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The bloggers at Consumer Reports are having fun trying to figure out how Target's new return policy works. While they acknowledge that the changes represent a net improvement for customers, the new process is "far more complicated and less consumer-friendly than Wal-Mart's."

Target previously had a "hidden return policy" that would let shoppers make two returns without a receipt over the course of a year, up to $35 each. Now, shoppers can make as many non-receipt returns as they want, at a higher limit of $70. Another improvement: Gift registry listings can serve as "de facto receipts" for gift recipients.

But then it gets complex:

One of the biggest changes affects holiday gifts. Target allows for even exchanges if you've exceeded your $70 return limit. So if Aunt Minnie gave you a shirt in "large" but you're a "medium," you can exchange it without a hassle, even if she tossed the receipt. In the past, if you had reached your non-receipt returns limit, you couldn't exchange the shirt, even with Target tags intact.

If you decide to exchange the returned item for something that costs less, Target will give you a gift card for the difference. But you'll have to use it in the same department.

In all these cases, you'll have to show a driver's license or some other identification so Target can record your non-receipt transgressions.

Too complicated? We think so.

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