WAL-MART MOVES INTO CREDIT BUSINESS
By Adnews Staff
Wal-Mart Canada of Mississauga, Ont. and the Toronto Dominion Bank have teamed up to introduce a co-branded Visa credit card. Available this week, the credit card will have an introductory interest rate of 6.88%. Its regular interest rate will be 14.48%. Other features include no annual fee, the TD Diner's Privilege program which offers 15% of meals at participating restaurants, $200,000 in travel accident insurance, credit balance interest, free supplementary cards, as well as instant cash access and 24-hour banking at automated banking machines. The design on the card will feature a bright sun rising behind a globe of the world. Customers can apply for the card by calling a 1-800 number. Applications will also be available at Wal-Mart locations and TD branches. Wal-Mart will promote the card using TV ads handled by Publicis SMW of Toronto, as well as flyers and in-store signs created in-house. Over the past couple of months, TD has set up branches in 15 Wal-Mart outlets. Wal-Mart has 149 stores across Canada.