Target Complaint - Interest Rates are unreasonable---No grace period!!!! Late Fees are Horrible
When I turned 18, (a few years ago), I opened up a Target Visa account to establish my credit. I am STILL paying off $1000. The interest rate is so high that every time I make a payment, I barely touch the principal. I also found out that if you try to mail your payments, you might as well attach an additional $30.00 for the late fees. I was 2 days late because of the mail service and was charged a thirty dollar late fee. UNWAIVERABLE. I had NEVER been late before and was still charged. Not only that, but was again charged an additional $30 because after the late fee, I was over my credit limit balance. Wow. so pretty much I ended up paying $60 extra dollars JUST because I was 2 days late. Not two days past the 15-30 days most companies give you, but TWO days late. It was due on the 14th, and they received/processed the payment on the 16th. 60 dollars for two days. Oh--and your balance will continue to increase unless you make outrageous payments because the interest is so extreme. I will NEVER use another banking product of Target's again, and have begged people to stay away from their appealing offers. --oh, and once you close your account, somehow they magically send you another card about a year later--REOPENING your account without your authorization. I highly suggest people avoid opening and account with Target Visa.