Target Credit Card Review

Here's my review of the Target credit card (Called the REDcard; it's a Visa). 

So you already know that I typically hate store-branded credit cards... most of them are simply inferior (high interest rates, limited promotional APR or none at all) and not so great in the rewards department, either.

So is the Target VISA credit card good, or is it lame like most others? Good question.

Here's my take: I actually like this one. Yes, the interest rate is relatively high (23.24% APR), and there is no 0% promotional APR intro period, ouch! But this does not matter so long as you pay off your entire balance in full each month before the due date.

If you are a Target regular shopper, this could be a no-brainer way to rack up some rewards and save a bit of money shopping there.

Also, I have to give Target a substantial amount of credit for having an HONEST and simple web site. Right on the credit card site is a link called "REDcards: Rates and Fees." You don't have to fill out any information to see -- in English language, not legalese -- the interest rates and fees associated with their VISA card. That rocks. I love transparency when it comes to credit card agreements.

So I would tell you to get this card... only if you shop at Target a lot, and only if you pay your balance in full each month (so you'll take advantage of the grace period offered and will not pay any interest).

If you don't plan to pay off your balance in full every month, you should look elsewhere: find a credit card that offers a long 0% intro APR period.