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Target Store Card conversion to Visa?


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I remember a few years back Target sold half of their portfolio to Chase. Then last year sold the rest to TD.

 

I don't know who bought which accounts, but I was wondering is anyone had success with converting a store card to a Visa?

 

I have the Store Card @ $2,900... & I would sure like a higher CL, & I think the Visa conversion is the only way that could be possible.

 

Thanks

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They sold a 50% interest in the portfolio to Chase a few years ago when an activist investor got involved. They ended up selling an interest in the whole thing - not individual accounts. They then bought out Chase and sold the entire portfolio to TD earlier this year.

 

When Target launched in Canada, they also launched Canadian cards with TD's competitor RBS - the red card in Canada is only offered as a co-branded MasterCard. They also offer a debit card like they do here in the US but Target runs that.

 

Haven't heard any news or rumblings from TD about what their long term plans are - but for the time being, Target continues to manage and service the accounts on their platform while TD controls risk and pricing.

 

If/when you see the accounts convert to TD's platform (like what Citi did with the BestBuy accounts) then I would expect them to want to move these to co-brand to generate more revenue. I make that assumption based on what TD said when they bought the portfolio:

 

Ed Clark, group president and chief executive of the TD Bank Group, said that the agreement would “significantly expand our presence in the North American credit card business and will establish TD as a key player in the space.”

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They sold a 50% interest in the portfolio to Chase a few years ago when an activist investor got involved. They ended up selling an interest in the whole thing - not individual accounts. They then bought out Chase and sold the entire portfolio to TD earlier this year.

 

When Target launched in Canada, they also launched Canadian cards with TD's competitor RBS - the red card in Canada is only offered as a co-branded MasterCard. They also offer a debit card like they do here in the US but Target runs that.

 

Haven't heard any news or rumblings from TD about what their long term plans are - but for the time being, Target continues to manage and service the accounts on their platform while TD controls risk and pricing.

 

If/when you see the accounts convert to TD's platform (like what Citi did with the BestBuy accounts) then I would expect them to want to move these to co-brand to generate more revenue. I make that assumption based on what TD said when they bought the portfolio:

 

Ed Clark, group president and chief executive of the TD Bank Group, said that the agreement would “significantly expand our presence in the North American credit card business and will establish TD as a key player in the space.”

That is one thing that I love about forums. You get such a broad spectrum of people that all have a common interest. There is always someone who knows something about every topic.

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They sold a 50% interest in the portfolio to Chase a few years ago when an activist investor got involved. They ended up selling an interest in the whole thing - not individual accounts. They then bought out Chase and sold the entire portfolio to TD earlier this year.

 

When Target launched in Canada, they also launched Canadian cards with TD's competitor RBS - the red card in Canada is only offered as a co-branded MasterCard. They also offer a debit card like they do here in the US but Target runs that.

 

Haven't heard any news or rumblings from TD about what their long term plans are - but for the time being, Target continues to manage and service the accounts on their platform while TD controls risk and pricing.

 

If/when you see the accounts convert to TD's platform (like what Citi did with the BestBuy accounts) then I would expect them to want to move these to co-brand to generate more revenue. I make that assumption based on what TD said when they bought the portfolio:

 

 

 

Ed Clark, group president and chief executive of the TD Bank Group, said that the agreement would significantly expand our presence in the North American credit card business and will establish TD as a key player in the space.

That is one thing that I love about forums. You get such a broad spectrum of people that all have a common interest. There is always someone who knows something about every topic.
Agree. We know everything. :) The poster meant RBC (Royal Bank of Canada) not RBS, which I interpret as Royal Bank of Scotland group. Edited by Burgerwars
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I am stuck at 1k !

Four years!

 

I'm wondering how one could spend more than that at Target in one billing cycle. :P

Oh, it can be done...just ask my DW :lol:

I don't think I've spent a thousand dollars at Target in the last three years combined. And I like the store...

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Thanks everyone for your knowledgeable insight. I don't spend more than my $2900 CL @ Target, & I don't plan on it. I was just asking because Pops has a Target Visa w/ a $20K CL.

 

So I thought it couldn't hurt to try & convert it, if the potential credit limit was 1000% higher :)

 

Thanks again, back in the sock drawer she goes!

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