**UNITEDSTATESSECURITIES AND EXCHANGE COMMISSION**

**Washington,D.C. 20549**

 

**FORM 10-K/A**

 

AMENDMENT NO. 1 TOANNUAL REPORT PURSUANT TO SECTION 13 OR15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscalyear ended January 3, 2004

 

**Commissionfile number  0-26930**

 

**TARGETCREDIT CARD MASTER TRUST**

(Issuer of theCertificates)

 

**TARGETRECEIVABLES CORPORATION**

(Originator of theTrust Described Herein)

(Exact name ofRegistrant as Specified in its Charter)

 
| Minnesota                                   |   | 41-1812153                |
|---------------------------------------------|--------|---------------------------|
| (State of  Incorporation)                   |   | (I.R.S. Employer  ID No.) |
|                                        |   |                      |
| 1000 Nicollet  Mall, 31st Floor, Suite 3136 |   |                      |
| Minneapolis,  Minnesota                     |   | 55403                     |
| (Address of  principal executive offices)   |   | (Zip Code)                |

 

Registrant’stelephone number, including area code:  612/696-3102

Securitiesregistered pursuant to Section 12(b) of the Act:    None

Securitiesregistered pursuant to Section 12(g) of the Act:

 

5.90% Class AAsset Backed Certificates, Series 1998-1

Floating RateClass A Asset Backed Certificates, Series 2001-1

Floating RateClass A Asset Backed Certificates, Series 2002-1

(Title of Class)

 

Indicate by check markwhether the registrant (1) has filed all reports required to be filed bySection 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for thepast 90 days.  Yes X  No __

 

Indicate by check markwhether the registrant is an accelerated filer (as defined in Exchange Act Rule12b-2).  Yes __  No X

 

The registrant has novoting stock or non-voting common equity held by non-affiliates and meets theconditions set forth in General Instruction I(1)(a) and (b) of Form 10-K.  Disclosure pursuant to Item 405 of RegulationS-K is not required.

 

 

Explanatory Note:

 

Registrant isfiling Amendment No. 1 to its Annual Report on Form 10-K for its fiscal yearended January 3, 2004 (originally filed with the Securities and ExchangeCommission on March 22, 2004).  AmendmentNo. 1 includes information which was omitted in the original filing under Item15.  The following data has been amended:

 

•                  Information Regarding Interest andPrincipal Distributed (Stated on the Basis of $1,000 Original Principal Amount)for Series 1998-1 [sections (A)(1) and (A)(3) of Exhibit 99.2]

 

•                  Principal Receivables in the Trust[section (B)(4)(a) of Exhibit 99.2]

 

•                  Delinquent Balances [section (B)(5)of Exhibit 99.2]

 

The complete textof Item 15 and the Exhibit Index, including a re-executed certification, isincluded pursuant to Rule 12b-15 under the Securities Act of 1934, as amended. AmendmentNo. 1 does not update any other disclosures to reflect developments since theoriginal date of filing.  Unaffected Itemshave not been repeated in Amendment No. 1, and no other changes have been made.

 

 

**SIGNATURES**

 

Pursuant to therequirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, theregistrant has duly caused this report to be signed on its behalf by theundersigned, thereunto duly authorized.

 
|               |   | TARGET RECEIVABLES  CORPORATION |
|--------------------|--------|---------------------------------|
|               |   |                            |
|               |   |                            |
| Dated: May 6, 2005 |   | By                              | /s/ Douglas A.  Scovanner |
|               |   | Douglas  A. Scovanner,          |
|               |   | President  and Director         |

 

Pursuant to therequirements of the Securities Exchange Act of 1934, this report has beensigned below by the following persons on behalf of Target ReceivablesCorporation and in the capacities and on the dates indicated.

 
| **Signature**                                   | **Title**                                                              | **Date**    |
|-------------------------------------------------|------------------------------------------------------------------------|-------------|
|                                            |                                                                   |        |
|                                            |                                                                   |        |
| /s/ Douglas A.  Scovanner  Douglas A. Scovanner | President and Director  (Principal Accounting  Officer)                | May 6, 2005 |
|                                            |                                                                   |        |
|                                            |                                                                   |        |
| /s/ Sara J. Ross  Sara J. Ross                  | Vice President, Treasurer  and Director (Principal  Financial Officer) | May 6, 2005 |
|                                            |                                                                   |        |
|                                            |                                                                   |        |
| /s/ Terrence J. Scully  Terrence J. Scully      | Vice President and Director                                            | May 6, 2005 |

 

 

**EXHIBITINDEX**

 
| **Exhibit No.** |   | **Exhibit**                                                                                                             |
|-----------------|--------|-------------------------------------------------------------------------------------------------------------------------|
|            |   |                                                                                                                    |
| 31.1            |   | Certification                                                                                                           |
|            |   |                                                                                                                    |
| 99.1            |   | Annual Servicer’s  Certificate for the year ended January 3, 2004, Series 1998-1, Series 2001-1  and Series 2002-1 |
|            |   |                                                                                                                    |
| 99.2            |   | Annual  Certificateholders’ Statement for the year ended January 3, 2004, Series  1998-1                           |
|            |   |                                                                                                                    |
| 99.3            |   | Annual Certificateholders’  Statement for the year ended January 3, 2004, Series 2001-1                            |
|            |   |                                                                                                                    |
| 99.4            |   | Annual  Certificateholders’ Statement for the year ended January 3, 2004, Series  2002-1                           |
|            |   |                                                                                                                    |
| 99.5            |   | Report of Independent  Accountants                                                                                      |
|            |   |                                                                                                                    |
| 99.6            |   | Report of Management on  Compliance                                                                                     |