Target Compliment - Target Visa Does Not Charge Over Limit Fee if Interest Causes Account to go Over Limit.
NATIONWIDE -- Target Visa appears in Consumer Reports as one of the “Top 10 Customer Friendly Banks” for credit card holders. Target Visa has proven this by not charging my account an over limit fee because of their interest charges taking the account over the limit. I received my Target Visa statement in the mail yesterday. The account balance, prior to billing, was $995. My ending statement balance was $1,005.43. The finance charges were $10.03. Target did not take advantage of the over limit situation and tack on an over limit fee since the interest charge caused the account to be over limit by $5.43. I have to give Target Visa high honors for not exploiting their cardholders by charging over limit fees because the interest put the account over limit.
The only downfall to the Target Visa credit card is that Target is very conservative and stingy with their credit limits. I have great credit, several credit cards with high limits but Target would only approve me for $1,000 and they will not increase my limit. I have heard / seen this same complaint with other people too.