Review of Target Card



The Target Card was last reviewed on : 16th March 2005

Summary - .The Target Card allows you to enroll in Target's Pharmacy reward. Under this program, you will earn a 10% savings certificate for a day's shopping at Target after you use your Target Card for the first pharmacy purchase. After that, every tenth purchase at Target Pharmacy will earn you a 10% savings certificate. Unlike the Target Visa credit card, the Target Card does not have Target Reward Program privileges.

For every dollar that you spend at Target, 1% will be donated to your designed K-12 school.

The Target Card has no annual fee. The apr is 21% for all states except Illinois and Ohio. For residents in these two states, the apr is 21.60%. The Target Card uses the average daily balance method (including new purchases) of calculating balances and has a 28-31 day grace period.

The Target Card will appeal to the frequent Target shopper. The one negative is that they only pay one point for Target purchases and essentially half point for every dollar spent on other non-Target purchases. Hoever, bear in mind that 1% of Target purchases (and 0.5% for non-Target purchases) goes towards contributing to a K-12 school.

Positives
  • No annual fee


Negatives
  • Only earn one point for every dollar spent on Target purchases


Target Card
Reward Benefits
Reward Formula Enrollment in Pharmacy Reward Program
Earn a 10% savings certificate upon first phamacy purchase at Target
Earn 10% savings certificate after subsequent 10th pharmacy purchase
Other Benefits
See statement online
Cost/Fees/Interest rates
Introductory rate No introductory apr
Annual Fees No annual fee
Purchase APR Fixed rate - 21% except for residents of Illinois and Ohio
21.60% for residents of Illinois and Ohio.
Penalty/Default Rate APR 24.9%
Min Finance Charge $0.50
Grace Period 28-31 days
Balance Calculation Method Average Daily Balance (including new purchases)
Minimum Balance Greater of 2.5% of balance or $10.00
Cash Advance fee 3% of cash amount, min $5.00
Late Payment fee $15.00 - up to $150
$29.00 - $150.01 to $1,000
$35.00 - more than $1,000



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