Review of Target Red Card Visa

The Target Visa credit card was last reviewed on : 6th September 200

Reward Formula - .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 certificate that entitles 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 shopping 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-target purchases, 0.50% will be donated instead.

Fees and Rates - The Target Red Card Visa has no annual fee. There are four apr ranging from prime rate plus 4.99%, 7.99%, 10.99% or 13.99%. 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.

Verdict - The Target Red Card 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 and that you are contributing to a good cause.

For those who want to better rounded credit card where you can earn rewards and use them at places other than Target should consider the Chase Flexible Rewards Platinum Visa® Card. This card allows you to earn one point for every dollar you spend on the card. You can redeem points for gift certificates at Target and for many other travel and shopping reward products as well.

Positives