Nordstrom sells credit card portfolio to TD Bank Group
Nordstrom agreed to sell its existing U.S. Visa and private label consumer credit card portfolio to TD Bank Group. TD Bank also signed an agreement with Nordstrom to become the exclusive U.S. issuer of Nordstrom Visa and private label credit cards in the U.S.
Nordstrom customers will not experience big changes because Nordstrom will continue to manage customer service for the cards. The retailer will also continue to fund and manage the Nordstrom Rewards loyalty program, Nordstrom debit cards, and Nordstrom employee accounts. The terms of retailer’s loyalty program will remain unchanged as well.
The process started a year ago and expected to come to an end in the second half of 2015. For Nordstrom it means getting out of business of financing its customers in order to focus on online business, stores renovation and expansion of its discount franchise. As for TD, this great partnership and collaboration will boost the growth of their North American credit card business.
This is the second U.S. card deal for TD Bank. Earlier, in 2013, it acquired the credit-card balances from Target Corp.
Latest Other Card News
A virtual credit card is a unique credit card number that is linked to your main credit card account but is different from the physical card number. The virtual credit card number allows to shop online or over the phone without using your physical credit card. The numbers can usually be used once and expire if not used. The cardholders can also delete the numbers if they want or need to.
Credit scores and credit reports have become an integrate part of our lives and financial health. There are a lot of services that allow to check credit reports online and FreeCreditReport.com is one of them. FreeCreditReport.com is owned and operated by Experian, one of the three major credit bureaus in the U.S. The service provides […]
If your wallet is bulging with store loyalty cards, there’s good news for you from Samsung Pay. The most widely accepted mobile digital wallet system in the United States is now allowing users to upload their store membership and rewards cards onto their Samsung Galaxy smartphones.
Identity theft and banking fraud concern more and more Americans, according to a recent FICO survey. And that is not a surprise as credit card fraud continues to grow, especially online fraud.
There is no foolproof way to protect yourself from fraud, but there are a few things you can do. The first and foremost thing you should do is never ever give your credit or debit card information to someone you do not know.
Springtime is the season for house hunting, but many people planning to move this year say they’ll rent, not buy, their new digs.
