Target - Excessive interest rate charges and fees

Posted by JISCal2 on 2012-07-28:

That's the thing about credit cards these days. There are no grace periods. Once you are late you are late and they have no sense of compassion. They will charge you fee's, raise your interest rate and very few of these companies (if any) will consider reversing the decision. I see their point because business is business and they are in the business of making money, but there is no reason for rudeness.

Posted by annars on 2012-07-29:

Even 'they' the "bank" HAD TO AGREE THAT I ALWAYS PAID MORE THAN OWED AND ON TIME. BUT THAT DOESN'T MATER THAT I HAVE PAID 5-6 TIMES THE AMOUNT OWED, IN INTEREST RATES ALONE AND THAT HAPPENED BASICALLY AFTER THE 'COLLAPSE' OF THE OBAMA BANKING BUSINESS.
I EVEN ATTEMPTED TO PAY THE CASH VALUE OFF, PRIOR TO ALL THIS AND I WAS TOLD THAT THAT WASN'T POSSIBLE. i owed something like 12.00 at that time and now some ten years later I still owe $1.73 and that is at a different rate of interest. Also at my age, who cares about credit. The people who know me don't that is for sure.. As i stated I'll be dead and gone before they will get their account paid..............

Posted by madconsumer on 2012-07-29:

very helpful comment annars and voted as such!

Posted by CowboyFan on 2012-07-30:

Fifteen years ago this happened to me, because I was late and I learned from it. That is the lesson to take from this.

First, until recently the minimum payment due did not even pay the interest charges for the month. When the OP says paid more than the minimum, does that mean $50 on a $35.00 minimum or an extra $500.00? It is obvious that all this time, she paid only the interest, not any on the principle.

Closing the account has never meant no more interest or fees were due. It only means the interest rate was frozen at the then current rate, if you continued to make the minimum payments.

Finally, when I get near the end of paying a credit card off, I always pay a few dollars ($10.00) extra. That way the next statement has a credit (or negative balance) and will continue to have one for a few months, until they send me a check for the credit amount.

Posted by annars on 2012-07-30:

They will not even tell me What is owed,or what I am paying on and have never responded to my requests for information. Like paying off the cash part of the gill. but they are charging 2 rates of interest on this balance And How can I owe more now than the original charges were in 2002.I am not a banker but I have never had this type of problem with ANY credit card company...

Posted by annars on 2012-07-30:

to cowboy fan, That is exactly what I had been doing and, it hasn't worked at all. Most of the time I was paying $50 to $100 dollars more, on an account that would never end as I look at it... and especially when the amount owed at this point is more than the original charges by a few thousand DOLLARS, AT LEAST ACCORDING TO WHAT I HAVE PAID..

Posted by dyna890 on 2012-09-10:

Target Store
Maplewood,MN
I bought a bicycle on sale at Target store. I do not drive. 29 days later the pedal stripped off and I almost killed myself while this happened.I called my local bike shop and found out it would cost me Fifty dollars to fix the problem. Called the Target store where I purchased the bike. The customer service rep was rude and in a nasty mood. She told me that since I hadn;t purchased the additional 2 year service policy for "issues of repair" i could not get my money returned to me. That Target would try to repair it first. That their policy was just this. Remember my purchase had not even been 30 days old. I raised heck and had to go through 3 different reps before having my money returned. Sometimes you have to become angry to get justice.