In March 2009, I moved from Arizona to Florida. Somewhere in the chaos of packing/moving, the March statement for my Target Visa got misplaced. I was unaware of any problem with the account until I tried to use the card to pay a motel bill. The card was rejected. Upon my arrival at my destination, I went online to check into the problem. I had missed the March payment and was duly charged the $39 late fee. I have no problem with the fee.
This account has been open and active since March 1995 (13 years), with a $7, 000 credit limit. According to my three recent credit reports, there has never been a late payment on this account. For the past two (2) years, this account has been paid via electronic funds transfer (“EFT”) through my credit union. Once I was aware of the missed payment, I immediately made a substantial ($400) payment, again through EFT. Soon after this payment, I tried to use the card. It was rejected -- again. I called customer service (I use the term loosely) to find out what the problem was. It seems that a fourteen (14) day hold on my EFT payment (with funds in their possession) was deemed appropriate by management. According to customer service, they had to protect themselves!!! Target’s actions demonstrate the total callous disregard with which they operate and their abuse of responsible, long term, “valued” cardholders -- a $39 late fee, a fourteen day hold on my EFT payment and my credit limit was dropped from $7, 000 to $700 – this demonstrates to me just how valuable my account/business has been to them for the past thirteen years. TOTAL OVERKILL!!!
Obviously, these credit card companies have become so large that their everyday, responsible, bill-paying cardholders don’t matter to them – all management sees are more and higher fees and less time in which to pay!!! Too bad every single Target Visa (Red Card) account couldn’t be closed at the same time, immediately – where would they be then???? Target needs to remember: “what goes around, comes around.” Your “bite in the ###” will come -- as did Mervyns. My account is now closed. This complaint will be posted on every website I can locate that speaks out about (Target) credit card abuse. I will never set foot in another Target store as long as I live and will urge others to do the same. Word of mouth, shabby treatment and abuse speak volumes. I will also inform everybody I meet not to open a credit card account with Target and, if they do, to be very wary of Target’s abusive credit card practices. I hope this information will help others to be informed and avoid Target’s or any other credit card’s abuse.