Creditnet News Story
Target to offer greater rewards on credit cards
Monday, June 28, 2010
By Danielle Robson
Many consumers can get savings on their purchases through rewards programs from their credit card companies, though getting 5 percent off that purchase is rare.
However, Target will offer just that to anyone using a Target credit or debit card starting this fall. According to the company, all purchases made in either Target stores or on the company's website will receive an instant 5 percent discount. The company said it tried out a pilot program for the offer in Kansas City last year, and saw a favorable increase in both sales and profits as a result.
"We believe guests will appreciate the simplicity and compelling value of this program, which will lead them to choose to shop more often at Target," said Gregg Steinhafel, chairman, president and chief executive officer of Target Corporation.
A related article from Consumer Reports said consumers who regularly shop at Target have little reason to not get the card, as saving five cents on every dollar can add up to big savings if they shop there with enough frequency.
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