Target Visa This fall, Target Visa will be making its nationwide debut. Phase 1: Auto-Substitution Auto-substitution automatically upgrades existing, qualifying Target Guest Card accounts to Target Visa accounts. Qualifying Target Guest Cardholders do not need to apply for a Target Visa; they will receive a Target Visa in the mail as a replacement for their Target Guest Card. Guests will need to call the toll-free telephone number on the card from their home to activate the account. At that point, their Target Visa is activated and their Target Guest Card is closed. However, once we start selling the card after November 1, if a guest applies and is approved for the Target Visa, they will have to request that their Target Guest Card be closed, unless they want both accounts open. The Target Rewards Program Guests earn points based on the amount of their purchases and the place of their purchases: $1 spent at Target = 1 point $2 spent anywhere else Visa is accepted = 1 point Guests can keep track of their points through their monthly billing statements. When they earn 1,000 points, they will receive a Target Rewards 10% savings certificate valid for one entire purchase at any Target store (not valid at target.com). What happens to Target Guest Card Balances? Balances will transfer to their Target Visa upon activation. Guests receive a final statement on their Target Guest Card instructing them not to pay anything. Soon thereafter, they will receive a Target Visa statement with their previous Target Guest Card balance on it, as well as any new purchases. The new interest rate will be applied to carried-over balances.