Review of Target Visa Credit Card



The Target Visa credit card was last reviewed on : 16th March 2005

Summary - .The Target Visa credit card allows you to earn one point for every dollar spent at Target stores. You earn one point for every two dollars you spend on other purchases. Once you have accumulated 1,000 points, you will be given a certicate that entiles you to a 10% savings for a day's shopping at Target. (certain items are excluded). You can only receive one certificate in a month. Unused points are rolled over. You can also enroll in Target's Pharmacy reward. Under this program, you will earn a 10% savings certificate for a day's shoppoing at Target after you use your Target Visa credit card for the first pharmacy purchase. After that, every tenth purchase at Target Pharmacy will earn you a 10% savings certificate.

For every dollar that you spend at Target, 1% will be donated to your designed K-12 school. For every dollar that you spend on non-targert purchases, 0.50% will be donated instead.

The Target Visa credit card has no annual fee. There are four apr ranging from 9.90% to 18.90%. The apr you get will depend on the issuers' assessment of your credit profile. The Target Visa uses the average daily balance method (including new purchases) of calculating balances and has a 25 day grace period if your previous is paid in full.

The Target Visa 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. However, 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 Visa Credit Card
Reward Benefits
Target Reward Formula Earn 1 point for every dollar spent on purchases at Target
Earn 1 point for every $2 spent on other purchases
Caps on points Get a 10% savings certificate once you have accumulated 1,000 points. You can only get one savings certificate in a billing cylce. Unused points are rolled over.
Target Pharmacy Reward Formula Get a 10% savings certificate upon first pharmacy purchase
Get 10% savings certificate after every 10th purchase at Target Pharmacy.
Other Benefits
Manage account online
Cost/Fees/Interest rates
Introductory rate No introductory apr
Annual Fees No annual fee
Purchase APR Fixed rate - 9.90%, 12.90%, 15.90% or 18.90%
Cash Advance APR 21.90%
Penalty/Default Rate APR 24.9%
Min Finance Charge $1.00
Grace Period 25 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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