Inside info on Target Visa!!!!

Discussion in 'Credit Talk' started by Erica, Sep 6, 2001.

  1. Erica

    Erica Well-Known Member

    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

    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.
  2. matty61184

    matty61184 Well-Known Member

    Do you have any details on what a "qualifying" account is?
  3. Hope

    Hope Well-Known Member

    Erica, you amaze me! Wow! Thanks for the inside scoop.
  4. Erica

    Erica Well-Known Member

    All I have is what I got in the brochure from work. We are currently in Phase I of the rollout. More towards the end of September when Phase II rolls out.
  5. matty61184

    matty61184 Well-Known Member

    What would Phase II be?
  6. Erica

    Erica Well-Known Member

    Not too sure, but I think it is this:

    auto-substitution continues. Keep selling Target Guest Card and recognize the new Target Visa as an acceptable form of payment.
  7. brad

    brad Well-Known Member

    Erica,do you think that a 10.00 credit line with Target will get me a Visa card?Also would like to know if that Target card puts you in prime territory?
  8. Erica

    Erica Well-Known Member

    I doubt that 10.00 is enough of a credit line to get you a Visa. You can't even charge a stick of gum with that credit line without going over the limit.

    The APR is between 9.9% and 18.9%. I don't have any prime cards, so I don't know if that is prime or not.

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