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Target has dropped their Target Visa card in favor of a Target card to be used exclusively in their stores. They did this to raise their profits on credit card purchases. Target does still allow purchases with a regular Visa card, though.

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Q: Why did Target drop support for Visa cards?
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Continue Learning about Finance

Should credit debit cards replace money?

Not always. There are times when it is easier to drop change into a meter than to put a debit card in a slot. Debit cards can have a fee. Debit cards can be subject to identity theft. Debit cards can be counterfeited. People who use debit cards often don't know how much they have in their account and can overspend their money and get into debt very fast. Debit cards have their place in place of money, but, there are some times when paying for items with cash and coin is the better way.


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Late payments, No-Payments, Over the credit limit (Maxed out credit cards), Not having a good mixture of credit (Revolving Account, Installment Loan, Home Loan, Etc), and past history.


Does canceling one's credit cards affect one's credit rating?

This will all depend on how old the account is. Regardless, you will notice that your score will drop a few points, but it's nothing to worry about, since you can build it up over time.


All credit cards charge interest what can you do to reduce the costs of paying interest?

The easiest thing you can do to reduce the amount of interest you incur to your credit card is to pay the bill as soon as you get it. You can also try asking the credit card company to drop your rate.


Is it bad for your credit to cancel credit cards?

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