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Advance Auto Selects Shopper Charge Accounts to Administer Private Label Credit Card Program for 35 Stores in Puerto Rico
August 3, 2007
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MAHWAH, NJ -- Advance Auto Parts 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.

The new Western Auto credit card will offer features such as "90-days, same-as-cash" and "6 months, same-as-cash" extended payment terms.

SCA is headquartered in Mahwah, NJ, and 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 banking and financial services company headquartered in Portland, ME, 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 more than $40 billion in assets.