That would be interesting if that sell went through...personally Im thinking about closing my target card because I dont use it all that much...my wife uses it more than I do...Id rather her use my NFL Visa there so I can get the points...Targets point system sucks...for every $1000 you spend you get 10% off on your next purchase which has to be on your target card? Give me a break.

Smcc, So far it appears that Target will either sell of its store card or Visa card completely. My guess is that it will be the Visa. Target will still be able to track in store purchases for the reward benefit. It's still too early to see because Target National Bank has not released the terms of the deal.

Thank God I closed them. I wonder if they are going to close accounts that does not qualify for the new bank standards.
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Hey Finance Globe I work for a company that processes Credit/Debit card Transactions for Banks, Companies, etc.. Are they selling the accounts or do they want an outside source to process the transactions? Why not out source all their credit card transactions and free up the funds to do whatever?

I know that Target is a huge topic on this site, so I thought that this will be a good topic. It just hit the streets today that Target (National Bank) may sell around half of its credit card accounts to an undisclosed company/bank.

[Excerpt:] Target Corp., the second-biggest U.S. discount retailer, said it's in talks to sell about half of its credit-card loans for $4 billion.

Selling part of the $8.3 billion loan portfolio would give Target cash to build stores and buy some of the $10 billion of stock it plans to repurchase, spokeswoman Lena Michaud said in an interview today. The company didn't name the potential buyer. Target rose 1.8 percent after U.S. markets closed.
http://www.bloomberg.com/apps/news?pid=20601103&sid=azYjQ7BhIiSY&refer=us