulative Remedies. No failure or delay on the
part of the Bank in exercising any right or remedy under, or pursuant to, any
Loan Document shall operate as a waiver thereof, nor shall any single or partial
exercise of any such right, remedy or power preclude other or further exercise
thereof, or the exercise of any other right, remedy or power. The remedies in
the Loan Documents are cumulative and are not exclusive of any remedies provided
by law.

         Section 7.2. Amendments and Waivers. No amendment or waiver of any
provision of any Loan Document shall be effective unless such amendment or
waiver is in writing and is signed by the Bank, and such amendment or waiver
shall be effective only in the specific instance and for the specific purpose
for which it was given.

         Section 7.3. Notices. All notices and other communications provided for
hereunder shall be in writing (including communication by facsimile) and mailed,
telecopied or delivered, if to the Borrower, at its address stated in the
preamble hereof, Attention: Kevin T. Riordan, President, and if to the Bank, at
its address stated in the preamble hereof, Attention: Stephen A. Hageman,
President; or, as to each party, at such other address as shall be designated by
such party in a written notice to the other party. All such notices and
communications shall when mailed be effective when deposited in the mails, or
when telecopied when transmission is complete and the confirmation notice has
been printed, addressed as aforesaid, except that

                                       22
<PAGE>

notices to the Bank pursuant to the provisions of Article II shall not be
effective until received by the Bank.

         Section 7.4. Costs and Expenses. The Borrower agrees to pay on demand
all reasonable out-of-pocket costs and expenses of the Bank in connection with
the preparation of the Loan Documents, including reasonable attorneys fees and
legal expenses, as well as all reasonable out-of-pocket costs and expenses of
the Bank, including reasonable attorneys fees and expenses, in connection with
the administration and enforcement of the Loan Documents after an Event of
Default (whether suit is commenced or not).

         Section 7.5. Right of Set-off. The Bank is hereby authorized at any
time and from time to time, to the fullest extent permitted by law, to set off
and apply any and all deposits (general or special, time or demand, provisional
or final) at any time held and other indebtedness at any time owing by the Bank
to or for the credit or the account of the Borrower against any and all of the
obligations of the Borrower now or hereafter existing under any Loan Documents,
irrespective of whether or not the Bank shall have made any demand under any
Loan Documents. The rights of the Bank under this Section are in addition to
other rights and remedies (including, without limitation, other rights of
set-off) which the Bank may have.

         Section 7.6. Governing Law. All Loan Documents shall be governed by the
laws of the State of South Dakota. Any term used in this Agreement and not
otherwise defined herein shall have the definition, if any, given that term in
the Uniform Commercial Code as in effect in the State of South Dakota from time
to time. If any term in this Agreement shall be held to be illegal or
unenforceable, the remaining portions of this Agreement shall not be affected,
and this Agreement shall be construed and enforced as if this Agreement did not
contain the term held to be illegal or unenforceable.

                                       23
<PAGE>

         Section 7.7. Venue of Action. THE BORROWER HEREBY CONSENTS TO THE
EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT SITUATED IN, OR WHOSE
DISTRICT ENCOMPASSES, POTTER COUNTY, SOUTH DAKOTA, AND WAIVES ANY OBJECTIONS
BASED ON FORUM NON CONVENIENS, WITH REGARD TO ANY ACTIONS, CLAIMS, DISPUTES OR
PROCEEDINGS RELATING TO THIS AGREEMENT, THE NOTE, THE SECURITY AGREEMENT, ANY
RELATED DOCUMENT, OR ANY TRANSACTIONS ARISING THEREFROM, OR ENFORCEMENT AND/OR
INTERPRETATION OF ANY OF THE FOREGOING. Nothing herein shall affect the Lender's
right to bring proceedings against the Borrower in the competent courts of any
other jurisdiction or jurisdictions.

         Section 7.8. Waiver of Jury Trial. THE BORROWER AND THE LENDER HEREBY
JOINTLY AND SEVERALLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR
PROCEEDING RELATING TO THIS AGREEMENT, THE NOTE, THE SECURITY AGREEMENT, AND ALL
DOCUMENTS RELATING TO THIS AGREEMENT, OR ANY TRANSACTION ARISING HEREFROM OR
CONNECTED HERETO. THE BORROWER AND THE LENDER EACH REPRESENTS TO THE OTHER THAT
THIS WAIVER IS KNOWINGLY, WILLINGLY AND VOLUNTARILY GIVEN.

         Section 7.9. Binding Effect; Assignment. All Loan Documents shall be
binding upon and inure to the benefit of the Borrower and the Bank and their
respective successors and assigns. The Borrower shall not have the right to
assign its obligations or interest under the Loan Documents without the prior
written consent of the Bank.

                                       24
<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed by their duly authorized officers as of the date first above written.

                                             THE CREDIT STORE, INC.

                                             By:   /s/ Michael J. Philippe
                                                   -----------------------
                                             Title: Chief Financial Officer

                                             PLAINS COMMERCE BANK

                                             By  /s/ Stephen A. Hageman
                                                 ----------------------
                                                  Stephen A. Hageman, President

                                       25
<PAGE>

Exhibits
--------

A - Daily Activity Report
B - Note
C - Compliance Certificate

Schedules
---------

4.1(f)        Litigation
4.1(g)        Encumbrances
4.1(k)        Subsidiaries

                                      A-1
<PAGE>

                                    EXHIBIT A

                              DAILY ACTIVITY REPORT
<TABLE>
<CAPTION>
PLAINS COMMERCE BANK COMMERCIAL LOAN
DAILY ACTIVITY REPORT

FEB-02

                                                                            DAILY ACTIVITY                MONTHLY ACTIVITY

<S>                                                              <C>    <C>    <C>              <C>    <C>      <C>
BEGINNING O/S RECEIVABLES                                        27-FEB-02     $2,215,758.54    28-FEB-02       $2,215,758.54

CARDHOLDER ACTIVITY:
Current Month Net Amt Purch                                                                -                                -
Current Month Net Amt Cash                                                                 -                                -
    CHARGES/CASH ADVANCES                                                                  -                                -
Current Month Net Billed Int                                                               -                                -
Current Month Billed Late Chg                                                              -                                -
Current Month Billed OL Chg                                                                -                                -
Current Month Item Charge                                                                  -                                -
Current Month Annual Charge                                                                -                                -
Current Month Statement Charges                                                            -                                -
Current Month Misc. Charges                                                                -                                -
                                                                           ------------------             --------------------
    INTEREST/FEES ASSESSED
                                                                                           -                                -
    PAYMENTS
                                                                                           -                                -
   MISC ADJUSTMENTS
                                                                                           -                                -
   CHARGE-OFFS/CLOSE-OUTS/UNWINDS
                                                                                           -                                -

ENDING O/S RECEIVABLES                                           28-FEB-02     $2,215,758.54    28-FEB-02      $ 2,215,758.54
                                                                           ==================             ====================

CASH AVAILABILITY BASED ON DAILY SETTLEMENT:
    PAYMENTS                                                                        $      -
    CARDHOLDER FUNDING
                                                                                           -
          NET CARDHOLDER CASH ACTIVITY                                              $      -

DAILY BORROWING BASE:
     ENDING O/S RECEIVABLES                                                    $2,215,758.54                                -
     ADVANCE RATE - 60%                                                               60.00%
     MAXIMUM CREDIT LINE                                                       $1,329,455.12

LOAN RECONCILEMENT:
     BEGINNING BORROWINGS
     NET CARDHOLDER EXCESS CASH PAYDOWN
     NEW BORROWINGS
     ENDING BORROWINGS

     CURRENT AVAILABILITY                                                      $1,329,455.12

    MONTHLY INTEREST EARNED ON AVERAGE
BORROWINGS
       9.75% Annualized Rate
</TABLE>

                                      A-2
<PAGE>

                                    EXHIBIT B

                              REVOLVING CREDIT NOTE

$3,000,000.00                                                    March 15, 2002

         FOR      VALUE RECEIVED, THE UNDERSIGNED, THE CREDIT STORE, INC., A
                  DELAWARE CORPORATION (THE "BORROWER"), DOES HEREBY PROMISE TO
                  PAY TO THE ORDER OF PLAINS COMMERCE BANK (THE "BANK"), AT ITS
                  OFFICE AT HOVEN, SOUTH DAKOTA IN LAWFUL MONEY OF THE UNITED
                  STATES AND IN IMMEDIATELY AVAILABLE FUNDS, THE PRINCIPAL
                  AMOUNT OF THREE MILLION AND NO/100 DOLLARS ($3,000,000.00) OR
                  THE AGGREGATE UNPAID PRINCIPAL AMOUNT OF ALL ADVANCES (AS
                  DEFINED IN THE REVOLVING CREDIT AGREEMENT HEREAFTER DEFINED)
                  MADE TO THE BORROWER BY THE BANK PURSUANT TO THE REVOLVING
                  CREDIT AGREEMENT HEREINAFTER REFERRED TO, WHICHEVER IS LESS,
                  ON APRIL 4, 2003, AND TO PAY INTEREST ON THE UNPAID PRINCIPAL
                  AMOUNT OUTSTANDING FROM TIME TO TIME (COMPUTED ON THE BASIS OF
                  A YEAR OF THREE HUNDRED SIXTY (360) DAYS) FROM THE DATE OF
                  THIS REVOLVING CREDIT NOTE, IN LIKE MONEY, AT SAID OFFICE, AT
                  A RATE PER ANNUM EQUAL TO TWO PERCENT (2%) ABOVE THE RATE AS
                  ANNOUNCED FROM TIME TO TIME BY THE BANK AT ITS PRINCIPAL
                  OFFICE IN HOVEN, SOUTH DAKOTA AS ITS DISCOUNT RATE ("DISCOUNT
                  RATE") PAYABLE ON THE FIRST DAY OF EACH MONTH COMMENCING MAY
                  1, 2002. ANY AMOUNT OF PRINCIPAL HEREOF WHICH IS NOT PAID WHEN
                  DUE, WHETHER AT STATED MATURITY, BY ACCELERATION, OR
                  OTHERWISE, SHALL BEAR INTEREST FROM THE DATE WHEN DUE UNTIL
                  SAID PRINCIPAL AMOUNT IS PAID IN FULL, PAYABLE ON DEMAND, AT A
                  RATE PER ANNUM EQUAL AT ALL TIMES TO FOUR PERCENT (4%) ABOVE
                  THE DISCOUNT RATE. ANY CHANGE IN THE INTEREST RATE RESULTING
                  FROM A CHANGE IN THE DISCOUNT RATE SHALL BE EFFECTIVE AT THE
                  BEGINNING OF THE DAY ON WHICH SUCH CHANGE IN THE DISCOUNT RATE
                  BECOMES EFFECTIVE.

                                      A-3
<PAGE>

         THIS     REVOLVING CREDIT NOTE IS THE NOTE REFERRED TO IN THE REVOLVING
                  CREDIT AGREEMENT DATED MARCH 15, 2002, BETWEEN THE BORROWER
                  AND THE BANK (THE "REVOLVING CREDIT AGREEMENT"). THE REVOLVING
                  CREDIT AGREEMENT, AMONG OTHER THINGS, CONTAINS PROVISIONS FOR
                  ACCELERATION OF THE MATURITY OF THIS REVOLVING CREDIT NOTE
                  UPON THE HAPPENING OF CERTAIN STATED EVENTS AND ALSO FOR
                  PREPAYMENTS ON ACCOUNT OF THE PRINCIPAL OF THIS REVOLVING
                  CREDIT NOTE PRIOR TO THE MATURITY OF THE REVOLVING CREDIT NOTE
                  UPON THE TERMS AND CONDITIONS SPECIFIED IN THE REVOLVING
                  CREDIT AGREEMENT. THIS REVOLVING CREDIT NOTE IS SECURED BY A
                  SECURITY AGREEMENT REFERRED TO IN THE REVOLVING CREDIT
                  AGREEMENT, REFERENCE TO WHICH IS HEREBY MADE FOR A DESCRIPTION
                  OF THE COLLATERAL PROVIDED FOR UNDER THE SECURITY AGREEMENT
                  AND THE RIGHTS OF THE BORROWER AND THE BANK WITH RESPECT TO
                  SUCH COLLATERAL.

         THE BORROWER HEREBY CONSENTS TO THE EXCLUSIVE JURISDICTION OF ANY STATE
OR FEDERAL COURT SITUATED IN, OR WHOSE DISTRICT ENCOMPASSES, POTTER COUNTY,
SOUTH DAKOTA, AND WAIVES ANY OBJECTIONS BASED ON FORUM NON CONVENIENS, WITH
REGARD TO ANY ACTIONS, CLAIMS, DISPUTES OR PROCEEDINGS RELATING TO THIS
REVOLVING CREDIT NOTE, ANY RELATED DOCUMENT, OR ANY TRANSACTIONS ARISING
THEREFROM, OR ENFORCEMENT AND/OR INTERPRETATION OF ANY OF THE FOREGOING. Nothing
herein shall affect the Lender's right to bring proceedings against the Borrower
in the competent courts of any other jurisdiction or jurisdictions.

         THE      BORROWER AND THE LENDER HEREBY JOINTLY AND SEVERALLY WAIVE ANY
                  AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING
                  RELATING TO THIS REVOLVING CREDIT NOTE AND ALL DOCUMENTS
                  RELATING TO THIS REVOLVING CREDIT NOTE, OR ANY TRANSACTION
                  ARISING HEREFROM OR CONNECTED HERETO. THE BORROWER AND THE
                  LENDER EACH REPRESENTS TO THE OTHER THAT THIS WAIVER IS
                  KNOWINGLY, WILLINGLY AND VOLUNTARILY GIVEN.

         THIS     REVOLVING CREDIT NOTE SHALL BE GOVERNED BY THE LAWS OF THE
                  STATE OF SOUTH DAKOTA. PRESENTMENT FOR PAYMENT, DISHONOR,
                  NOTICE OF DISHONOR, AND ALL OTHER NOTICES ARE HEREBY WAIVED BY
                  BORROWER.

                                       THE CREDIT STORE, INC.

                                       By:
                                            ------------------------------------
                                       Its:
                                            ------------------------------------

                                      A-5
<PAGE>

                                    EXHIBIT C

                             COMPLIANCE CERTIFICATE

         I, ____________________ the Chief Financial Officer of The Credit
Store, Inc., a Delaware corporation (the "Borrower"), DO HEREBY CERTIFY, in
connection with the delivery by the Borrower of [describe financial statements]
to Plains Commerce Bank (the "Bank") on this date pursuant to the Revolving
Credit Agreement dated as of March ___, 2001, between the Borrower and the Bank
(the "Credit Agreement," the terms defined therein being used herein as therein
defined), that:

         1. The representations and warranties of the Borrower contained in
Article IV of the Credit Agreement are correct on and as of the date hereof as
though made on and as of such date; and

         2. No event has occurred and is continuing which constitutes an Event
of Default or would constitute an Event of Default but for the requirement that
notice be given or time elapse or both, or [if such officer has knowledge of
such an event, state in reasonable detail the circumstances surrounding the
event and the action proposed by the Borrower to cure such event].

         IN WITNESS WHEREOF, I have signed this Certificate this ___ day of
________, 200__.

                                          THE CREDIT STORE, INC.

                                          By:
                                              ----------------------------------
                                          Title:  Chief Financial Officer

                                      A-6
<PAGE>Exhibit 10.53

                              REPURCHASE AGREEMENT

         This Repurchase Agreement (the "Agreement") is made and entered into as
of December 31, 2001, by and among Thornton Capital Advisors, Inc. and/or
Recovery Partners II, LLC ("Investor"), The Credit Store, Inc., a Delaware
corporation ( "TCSI") and Plains Commerce Bank (formerly known as Bank of
Hoven), a South Dakota state bank (the "Bank").

         WHEREAS, TCSI is party to a certain Repurchase Agreement dated as of
November 30, 2000 (the "Bank Agreement") with Bank; and

         WHEREAS, TSCI has the right, on or prior to January 4, 2002, to
repurchase the Credit Card Receivables governed by the Bank Agreement; and

         WHEREAS, TCSI has requested Investor, and Investor has agreed, to
provide the funds to preserve the ability of TCSI to effect such repurchase,
based on the consideration to be furnished pursuant to, and in accordance with
the terms and conditions, of this Agreement, and

         WHEREAS, TCSI and Investor have agreed in principle to a term sheet
dated as of December 26, 2001 (a copy of which is attached hereto as an Addendum
A), which has been modified as set forth in Addendum B (as such term sheet may
be further amended from time to time, the "Stock Term Sheet"); and

         WHEREAS, TCSI arranged for the Bank to transfer the Credit Card
Receivables subject to the Bank Agreement to Investor, and Investor has agreed
to purchase such Credit Card Receivables from the Bank pursuant to the terms and
subject to the conditions herein set forth, including, without limitation,
TCSI's retention of a right to repurchase the Credit Card Receivables as herein
specified; and

         WHEREAS, Investor and TCSI wish to make arrangements with respect to
servicing of the credit card accounts and Credit Card Receivables on behalf of
Investor.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows:

                    ARTICLE 1. SALE, PURCHASE AND ASSUMPTION

         1.1 Sale and Purchase.

         As of the Closing Date, upon the terms and subject to the conditions
set forth herein, TCSI and the Bank, as their respective interests may appear,
hereby sell, assign, transfer, set-over, and otherwise convey to Investor, and
Investor hereby purchases and accepts from TCSI and the Bank, all of TCSI's and
the Bank's right, title and interest in, to and under (a) the Credit Card
Receivables identified with the Credit Card Accounts listed in

<PAGE>

the Account Schedule, (b) all monies due or to become due after the Closing Date
with respect to the Credit Card Receivables including, without limitation, the
right to any interest, fees and other charges and collections with respect
thereto (such amounts are hereinafter referred to as ("Collections"), and (c)
all proceeds of the Credit Card Receivables received on or after the Closing
Date.

         1.2 Purchase Price. The purchase price for the Credit Card Receivables
sold on the Closing Date (the "Purchase Price") shall be $8,000,000. The
Purchase Price shall be paid by Investor on or before 2:00 p.m. on the Closing
Date by wire transfer in immediately available funds to a bank account
designated by the Bank.

         1.3 Evidence of Transfer.

                  (a) In connection with the sale and assignment of Credit Card
         Receivables hereunder and in accordance with the other provisions
         hereof, TCSI and the Bank shall deliver to Investor on the Closing Date
         an executed Bill of Sale and Assignment (substantially in the form
         attached hereto as Exhibit A) and executed financing statements
         (substantially in the form attached hereto as Exhibits B and C), or
         authorize the filing of such financing statements electronically if
         such electronic filing is permitted by the laws of the state having
         jurisdiction thereof. In addition, Bank shall execute and deliver to
         Investor on the Closing Date an executed assignment of financing
         statement substantially in the form attached hereto as Exhibit D, or
         authorize the filing of such financing statements electronically if
         such electronic filing is permitted by the laws of the state having
         jurisdiction thereof.

                  (b) In connection with the sale and conveyance of Credit Card
         Receivables hereunder, TCSI and the Bank shall clearly and
         unambiguously mark their business records from and after the Closing
         Date to indicate that the Credit Card Receivables have been sold to
         Investor.

         1.4 Sale Non-Recourse and Without Warranty. Except as specifically
provided in this Agreement, the sale of Credit Card Receivables is made without
recourse to the Bank, and are transferred "as is", without warranty or
representation of any kind, nature or extent.

         1.5 Conditions to Investor's Obligations. The obligation of Investor to
effect a closing of this transaction shall be subject to the following
conditions:

                  (a) The representation and warranties of TSCI set forth herein
         shall be true and correct;

                  (b) Investor shall have received the evidence of transfer set
         forth in Section 1.3;

                                       2
<PAGE>

                  (c) J.L.B. of Nevada, Inc. shall have entered into a
         subordination agreement with Investor, in form and substance
         satisfactory to Investor;

                  (d) Investor and Coast shall have entered into a subordination
         agreement in form and substance satisfactory to Investor;

                  (e) TCSI shall have delivered a completed Servicing Report
         with respect to the Credit Card Receivables to be delivered on the
         Closing Date; and

                  (f) TCSI shall have paid the Legal Fees.

         1.6 Conditions to TCSI's and Bank's Obligations. The obligation of TCSI
and the Bank to effect a closing of this transaction shall be subject to the
following conditions:

                  (a) The representation and warranties of Investor set forth
         herein shall be true and correct; and

                  (b) Investor shall have paid the Purchase Price as specified
         in Section 1.2.

         1.7 Recharacterization. In the event that the conveyance of the Credit
Card Receivables to Investor hereunder does not constitute a "true sale" to
Investor or otherwise is not sufficient, as a matter of any applicable law, to
vest Investor with the rights of an owner with respect to such Credit Card
Receivables, or is otherwise recharacterized as a financing arrangement, then
the parties agree that such conveyance shall be deemed to have granted Investor
a first priority security interest in the Credit Card Receivables to secure all
of TCSI's obligations under this Agreement, including an obligation of TCSI to
repay Investor the Repurchase Price and the Required Return.

                         ARTICLE 2. OPTION TO REPURCHASE

         2.1 Option as to Repurchase. At the times and in the manner specified
in Section 2.2, Investor hereby agrees to sell, assign, transfer, set-over, and
otherwise convey to TCSI, and TCSI hereby agrees to purchase and accept from
Investor, as of the Repurchase Date, all of Investor's right, title and interest
in, to and under (a) the Credit Card Receivables, (b) all monies and other
Collections due or to become due after the Repurchase Date with respect to the
Credit Card Receivables, and (c) all proceeds of the Credit Card Receivables
received on or after the Repurchase Date.

                                       3
<PAGE>

         2.2 Repurchase Date and Terms of Repurchase. (a) TCSI Option. At TCSI's
option, TCSI shall have the right to repurchase all the Credit Card Receivables
by giving Investor a repurchase notice and designating a specific business day
as the "Repurchase Date."

                  (b) Investor Option. At Investor's option, exercised at any
         time after the Put Date, Investor may exercise the right to require
         TCSI to repurchase all the Credit Card Receivables by giving TCSI a
         repurchase notice and designating a specific business day no earlier
         than 60 days after the date of such notice as the "Repurchase Date,"
         provided, however, that TSCI may elect to designate an earlier date as
         the Repurchase Date, in which event the repurchase shall occur on the
         earlier date specified by TCSI.

                  (c) Automatic Trigger of Repurchase Obligation. Automatically
         upon the occurrence of an Insolvency Event with respect to TCSI, TCSI
         shall be required to repurchase the receivables within three business
         days of such Insolvency Event, which date shall be the "Repurchase
         Date."

                  (d) Time of Transfer. The Credit Card Receivables shall be
         retransferred effective as of 11:59 p.m. on the Repurchase Date.

                  (e) Repurchase Price. The repurchase price for the Credit Card
         Receivables under subparagraphs (a), (b) and (c) hereof shall be equal
         to the Purchase Price (as the same may have been reduced by payments to
         Investor other than payments of expenses and Required Return) plus the
         Required Return through the Repurchase Date (the "Repurchase Price").
         The Repurchase Price shall be paid on the Repurchase Date, in either
         case by wire transfer in immediately available funds to a bank account
         designated by Investor.

         2.3 Evidence of Retransfer.

                  (a) In connection with the sale and assignment of Credit Card
         Receivables hereunder, Investor shall deliver to TCSI on the Repurchase
         Date an executed Bill of Sale and Assignment (substantially in the form
         attached hereto as Exhibit A) and an executed financing statement
         (substantially in the form attached hereto as Exhibit B) and a UCC-3
         termination statement relating to the Credit Card Receivables being
         repurchased on such date.

                  (b) In connection with the retransfer to TCSI of Credit Card
         Receivables hereunder, Investor shall clearly and unambiguously mark
         its business records from and after the Repurchase Date to show that
         the Credit Card Receivables have been sold to TCSI.

                                       4
<PAGE>

         2.4 Sale Non-Recourse and Without Warranty. Except as specifically
provided in this Agreement, the retransfer of Credit Card Receivables is made
without recourse to Investor, and are transferred "as is", without warranty or
representation of any kind, nature or extent.

         2.5 Right of Investor to Liquidate Credit Card Receivables. In the
event that TCSI fails to complete the repurchase of Credit Card Receivables on
the Repurchase Date specified in Sections 2.2(a), 2.2(b), or 2.2(c), as the case
may be, Investor shall have the right upon three business days prior written
notice to TCSI describing such proposed liquidation, in addition to all other
rights and remedies as Investor may have hereunder or under applicable law, to
liquidate the Credit Card Receivables in such manner as Investor shall determine
in its discretion. In the absence of intentional fraud, Investor shall not be
required to account to TCSI for the manner in which the Credit Card Receivables
are liquidated, but shall furnish to TCSI a detailed report of such liquidation
and account to TCSI for any proceeds received in excess of the Repurchase Price
and any other amounts due hereunder. TCSI acknowledges that the liquidation
rights granted herein constitute a contractual right of a repo participant to
cause the liquidation of a repurchase agreement within the meaning of ss.559 of
the United States Bankruptcy Code.

         2.6 TCSI Obligation to Pay Repurchase Price; Interest. In the event of
a failure of TCSI to complete the repurchase of Credit Card Receivables on the
Repurchase Date specified in Sections 2.2(a), 2.2(b), or 2.2(c), TCSI's
obligation to pay Investor the Repurchase Price shall bear interest at a rate
equal to the Required Return until Investor, whether through receipt of
Collections, liquidation of the Credit Card Receivables or of the Collateral, or
the receipt of other payments, shall have received in cash an amount equal to
the full Repurchase Price plus all such interest.

                    ARTICLE 3. SERVICING AND COLLATERAL RATIO

         3.1 Servicing of Credit Card Accounts.

                  (a) TCSI shall service the Credit Card Accounts in accordance
         with the terms and conditions set forth in Exhibit E attached hereto.
         As compensation for TCSI's servicing activities with respect to the
         Credit Card Accounts, Investor shall pay to TCSI, during the Servicing
         Fee Payment Period, a servicing fee equal to the amount of net cash
         proceeds from the Credit Card Receivables in excess of a yield on the
         unpaid portion of the Purchase Price equal to the Required Return for
         such period (the "Monthly Yield"). The Servicing Fee shall be offset by
         TCSI against net cash proceeds collected from the Credit Card
         Receivables. The Monthly Yield for the prior month shall be distributed
         to Investor on a monthly basis on the first (1st) day of each month.
         Other than during the Servicing Fee Payment Period, TCSI shall service
         the Credit Card Accounts without additional compensation, in
         consideration for the other covenants and provisions of this Agreement.

                                       5
<PAGE>

                  (b) In servicing the Credit Card Accounts, it may be necessary
         for TCSI to have possession of records and documents relating to and
         generated as part of the Credit Card Accounts. TCSI's possession shall
         be only as servicer, and not as owner, and TCSI's continued possession
         of those records, shall not be evidence of continued ownership of an
         interest in or control of the Credit Card Accounts or Credit Card
         Receivables. Furthermore, TCSI expressly agrees that it is acting as
         Investor's agent and trustee in holding Credit Card Account records and
         documents, and holds them in trust solely for the benefit of Investor,
         and not for TCSI's own purposes or use.

         3.2 Funding New Charges on the Credit Card Accounts. TCSI shall apply
Collections to fund net new charges and advances on the Credit Card Accounts
after the Closing Date. All such new charges and advances shall be deemed to be
part of the Credit Card Receivables conveyed to Investor hereunder. In addition,
to the extent that on the last business day of any calendar month aggregate
Collections (less the payments of Monthly Yield to Investor) for the preceding
month are less than the aggregate amount of new Credit Card Receivables arising
during such month, TCSI shall pay such difference to Investor or, if for the
benefit of the Investor (which thereby gains additional rights to Credit Card
Receivables), to the financial institution which issued the credit cards related
to the Credit Card Accounts, which payment by TCSI shall be applied to the
funding of such new charges and advances.

         3.3 Application of Collections. Collections on the Credit Card
Receivables shall be used first to fund new charges and advances in accordance
with Section 3.2 hereof; second, to pay Investor its Required Return for such
period; third, to pay TCSI any servicing fee to which it may be entitled under
Section 3.1 hereof with respect to such period; and last, any remaining
Collections shall be paid to Investor.

         3.4 Maintenance of Collateral Ratio. On or before the tenth (10th) day
of each month, TCSI shall determine the extent (the "Collateral Shortfall"), if
any, by which the Collateral Ratio as of the last day of the preceding month is
less than the Required Collateral Ratio, and shall immediately sell, assign,
transfer, and otherwise convey to Investor, without additional consideration,
additional Eligible Accounts (the "Additional Credit Card Accounts") equal to
the Collateral Shortfall. TCSI shall make such payments to Coast, and shall
obtain such releases and other documents from Coast, as shall be necessary or
desirable to ensure that Investor's interest in the Additional Credit Card
Accounts is free and clear of, and senior to, any rights of Coast to such
Additional Credit Card Accounts. In lieu of transferring additional Eligible
Accounts, TCSI shall have the option of paying cash to the Investor in reduction
of the Repurchase Price, in such amount as may be required to eliminate the
Collateral Shortfall.

                      ARTICLE 4. GRANT OF SECURITY INTEREST

         4.1 Collateral. To secure the obligations of TCSI to Investor
hereunder, including its obligations to service the Credit Card Accounts and to
pay Investor the

                                       6
<PAGE>

Repurchase Price together with interest as specified in Section 2.6, TCSI grants
Investor a security interest in all of TCSI's interest in the Collateral.

         4.2 Enforcement. In the event of a material default by TCSI in
performing its obligations hereunder, Investor may (i) by written notice to
TCSI, declare all TCSI's obligations hereunder to be forthwith due and payable,
which shall become and be forthwith due and payable, without presentment,
demand, protest, or further notice of any kind, all of which are hereby
expressly waived by TCSI, or (ii) subject to the prior rights of Coast in and to
the Collateral and to the terms of that certain Subordination Agreement of even
date herewith between Investor and Coast ("Subordination Agreement"), exercise
all or any of its rights hereunder or as a secured party under the Uniform
Commercial Code or under other applicable laws, all of which rights and remedies
shall be cumulative, and non-exclusive, to the extent permitted by law.

         4.3 Right to Effect Collections. In order to enable Investor to
exercise its rights under Section 4.2, TCSI, subject to the prior rights of
Coast in and to the Collateral and to the terms of the Subordination Agreement,
hereby irrevocably constitutes and appoints Investor and any officer or agent
thereof, with full power of substitution, as its true and lawful
attorney-in-fact with full irrevocable power and authority in its place and
stead to take any and all appropriate action and to execute and deliver any and
all documents and instruments which may be necessary or desirable to accomplish
the purposes of this Agreement, including, without limitation, any of the
following actions: (a) to ask, demand, collect, receive and give acquittances
and receipts for any and all moneys due and to become due under any Collateral
or with respect to the Credit Card Accounts; (b) to take possession of and
endorse and collect any checks, drafts, notes, acceptances or other instruments
for the payment of moneys due under any Collateral or with respect to the Credit
Card Accounts; (c) to direct any party liable for any payment under any of the
Collateral or with respect to the Credit Card Accounts to make payment directly
to Investor or its designee; (d) to commence, prosecute, settle, compromise or
adjust any suits, actions or proceedings at law or in equity in any court of
competent jurisdiction for the purpose of collecting any and all such moneys due
under any Collateral or with respect to the Credit Card Accounts whenever
payable; and (e) to sell, transfer, pledge, make any agreement with respect or
otherwise deal with any of the Collateral (or, to the extent their transfer is
deemed to have created a security interest, with respect to the Credit Card
Accounts) as fully and completely as though the Lender were the absolute owner
thereof.

         4.4 Release of Liens. In the event that TCSI sells a portion of the
Collateral in the ordinary course of its business, as conducted historically
during the three years prior to the date of this Agreement, Investor agrees to
execute such evidence of release of its security interests in such Collateral as
TCSI reasonably requests, provided that Coast shall have contemporaneously
executed a substantially similar release of its security interests in such
Collateral. Investor further acknowledges that such ordinary course sales, as
described in the preceding sentence, shall not constitute a breach of this
Agreement or a violation of Investor's rights as a secured creditor.
Irrespective of their characterization for

                                       7
<PAGE>

any other purpose, the Credit Card Accounts shall not be deemed to constitute
Collateral for purposes of the provisions of this Section 4.4.

                    ARTICLE 5. REPRESENTATIONS AND WARRANTIES

         5.1 Representations and Warranties. TCSI represents, warrants and
covenants as follows as of the Closing Date:

                  (a) The Bank has good and marketable title to the Credit Card
         Receivables as of the Closing Date, free and clear of any liens, and
         upon consummation of the transfer contemplated herein, Investor will
         acquire good and marketable title to the Credit Card Receivables as of
         the Closing Date, free and clear of any liens.

                  (b) TSCI has good and marketable title to the Collateral, and
         the Collateral is free and clear of any liens other than the liens of
         Coast Business Credit and J.L.B. of Nevada, Inc.

                  (c) Neither TCSI nor the Bank have through any action taken by
         either of them adversely affected the legal, valid, and binding nature
         of the Credit Card Receivables.

                  (d) In the origination and servicing of each Credit Card
         Receivable, TCSI has complied and will comply, in all material
         respects, with all requirements of applicable federal, state, and local
         laws, and regulations, including, without limitation, to the extent
         applicable, the federal Truth-in-Lending Act, the federal Equal Credit
         Opportunity Act, the federal Fair Credit Reporting Act, the federal
         Fair Debt Collection Practices Act and the Federal Reserve Board's
         Regulations B and Z ("Applicable Laws").

                  (e) TCSI is a corporation duly organized, validly existing and
         in good standing under the laws of the State of Delaware. TCSI has all
         requisite power and authority to enter into this Agreement and to
         perform its obligations hereunder. The execution and delivery of this
         Agreement by TCSI and the performance of its obligations hereunder have
         been duly authorized by all necessary corporate action.

                  (f) TCSI and the Bank have the power to sell, convey, assign,
         transfer and deliver the Credit Card Receivables to Investor.

                  (g) Each of the Credit Card Accounts is an Eligible Account.

         5.2 Investor's Representations and Warranties (Closing Date). Investor
represents, warrants and covenants as follows as of the Closing Date:

                  (a) Investor has the power to purchase the Credit Card
         Receivables under the terms and in accordance with this Agreement.

                                       8
<PAGE>

                  (b) Investor is duly organized, existing and in good standing
         in the state of its organization. Investor has all requisite power and
         authority to enter into this Agreement and to perform its obligations
         hereunder. The execution and delivery of this Agreement by Investor and
         the performance of its obligations hereunder have been duly authorized
         by all necessary corporate action.

         5.3 Investor's Representations and Warranties (Repurchase Date). By the
retransfer by Investor of Credit Card Receivables on the Repurchase Date,
Investor shall be deemed to represent, warrant and covenant as follows as of the
Repurchase Date:

                  (a) Investor has good and marketable title to the Credit Card
         Receivables being repurchased on the Repurchase Date, free and clear of
         any liens created or suffered by Investor.

                  (b) Investor is duly organized, existing and in good standing
         in the jurisdiction of its organization. Investor has all requisite
         power and authority to enter into this Agreement and to perform its
         obligations hereunder. The execution and delivery of this Agreement by
         Investor and the performance of its obligations hereunder have been
         duly authorized by all necessary corporate action.

                  (c) Investor has the power to sell, convey, assign, transfer
         and deliver to TCSI the Credit Card Receivables being repurchased on
         the Repurchase Date.

                           ARTICLE 6. INDEMNIFICATION

         6.1 Indemnification by TCSI. TCSI hereby agrees to indemnify Investor
and hold Investor harmless from any liability, loss, cost or expense (including
reasonable outside attorneys' fees) to the extent it is caused by or results
from (i) the breach of TCSI's representations or warranties contained in this
Agreement; (ii) the breach by TCSI of any of its covenants or agreements
contained in this Agreement; (iii) any liability or obligation, contingent or
otherwise, arising out of or in connection with TCSI's actions with respect to
the Credit Card Receivables prior to the Closing Date, except to the extent that
such liability or obligation is expressly assumed by Investor under this
Agreement; or (iv) any liability or obligation, contingent or otherwise, arising
out of or in connection with TCSI's actions with respect to servicing the Credit
Card Receivables pursuant to Section 3.1 and Exhibit E hereto.

         6.2 Indemnification by Investor. Investor hereby agrees to indemnify
TCSI and hold it harmless from any liability, loss, cost or expense (including
reasonable outside attorneys' fees) to the extent it is caused by or results
from (i) the breach by Investor of any of Investor's representations or
warranties contained in this Agreement; (ii) the breach by Investor of any of
its covenants or agreements contained in this Agreement; or (iii) any liability
or obligation, contingent or otherwise, arising out of or in connection with
Investor's actions with respect to the Credit Card Receivables following the
Closing Date, except to the

                                       9
<PAGE>

extent that such liability or obligation is expressly assumed by TCSI pursuant
to this Agreement.

         6.3 Indemnification Procedures. In case any claim is made, or any suit
or action is commenced in respect of which indemnification is sought by it under
this Article 6, the indemnified party shall promptly give the indemnifying party
notice thereof and the indemnifying party shall be entitled to participate in
(or, if indemnified party does not desire to defend, to conduct) the defense
thereof at the indemnifying party's expense. The indemnifying party may (but
need not) defend or participate in the defense of any such claim, suit or
action, but the indemnifying party shall promptly notify the indemnified party
if the indemnifying party does not desire to defend or participate in the
defense of any such claim, suit or action, or if the indemnifying party disputes
liability for indemnity under this Article 6. Thereafter the indemnified party
shall defend and, so long as the indemnifying party has not undertaken the
defense or is not participating in the defense, the indemnified party may at any
time notify the indemnifying party of its intention to settle or compromise any
claim, suit or action against the indemnified party in respect of which payments
may be sought by the indemnified party hereunder, and the indemnified party may
settle or compromise any such claim, suit or action unless the indemnifying
party notifies the indemnified party in writing (within ten (10) days after the
indemnified party has given written notice of its intention to settle or
compromise) the indemnifying party intends to conduct the defense of such claim,
suit or action. Any such permitted settlement or compromise by the indemnified
party of, or any final judgment or decree entered on or in, any claim, suit or
action which the indemnified party has defended and of which the indemnifying
party has not elected to defend or to participate in the defense of in
accordance herewith, shall be deemed to have been consented to by, and shall be
binding upon, the indemnifying party as fully as if the indemnifying party had
assumed the defense thereof and a final judgment or decree had been entered in
such suit or action, or with regard to such claim, by a court of competent
jurisdiction for the amount of such settlement, compromise, judgment or decree.
In all cases in which the indemnifying party is participating in the defense
with the indemnified party, the indemnified party shall not settle or compromise
any claim or action without the indemnifying party's prior written consent which
shall not be unreasonably withheld.

                            ARTICLE 7. MISCELLANEOUS

         7.1 Notices. All notices, demands and other communications hereunder
shall be in writing and shall be deemed to have been duly given when received in
person or by postage prepaid, United States certified or registered mail, with
return receipt requested, or otherwise actually received by facsimile
transmission or by nationally recognized private courier service with receipt
acknowledged in both instances, and addressed as follows:

                                       10
<PAGE>

                  (i)      If to TCSI, to:

                           The Credit Store, Inc.
                           3401 N. Louise Avenue
                           Sioux Falls, SD 57107
                           Attn:  President
                           Fax No.  (605) 338-3486

                  (ii)     If to the Bank, to:

                           Plains Commerce Bank
                           202 Main Street
                           Hoven, SD   57450
                           Attn:  President

                   (ii)    If to Investor, to:

                           Thornton Capital Advisors, Inc.
                           9710 Scranton Road, Suite 160
                           San Diego, CA 92121
                           Attn:  President

         Notwithstanding the foregoing, if any person to whom a properly
addressed and prepaid (with return address shown) notice is sent by United
States certified or registered mail as stated above, declines delivery thereof,
such notice shall be deemed received on the third (3rd) Business Day following
the date it was deposited in the United States mail. The persons or addresses to
which mailings or deliveries shall be made may be changed from time to time by
notice given pursuant to the provisions of this Section 7.1.

         7.2 Successors and Assigns. This Agreement shall be binding upon and
shall inure to the benefit of the parties hereto and their respective permitted
successors and assigns and permitted transferees. This Agreement may not be
assigned by either TCSI or Investor without the written consent of the other
party, such consent not to be unreasonably withheld, provided, however, that the
rights of Investor may be transferred among Thornton Capital Advisors, Inc. and
Recovery Partners II, LLC without restriction.

         7.3 Counterparts. This Agreement may be executed in one or more
counterparts, all of which taken together shall constitute one instrument.

         7.4 Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF SOUTH DAKOTA, WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

         7.5 Entire Agreement; Amendment. Except as specifically stated
otherwise herein, this Agreement sets forth the entire understanding of the
parties relating to the subject matter hereof, and all prior understandings,
written or oral, are superseded by this

                                       11
<PAGE>

Agreement. This Agreement may not be modified, amended, waived or supplemented
except with the written agreement of each of the parties hereto.

         7.6 No Consequential Damages. Neither Investor nor TCSI nor Bank shall
be liable one to any of the others for any indirect, incidental or consequential
damages as a result of any breach of any covenant, warranty, representation or
obligation under this Agreement.

         7.7. Costs and Expenses. TCSI shall promptly reimburse Investor, on
demand, for all costs and expenses (including, without limitation, all filing
and recording fees and taxes, reasonable attorneys' and paralegals' fees and
expenses, and out-of-pocket audit expenses) incurred by Investor in connection
with the negotiation, preparation, execution and delivery of this Agreement, any
amendment, supplement or modification of the terms thereof, or any waiver or
consent thereunder or in respect thereof, and the consummation of the
transactions contemplated hereby and thereby, and the enforcement of any rights
of Investor thereunder or with respect to the Collateral or the Credit Card
Receivables.

ARTICLE 8.  DEFINITIONS

         8.1 Definitions. As used in this Agreement, the following terms will
have the following meanings (such meanings to be equally applicable to the
singular and plural forms of the terms defined).

         "Account Schedule" means the list of Credit Card Accounts the
receivables of which are sold to Investor pursuant to this Agreement, such list
to be delivered to Investor on the Closing Date, as such list may be amended or
supplemented from time to time pursuant to the terms of this Agreement.

         "Additional Credit Card Accounts" means the VISA or MasterCard credit
card accounts transferred to Investor from time to time in accordance with
Section 3.4.

         "Applicable Laws" has the meaning given such term in Section 5.1(d).

         "Bank" means Plains Commerce Bank (formerly known as Bank of Hoven), a
South Dakota state bank and its successors and permitted assigns.

         "Bank Agreement" shall have the meaning set forth in the preamble.

         "Cancellation Date" means the date on which the Stock Transaction is
abandoned or canceled by either TCSI or by Investor, provided that the
Cancellation Date shall not be deemed to have occurred if (a) Investor breaches
its obligations under the definitive documentation reflecting the Stock
Transaction or if (b) Investor refuses to execute such definitive documentation
notwithstanding TCSI's consent to all provisions of such documentation
reasonably requested by Investor pursuant to the Stock Term Sheet, including
provisions related to material adverse change related to TCSI or its business.

                                       12
<PAGE>

         "Closing Date" means January 4, 2002.

         "Coast" means Coast Business Credit, a division of Southern Pacific
Bank.

         "Collateral" means all of TCSI's interest in the following, whether now
owned or hereinafter acquired, and wherever located: All Receivables, Inventory,
Equipment, Investment Property, and General Intangibles, including without
limitation all of TCSI's Deposit Accounts and all money, and all property now or
at any time in the future in Investor's possession (including claims and credit
balances), and all proceeds of any of the foregoing (including proceeds of any
insurance policies, proceeds of proceeds, and claims against third parties), all
products of any of the foregoing, and all books and records related to any of
the foregoing.

         "Collateral Ratio" means, as of any date of measurement, the ratio of
Credit Card Receivables in Eligible Accounts to the Repurchase Price which would
be due if (notwithstanding any provisions of this Agreement related to the
timing of the Repurchase Date), the date of measurement were the Repurchase
Date.

         "Collateral Shortfall" has the meaning given such term in Section 3.4.

         "Collections" has the meaning given such term in Section 1.1.

         "Credit Card Accounts" means the VISA or MasterCard credit card
accounts identified in TCSI's records as Pool Identification Number 1998003,
Pool Identification Number 1998006, and Pool Identification Number 2000014 that
are described in the Account Schedule on the Closing Date, and the Additional
Credit Card Accounts. A Credit Card Account includes any related "relationship
account" resulting from the earlier account having been reported as lost or
stolen.

         "Credit Card Receivables" means all the outstanding loans and other
credit resulting from cash advances, purchases, balance transfers or any other
charges on the Credit Card Accounts, whether existing on the date hereof or
thereafter arising, together with all interest income, finance charges,
membership fees, usage fees, transaction charges, late charges, over limit
charges, return check charges, and all other rights to payment or compensation
related to the Credit Card Accounts.

         "Deposit Account" shall have the meaning set forth in the Uniform
Commercial Code, as enacted in South Dakota as of the date hereof.

         "Documentation Date" means the date on which TCSI and Investor execute
definitive documentation obligating each of them to proceed with the Stock
Transaction.

         "Eligible Account" means a credit card account that satisfies each of
the following criteria as of the Closing Date: (a) the receivables in such
credit card account are payable in United States dollars; (b) the obligor on
such credit card account has provided, as its billing address, an address

                                       13
<PAGE>

located in the United States or its territories or possessions or a United
States military address; (c) if a credit card account has been identified by
TCSI in its computer files as stolen or lost, there is a replacement account
that has been delivered to Bank; (d) such credit card account has not been sold,
assigned or pledged to any other party and does not have receivables which, at
such time, are sold, assigned or pledged to any other party; (e) such credit
card account has not been cancelled; (f) the receivables in such credit card
account are bona fide and fully collectible in the full amount thereof, and the
holder of such account has not disputed such charges; (g) the account is not
over 180 days delinquent; and (h) the holder of the account is not the subject
of any pending insolvency proceeding.

         "Equipment" means all of TCSI's present and hereafter acquired
machinery, molds, machine tools, motors, furniture, equipment, furnishings,
fixtures, trade fixtures, motor vehicles, tools, parts, dies, jigs, goods and
other goods (other than Inventory) of every kind and description used in TCSI's
operations or owned by TCSI and any interest in any of the foregoing, and all
attachments, accessories, accessions, replacements, substitutions, additions or
improvements to any of the foregoing, wherever located.

         "General Intangibles" means all general intangibles of TCSI, whether
now owned or hereinafter created or acquired by TCSI, including, without
limitation, all choses in action, causes of action, corporate or other business
records, Deposit Accounts, investment property, inventions, designs, drawings,
blueprints, patent applications, trademarks and the goodwill of the business
symbolized thereby, names, trade names, trade secrets, goodwill, copyrights,
registrations, licenses, franchises, customer lists, security and other
deposits, rights in all litigation presently or hereafter pending for any cause
or claim (whether in contract, tort, or otherwise), and all judgments now or
hereafter arising therefrom, all claims of TCSI against Investor, rights to
purchase or sell real or personal property, rights as a licensor or licensee of
any kind, royalties, telephone numbers, proprietary information, purchase
orders, and all insurance policies and claims (including, without limitation,
life insurance, key man insurance, liability insurance, property insurance and
other insurance), tax refunds and claims, computer programs, discs, tapes and
tape files, claims under guaranties, security interests or other security held
by or granted to TCSI, all rights to indemnification and all other intangible
property of any kind and nature (other than Receivables).

         "Insolvency Event" means the occurrence of any of the following: (a)
the commencement by TCSI of a proceeding under the United States Bankruptcy
Code; (b) if an involuntary proceeding is commenced against TCSI under the
United States Bankruptcy Code, the failure of such proceeding to be dismissed
within 30 days of the filing thereof; (c) the appointment of a receiver, trustee
or custodian, for all or any part of the property of TCSI or an assignment of
the benefit of its creditors; (d) the commencement of any proceeding by TCSI
under any reorganization, bankruptcy, insolvency, arrangement, readjustment of
debt, dissolution or liquidation law, or statute of any jurisdiction, now or in
the future in effect; or

                                       14
<PAGE>

(e) the passing of a resolution by the Board of Directors TCSI authorizing any
person to take any of the actions or to commence any of the proceedings
described in this paragraph.

         "Inventory" means all of TCSI's now owned or hereafter acquired goods,
merchandise or other personal property, wherever located, to be furnished under
any contract of service or held for sale or lease (including without limitation
all raw materials, work in process, finished goods and goods in transit, and
including without limitation all farm products), and all materials and supplies
of every kind, nature and description which are or might be used or consumed in
TCSI's business or used in connection with the manufacture, packing, shipping,
advertising, selling or finishing of such goods, merchandise or other personal
property, and all warehouse receipts documents of title or other documents
representing any of the foregoing.

         "Investment Property" shall have the meaning set forth in the Uniform
Commercial Code, as enacted in South Dakota as of the date hereof.

         "Legal Fees" means the fees and costs of Sidley Austin Brown & Wood,
counsel to Investor, in connection with the transaction described herein.

         "Monthly Yield" has the meaning given such term in Section 3.1.

         "Placement Fee" means the fee of 1/2 of 1% per annum payable to
Thornton Capital Advisors, Inc. in connection with this transaction.

         "Purchase Price" has the meaning given such term in Section 1.2(b).

         "Put Date" shall mean the earliest of (a) the Cancellation Date; (b)
the date of a material default under this Agreement which has not been remedied
within three business days after written notice of such default is delivered to
TCSI; or (c) May 1, 2002.

         "Receivables" means all of TCSI's now owned and hereafter acquired
accounts (whether or not earned by performance), letters of credit, contract
rights, chattel paper, instruments, securities, documents, securities accounts,
investment property and all other forms of obligations at any time owing to
TCSI, all guaranties and other security therefor, all merchandise returned to or
repossessed by TCSI, and all rights of stoppage in transit and all other rights
or remedies of an unpaid vendor, lienor or secured party.

         "Repurchase Date" shall mean the earliest of the dates specified in
Sections 2.2(a), 2.2(b), and 2.2(c).

         "Repurchase Price" has the meaning given such term in Section 2.2(e).

         "Required Collateral Ratio" means a Collateral Ratio of at least 125%.

         "Required Return" means cash in an amount sufficient to provide
Investor with a pre-tax rate of return on the Purchase Price, taking into
account all cash received by Investor, of (a) 12% per annum for the period which
is prior to the Return Change Date and

                                       15
<PAGE>

(b), 37 1/2 % per annum thereafter. The Required Return shall be inclusive of a
1/2 of 1% Placement Fee.

         "Return Change Date" means the earlier of (a) the Cancellation Date,
and (b) March [5], 2002 [the 60th day after the Closing Date].

         "Servicing Fee Payment Period" means the time period (a) from and after
the Closing Date until January 21, 2002, and (b) from and after the
Documentation Date until the Cancellation Date, provided in either case that
TCSI is not then in material default of its obligations under this Agreement.

         "Servicing Report" means a completed report, in the form of Exhibit F
hereto, dated and accurate as of the last date of the month preceding the month
in which such Servicing Report is delivered, which shall in addition include a
trial balance and aging report on the Credit Card Receivables described therein.

         "Stock Term Sheet" shall have the meaning set forth in the preamble.

         "Stock Transaction" means the proposed transaction between TCSI and
Investor which is described in the Stock Term Sheet.

         "TCSI" means The Credit Store, Inc., a Delaware corporation, and its
successors and permitted assigns.

                                       16
<PAGE>

                  IN WITNESS WHEREOF, Investor and TCSI each have caused this
Agreement to be duly executed by their respective officers as of the day and
year first above written.

                                       THE CREDIT STORE, INC.

                                       By:  /s/ Michael J. Philippe
                                            ------------------------------------
                                             Its Chief Financial Officer

                                       PLAINS COMMERCE BANK (formerly
                                       known as BANK OF HOVEN)

                                       By:  /s/ Stephen Hageman
                                            ------------------------------------
                                         Title:  President/CEO

                                       THORNTON CAPITAL ADVISORS, INC.

                                       By:  /s/ Mark Bernier
                                            ------------------------------------
                                         Title:  President

                                       RECOVERY PARTNERS II, LLC
                                       By:  Thornton Capital Advisors, Inc., its
                                       managing member

                                       By:  /s/ Mark Bernier
                                            ------------------------------------
                                             Title:Its President

<PAGE>

                                    EXHIBIT A

                           BILL OF SALE AND ASSIGNMENT

         For value received and subject to the terms and conditions of the
Repurchase Agreement dated as of December 31, 2001 (the "Agreement") among The
Credit Store, Inc., a Delaware corporation ("TCSI"), Plains Commerce Bank
(formerly known as Bank of Hoven), a South Dakota State Bank ("Bank"), and
Thornton Capital Advisors and/or Recovery Partners II ("Investor"), TCSI and the
Bank hereby transfer, sell, assign, convey, grant, bargain, set over and deliver
to Investor, and to Investor's successors and assigns, certain Credit Card
Receivables described in the Agreement.

         Except as provided in the Agreement, this Bill of Sale and Assignment
is executed by TCSI without recourse and without representations or warranties.

         This Bill of Sale and Assignment is executed by Bank without recourse
and without representations or warranties, except that Bank warrants that it has
good and marketable title to the Credit Card Receivables as of the Closing Date,
free and clear of any liens created or suffered by the Bank, and has the
corporate authority to transfer such Credit Card Receivables to Investor as
contemplated by the Repurchase Agreement.

THE CREDIT STORE, INC.
a Delaware corporation

By:
   -------------------------------
   Name:
        --------------------------
   Title:
         -------------------------
PLAINS COMMERCE BANK (formerly known as BANK OF HOVEN) a South Dakota state bank

By:
   -------------------------------
   Name:
        --------------------------
   Title:
         -------------------------
   Date: ____________________, 2002

<PAGE>

                                    EXHIBIT E

                   ASSIGNMENT OF FINANCING STATEMENT FROM BANK

         [FORM OF IN-LIEU DELAWARE FILING AND ASSIGNMENT TO BE ATTACHED]

<PAGE>

                                    EXHIBIT E

                               CREDIT CARD ACCOUNT

                         SERVICING TERMS AND CONDITIONS

         1. Servicing of Credit Card Accounts. TCSI shall perform its normal and
customary servicing with respect to the Credit Card Receivables, as specified
more particularly in this Section 1 of this Exhibit "E all in accordance with
good business policies, practices, procedures and internal controls applicable
to the management and administration of credit cards and, without limiting the
foregoing, specifically in accordance with standards and practices employed by
TCSI for bank credit card receivables owned by TCSI for its account. In
conducting servicing, TCSI shall manage, perform and enforce the terms of the
cardholder agreements and enforce any and all of the obligations and liabilities
of cardholders under such cardholder agreements in accordance with the exercise
of TCSI's prudent business practices, which, without limitation, shall include
providing customer service, security and fraud monitoring and control,
collections and payment processing. In performing its servicing duties
hereunder, TCSI shall use its best efforts to meet the following standards:

                  1.1      Customer service correspondence shall be responded to
                           in thirty (30) days or less;

                  1.2      Customer calls shall be answered within sixty (60)
                           seconds;

                  1.3      Customer service call abandon rates shall be five
                           percent (5%) or less;

                  1.4      Payments received by 9:00 a.m. at the remittance
                           address shall be effective dated the day of receipt;
                           and

                  1.5      Collection efforts must consist of a minimum of three
                           telephone attempts and one collection letter per
                           month for accounts one or more billing cycles
                           delinquent, with the first telephone attempt being
                           made within ten (10) days following the occurrence of
                           the delinquency.

         2. Charge-Back Processing. Investor acknowledges that, in the course of
servicing credit card accounts, TCSI shall act as an intermediary between
Cardholders and merchants in the satisfaction of disputed charges. TCSI will
receive and register each such dispute and perform all functions necessary to
discharge its responsibilities under the By-Laws and Operating Rules of Visa(R)
or MasterCard(R), as the case may be, including strict adherence to rules and
regulations relating to consumer disputes and merchant resolutions. In the
event, however, that such efforts are wholly or partially unsuccessful, then
charges which remain unresolved between a cardholder and the merchant, commonly
referred to as "charge-backs," shall be deducted from the Credit Card
Receivables, and TCSI shall be obligated to transfer to Investor a substitute
credit card receivable, in like amount, in order to maintain the Collateral
Ratio as specified in the Repurchase Agreement.

<PAGE>

         3. Segregation of Activity. TCSI will employ all necessary means to
ensure that all activity pertaining to credit card accounts is appropriately
segregated from other operations of TCSI. Such means shall include the
maintenance of regular separate reporting capability for all material items of
accounting information regarding the Credit Card Receivables. TCSI shall provide
Investor with monthly cash flow and delinquency reports regarding the Credit
Card Receivables. All Collections and proceeds thereof shall be held by TCSI in
trust for Investor except during the Servicing Fee Payment Period.

         4. Inspection Rights. TCSI shall permit Investor, or any agent,
designee or representative of Investor to have full and free access during
normal business hours upon reasonable prior notice to all the books,
correspondence, computer data and records of TCSI insofar as they relate to the
Credit Card Receivables. Investor shall have the right, at its expense, upon
reasonable notice to TCSI, to conduct an audit of all or any portion of the
records (including computerized records) of TCSI as the same pertain to the
Credit Card Receivables.

         5. Compliance with Laws. TCSI shall comply in all material respects
with applicable laws, rules and regulations applicable to the servicing of the
Credit Card Receivables.

         6. Interruption of Servicing. If TCSI is prevented from performing its
obligations under this Agreement, due to causes beyond its reasonable control,
including without limitation, strikes, riots, tornadoes, fires, power failures,
the failure or closure of a financial institution, machine breakdowns,
computer-associated equipment outages, or any other catastrophe rendering its
data processing center wholly or partially inoperable, TCSI shall not be liable
for any loss or damage to Bank. TCSI shall, through its own facilities,
suppliers of computer equipment, or other processors, use its reasonable efforts
to promptly provide processing services of comparable quality to those which had
been provided by TCSI prior to the disruption in services.

         7. Term of Servicing Agreement. The term of TCSI's obligation to
service the credit card accounts pursuant to this Agreement shall expire on the
earlier to occur of (x) the second anniversary of the Closing Date and (y) the
Repurchase Date. At any time after default by TCSI under this Agreement,
Investor may terminate this Servicing Agreement upon ninety (90) days written
notice, provided, however, that Investor shall have the right to terminate this
Servicing Agreement effective immediately upon written notice in the event of a
failure by TCSI to turn over the proceeds of Collections to Investor in
accordance with this Agreement, or any other act of fraud or conversion by TCSI.

         8. Servicing Report. TCSI shall deliver a Servicing Report to Investor
on or before the tenth (10th) day of each month.

<PAGE>

                                    EXHIBIT F

                            FORM OF SERVICING REPORT

                              [TO BE ADDED BY TCSI]

<PAGE>

                                   ADDENDUM A
                 DECEMBER 26, 2002 STOCK TRANSACTION TERM SHEET

                              [TO BE ADDED BY TCSI]

<PAGE>

                                   ADDENDUM B

                                [TCSI LETTERHEAD]

Mark Bernier
President and CEO

Thornton Capital Advisors, Inc.
9710 Scranton Road
San Diego, CA 92121

Dear Mark:

         Reference is made herewith to the Revised Term Sheet (the "Stock Term
Sheet") between us and yourselves, dated December 26, 2001 which describes a
potential transaction (the "Stock Transaction").

         Contemporaneously herewith, you and we are executing a Repurchase
Agreement, pursuant to which you will purchase certain Credit Card Receivables
for a price of $8,000,000, subject to certain circumstances under which we will
repurchase those Credit Card Receivables (the "Repurchase"). Capitalized terms
not otherwise defined herein shall have the same meaning as in the Repurchase
Agreement.

         This letter will confirm the following understandings which we have
reached with respect to the Stock Term Sheet in light of the Repurchase
Agreement.

         In the event the Repurchase has not occurred by the time that the Stock
Transaction is consummated, then (a) Investor shall contribute the Credit Card
Receivables and its rights under the Repurchase Agreement to Newco (as defined
in the Stock Term Sheet); and (b) such contribution shall be deemed, to the
extent of then-applicable Repurchase Price, to be a partial satisfaction of
Investor's obligation to deliver cash to CS. Specifically, the $25 million
requirement in the Stock Term Sheet will be deemed to have been funded to the
extent of the Repurchase Price as of the date such Credit Card Receivables are
contributed, and such amount of additional funding will be reduced to $25
million, less such Repurchase Price. In addition, the $18,750,000 requirement in
the Stock Term Sheet for an increase in TCSI net worth will be deemed to have
been satisfied to the extent of the Repurchase Price as of the date such Credit
Card Receivables are contributed, and the amount of additional net worth
contribution shall be reduced to $18,750,000, less such Repurchase Price.

         Upon Investor's contribution of the Credit Card Receivables to Newco,
in accordance with the preceding paragraph, the rights of Investor under the
Repurchase Agreement shall be vested in Newco and shall constitute an
intercompany obligation between us and Newco.

<PAGE>

         This letter will also confirm that the Board of Directors of The Credit
Store has approved the Stock Term Sheet as modified by this letter, and that we
are committed to documenting and closing the Stock Transaction as soon as
possible. Notwithstanding the foregoing, neither party shall have any obligation
to the other with respect to the Stock Transaction until resolution of all
contract matters, completion of due diligence and the execution of formal
contract documents.

                                            Very truly yours,

                                            ------------------------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}]]