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Nordstrom Credit Cards Now Backed by TD Bank?


karahop
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The last post in this topic was posted 2572 days ago. 

 

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I stupidly burned Nordstrom during my divorce--as I prioritized paying who, they fell to the bottom of my list although I am a die-hard fan of their products and customer service. Balance is still due and should fall off reports in about 2.5 years. They did not come to an agreement I could handle and I've just been laying low.

 

As I was searching on a different topic about Target's financing, I stumbled upon Nordstrom, along with Target, being high-profile retailers allowing you to have a "debit card" product with them. As I looked on those pages, I saw in fine print, Nordstrom's credit cards are run by TD Bank and their debit card is issued directly from them.

 

 

Bottom line, my question is, now that Nordstrom is being financed by TD Bank instead of their internal Nordstrom bank, do you think I have a shot at another Nordstrom credit card after my existing baddie falls off?

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Actually, Nordstrom Bank (Scottsdale, AZ) sold their entire credit card portfolio to TD Bank USA, N.A. effective 10/01/2015. The sale was somewhat unique in that Nordstrom retained almost complete control over their credit card portfolio. This was essentially an investment by TD Bank, thinking they could earn a desirable return on this portfolio and Nordstrom Bank no longer wanted the credit exposure of owning the portfolio. The customer service is still stellar, because that interface is still 100% Nordstrom.

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