Target to stop issuing Visa credit cards

Target Corp. said Tuesday it will stop issuing Target Visa credit cards and instead issue Target credit cards to qualified applicants.

The change will not affect current Target Visa cardholders, who will be able to keep using their cards.

The discount giant said it decided to stop issuing the Visa cards after product research showed the Target credit card drove more sales.

"We saw that guests who received a Target credit card who otherwise would have received a Target Visa visited Target more often and spent more at Target than the Target Visa holders," said Eric Hausman, a Target spokesman.

Customers who would have been eligible for the Target Visa card will be able to get the Target credit card instead, Hausman said.

Target has been issuing Target Visa cards since 2001 and Target credit cards since 1995. The company will stop issuing the Visa cards April 29.