TD Bank Selected by Ally Bank to Provide New Credit Card Offering

Consumer card program developed exclusively for Ally Bank offers significant cash back rewards

TD Bank’s Credit Card and Merchant Solutions business announced that Ally Bank has selected TD as the issuer of the Ally CashBack Credit Card. Through this collaboration, Ally is able to leverage TD Bank’s expertise in customized card programs and solid track record of successful card relationships.

“Our top considerations for Ally Bank’s first credit card product were providing our customers with a competitive product that reflected the value and service they have come to expect, while also balancing speed to market,” said Diane Morais, Chief Executive Officer and President of Ally Bank. “Our customers wanted a credit card and through our relationship with TD, we were able to deliver a customized solution in a timely manner and expand Ally Bank’s product offerings.”

The Ally CashBack Credit Card offers unique features, including no cap and no expiration on reward earnings, as long as the cardholder’s account is open and in good standing. Additional benefits include accelerated rewards on eligible gas and grocery purchases, and an available 10 percent additional bonus on rewards earned when the cardholder redeems their cash back rewards into an eligible Ally Bank account.

“At TD Bank, we are able to offer companies a supportive, holistic relationship to meet card program objectives, along with the assurance of TD’s legendary customer service,” said Mike Rittler, Head of Retail Card Services at TD Bank. “We work with each company to design a card program that meets their own unique business goals. We are excited that Ally has chosen us to issue their credit card, a card that provides real value to their existing and future customers.”

TD Bank has substantial experience in structuring and implementing a wide variety of highly customized credit card relationships. As a trusted business partner, TD offers a full range of payment processing solutions and payment innovation for all types of businesses.

About TD Bank
TD Cards and Merchant Solutions is a top 10 card issuer in North America with over $24B in card receivables. TD Bank’s credit cards are distributed nationally, leveraging our retail distribution network, direct response channels and through hundreds of partnership programs with financial institutions, retailers and other third party organizations, including private label financing.