Item 7.01 Regulation FD Disclosure.

On December 15, 2009, Alliance Data Systems Corporation provided to market analysts an IR Update announcing that its Epsilon business has signed an expansion agreement with Capital One Financial Corporation to support its No Hassle RewardsSM customer loyalty program. A copy of this IR Update is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 IR Update dated December 15, 2009 announcing an agreement with Capital One Financial Corporation.

Note: The information contained in this report (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.

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