Target (NYSE:TGT) Again Looking to Sell Credit-Card Receivables

In order to free up capital listed as assets on its balance sheet, Target (NYSE:TGT) is again shopping its credit-card receivables around.

Making the accounting move will free up capital to buy back shares or reduce debt, among other purposes.

Target is working from a stronger position now as past due payments have shrunk from 6.3 percent in December 2009 to 4.2 percent in December 2010.

The giant retailer said they'll maintain control of merchandising, marketing and service operations of the segment.

Target's credit-card receivables portfolio is valued at $6.7 billion.

The company closed Thursday at $55.42, down $0.03, or 0.05 percent.