TD Bank, America's Most Convenient Bank(R), today announced a multi-year contract extension with Target Corporation (NYSE:TGT), in which TD will continue to be the exclusive issuer of Target co-branded and private label consumer credit cards.
"A decade of partnership has enabled our teams to innovate together and deliver a compelling card program for Target guests," said Chris Fred, Head of U.S. Credit Cards and Unsecured Lending, TD Bank. "We are thrilled to continue our collaborative relationship with Target, a leading retailer that shares our growth mindset and sharp focus on the customer."
Earlier this year, Target and TD expanded the RedCard Mastercard program at the point of sale in Target stores and on Target.com, to originate co-branded cards that offer exceptional value for guests. In addition to industry-leading 5% instant savings available every day at Target, RedCard Mastercard holders can earn 2% on eligible dining and gas purchases and 1% everywhere else.
"RedCard holders are among Target's most engaged guests and have saved more than $9.7 billion over 12 years of Target runs. By deepening our partnership with TD Bank, Target will continue to offer guests meaningful, everyday value through 5% savings, free shipping from Target.com on most items, extended return times and exclusive offers," said Gemma Kubat, President, Financial & Retail Services, Target.
TD first acquired Target's U.S. credit card portfolio in 2013.
About TD Bank, America's Most Convenient Bank(R)
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth(R). TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com/us.
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SOURCE TD Bank