Posted Wednesday, April 21, 2010 in
Retail Stores/Products
Target announced that it is replacing the Visa credit cards it has offered to customers since 2001 with proprietary Target Credit cards, according to the Minneapolis / St. Paul Business Journal.
The new card will be effective April 29, and will only be accepted at Target stores and Target.com. Customers with current Visa Target cards will not be affected and they will be able to renew with Visa when they expire.
Why the new card? Target said it's to boost retail sales and reduce the amount of receivables the company funds. Plus, tests found that customers using a Target-branded card spent more than those using a Visa card.
>> Read more: Target dumps Visa, will offer its own store credit card - Minneapolis / St. Paul Business Journal
