Target CEO Issues Formal Apology, Offers 10 Percent Discount and Credit Card Monitoring for Redcard Deadlock Fiasco (VIDEO)

Target's chief executive has issued an official apology for last week's enormous security blunder that left many customers' accounts deadlocked.

CEO Gregg Steinhafel said that the Minneapolis-based company is currently offering a 10 percent discount this weekend, in addition to free credit monitoring services.

"The issue has been identified and eliminated," Steinhafel wrote in a press release, according to the Minneapolis/Saint Paul Journal. "We recognize this has been confusing and disruptive during an already busy holiday season. Our guests' trust is our top priority at Target and we are committed to making this right."

Customers can use a one-time discount in United States locations. Any credit or debit card fraud brought on by the deadlock won't fall upon the shoppers, according to Steinhafel's statement.

The company's Redcard users couldn't sign into their accounts last week and phone lines failed while customers tried to cancel credit cards they'd opened with Target.

"We understand it's been difficult for some guests to reach us via our website and call center," Steinhafel wrote. "We apologize and want you to understand that we are experiencing unprecedented call volume."

Steinhafel posted a four-part apology video following the fiasco, shown below.




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