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Article: Minnesota-Based First Bank System and Target Stores in Credit Card Deal.(Originated from Saint Paul Pioneer Press, Minn.)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 4, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jan. 4--Target has teamed up with First Bank System to offer a new Visa credit card that both Minneapolis-based companies think could be a boon for their businesses.
When it's introduced later this month in Indianapolis and Florida, the "Target Rewards Visa" credit card will be the first joint card offered by a major discount retailer. Only a few other major retailers, such as Nordstrom, have similar joint credit cards.
The no-fee credit card will rebate 4 percent of the balance to the charge card customer through Target vouchers, said Ben Crabtree, securities analyst with Piper Jaffray. He thinks the alliance with Target eventually could be a bigger business ...