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CHERRY HILL, N.J., Sept. 21, 2022 /PRNewswire/ -- TD Bank, America's Most Convenient Bank®, 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.
