TD Bank, Target Extend U.S. Credit-Card Partnership Through 2030
22 September 2022 - 12:30AM
Dow Jones News
By Glenn Johnson
TD Bank NA said Wednesday it has reached an eight-year contract
extension with Target Corp. to continue as the exclusive issuer of
the retailer's co-branded and private label consumer credit
cards.
TD first acquired Target's U.S. credit-card portfolio in 2013
and is expected to carry on in that role until 2030, the companies
said Wednesday.
The extension comes after Target and TD Bank earlier this year
expanded Target's in-house credit card, the RedCard Mastercard, to
originate co-branded cards. In addition to offering 5% savings at
Target, the co-branded cards offer discounts on eligible dining,
gas and other purchases.
TD Bank, a subsidiary of Toronto-Dominion Bank, is one of the
ten largest U.S. banks, with nearly 10 million customers.
Write to Glenn Johnson at glenn.johnson@wsj.com
(END) Dow Jones Newswires
September 21, 2022 10:15 ET (14:15 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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