MAHWAH, N.J., Aug. 2 /PRNewswire/ -- Advance Auto Parts (NYSE:AAP) has selected Shoppers Charge Accounts Co. (SCA) to administer the private label credit card program for its 35 Western Auto/Advance Auto Parts stores in Puerto Rico.
In connection with the agreement, SCA -- a division of TD Banknorth, N.A. -- also acquired all receivables for the stores' existing private label credit card portfolio from FirstBank of Puerto Rico. The successful conversion of those accounts was completed on July 29.
Headquartered in Roanoke, Va., Advance Auto Parts is the second-largest retailer of automotive parts, batteries, accessories and maintenance items in the United States based on sales and store count. As of April 21, 2007, the company operated 3,150 stores in 40 states, Puerto Rico and the Virgin Islands. The company serves both the do-it-yourself and professional installer markets.
The new Western Auto credit card will offer such special features as '90-days, same-as-cash' and '6 months, same-as-cash' extended payment terms.
About Shoppers Charge Accounts Co. and TD Banknorth, N.A.
Headquartered in Mahwah, N.J., Shoppers Charge Accounts Co. (SCA) ranks among the nation's largest private label credit card companies. A division of TD Banknorth, N.A., the company launches and administers new credit card portfolios for brick-and-mortar, internet and catalog merchants, and acquires retailers' existing credit card portfolios.
TD Banknorth Inc. is a leading banking and financial services company headquartered in Portland, Maine and a wholly-owned subsidiary of TD Bank headquartered in Toronto, Canada. TD Banknorth is one of the 25 largest commercial banking organizations in the United States, with over $40 billion in assets. TD Banknorth's banking subsidiary, TD Banknorth, N.A., operates banking divisions in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Vermont. TD Banknorth and TD Banknorth, N.A. also operate subsidiaries and divisions in insurance, wealth management, merchant services, mortgage banking, government banking, private label credit cards, insurance premium financing and other financial services and offers investment products in association with PrimeVest Financial Services, Inc. For more information, visit http://www.tdbanknorth.com/. DATASOURCE: Shoppers Charge Accounts Co.
CONTACT: Ed Fechner, Senior V.P., SCA, +1-201-818-4000, ext. 3026; or Bill Parness or Lisa Kreda, +1-732-290-0121, of Parness & Associates Public Relations, for SCA Web site: http://www.tdbanknorth.com/
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