Target Corporation announced today that effective April 29th 2010, it would be issuing it own Target Credit Card, a credit product accepted at all Target stores and Target.com. The company said in a statement that it will no longer issue the Target Visa Credit Card to new credit card applicants. Existing Target Visa Credit Card holders will not be affected.
Target said that the move to issue its own Target Credit Card came about following product tests which revealed that guests tend to spend more at Target when issued a Target Credit Card instead of a Target Visa. Consequently, the decision is expected to boost retail sales for Target, while reducing the amount of receivables the company funds.
Target has 29 stores in the Central Florida area.
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