Private-label retail card issuer TD Retail Card Services on July 21 announced the Renovate Card, a store credit card specifically designed for independent home-furnishings retailers.
The Mahwah, N.J.-based unit of TD Bank N.A. will provide private-label credit card services to participating retailers, along with in-store signage and marketing materials crafted for the furniture and home-furnishings sector. Merchants joining the program may have their stores’ names embossed on the card alongside the Renovate brand, the company says.
TD Retail Card crafted the program for independent home-furnishings merchants that “may not generate the sales volume to justify a private-label program of their own,” Marc Sczesnak, TD Retail Card Services president, said in a statement.
The Renovate Card is the latest in a series of announcements over the past two years in which the issuer has steadily expanded its store card financing offerings for merchants involved in high-ticket purchases, such as jewelry, building materials and furniture.
TD Retail Card Services in January took over a private-label card program of Rooms to Go, a 130-store furniture chain based in Seffner, Fla. And last month the company announced it has won a contract to provide private-label credit card services for Tourneau LLC, a 42-store upscale watch chain based in New York.
Founded in 1937, the private-label credit company was acquired by TD Bank N.A. in 2006 and in 2008 changed its name from Shoppers Charge Accounts Co.
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