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  • TD Bank (TD) announced a multi-year contract extension with Target Corporation through 2030
  • The Bank will continue to be the exclusive issuer of Target’s co-branded and private label consumer credit cards
  • TD first acquired Target’s U.S. credit card portfolio in 2013
  • TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S
  • Toronto-Dominion Bank (TD) is down 0.51 per cent, trading at C$87.34 per share at 1:36 pm ET

TD Bank (TD) has announced a multi-year contract extension with Target Corporation through 2030.

The Bank will continue to be the exclusive issuer of Target’s co-branded and private label consumer credit cards.

Chris Fred, Head of U.S. Credit Cards and Unsecured Lending at TD Bank, commented on the news.

“A decade of partnership has enabled our teams to innovate together and deliver a compelling card program for Target guests. 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. The program originated co-branded cards that offer exceptional value for guests. In addition to industry-leading 5 per cent instant savings available every day at Target, RedCard Mastercard holders can earn 2 per cent on eligible dining and gas purchases and 1 per cent everywhere else.

Gemma Kubat, President, Financial & Retail Services at Target, also shared her comments.

“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 per cent savings, free shipping from Target.com on most items, extended return times and exclusive offers.”

TD first acquired Target’s U.S. credit card portfolio in 2013.

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S. It provides over 9.8 million customers with a full range of retail, small business and commercial banking products and services. It has more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida.

Toronto-Dominion Bank (TD) is down 0.51 per cent, trading at C$87.34 per share at 1:36 pm ET.


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