FYI about Target
Started by
KristofsMom
, Jun 27 2012 03:41 PM
24 replies to this topic
#1
Posted 27 June 2012 - 03:41 PM
I was told today... before applying! They will NO longer accept Commercial applications without a PG! That is the new policy! I wanted to share this so CB'ers don't waste time
#2
Posted 27 June 2012 - 05:39 PM
Was just looking at - http://targetcommercialinteriors.com - earlier in the week. Not sure if they take the Target card, I imagine they would. Would of been nice if no PG was needed. 
#3
Posted 27 June 2012 - 09:39 PM
They have always been super hard to get to begin with..
#4
Posted 02 July 2012 - 08:51 PM
I was told today... before applying! They will NO longer accept Commercial applications without a PG! That is the new policy! I wanted to share this so CB'ers don't waste time
I think PG has always been required for Target. They provide their own credit, so I can see why they would want to limit their risk.
FWIW, I asked for our first ever CLI from Target Friday. Originally got $1000 when the account was opened in 2006, cut to $600 in 2008 due to the credit crunch and low usage. However, since they switched from the 10% off for a day to 5% off all the time and free shipping from the website, I use the hell out of the card. I asked for $1,500 but I should've asked for $5k since they ended up puling both Experian business and personal. I hate to waste two inq's for such a small line. It will definitely get used though.
Anyone know if I ask for another CLI in December are they likely to do two hard pulls again?
#5
Posted 02 July 2012 - 09:04 PM
Of course they will do a hard pull again.. With business credit always ask for more then you need or want!
#6
Posted 04 July 2012 - 01:09 PM
I applied last week, and called - they indicated wait until the following week for decision.
#7
Posted 05 July 2012 - 09:05 AM
I called earlier this morning, my application was declined. They indicated I would receive a latter as to why the application was not approved. I'll post once I know.
#8
Posted 05 July 2012 - 12:37 PM
Hello,
If you are doing business as an LLC this is one reason for being declined. I applied for credit with them a while ago and they do not give credit lines to LLCs only Corporations. I know it sounds crazy but this is directly from Target Bank.
Good Luck
If you are doing business as an LLC this is one reason for being declined. I applied for credit with them a while ago and they do not give credit lines to LLCs only Corporations. I know it sounds crazy but this is directly from Target Bank.
Good Luck
#9
Posted 05 July 2012 - 12:42 PM
dconawa -- Interesting. I just called and spoke with an underwriter, she indicated my Experian for Business credit report did not meet Target standards.
I just pulled my Experian for Business credit report, my score is 79 (Low Risk), 0 days DBT, 9 Trades reporting, in file since 2008, Inc 2011, 180k sales, no dereog items.
Not sure what the issue is, guess I'll have to wait for the letter.
I just pulled my Experian for Business credit report, my score is 79 (Low Risk), 0 days DBT, 9 Trades reporting, in file since 2008, Inc 2011, 180k sales, no dereog items.
Not sure what the issue is, guess I'll have to wait for the letter.
#10
Posted 05 July 2012 - 06:41 PM
dconawa -- Interesting. I just called and spoke with an underwriter, she indicated my Experian for Business credit report did not meet Target standards.
I just pulled my Experian for Business credit report, my score is 79 (Low Risk), 0 days DBT, 9 Trades reporting, in file since 2008, Inc 2011, 180k sales, no dereog items.
Not sure what the issue is, guess I'll have to wait for the letter.
Haven't been in business long enough for them.. They like to see years and years in business and the sales may be to low also.
#11
Posted 06 July 2012 - 08:26 AM
I've been in busines since 2001 and it is document, the sales reported by EX Business are 180k. Until the last few years, did everyone with either cash or personal credit.
#12
Posted 06 July 2012 - 09:50 AM
Did you PG or cross that out?
#13
Posted 06 July 2012 - 10:57 AM
I've been in busines since 2001 and it is document, the sales reported by EX Business are 180k. Until the last few years, did everyone with either cash or personal credit.
Yes but you just Incorporated last year.. Some will go just off that date.. Some creditors dont consider anything besides a corp or llc as a real business.
#14
Posted 06 July 2012 - 12:54 PM
It's all about your files people. Strong business credit files with high payment reference and no lates are essential to getting approved. No baddies on the personal as well. Make sure that you business credit files have all the correct or accurate company information.
#15
Posted 06 July 2012 - 09:26 PM
Target requires even more then that.. They want you to come on down and kiss their feet! 
#16
Posted 06 July 2012 - 09:38 PM
Target requires even more then that.. They want you to come on down and kiss their feet!
Unbelievable. I bet it's much easier to get a personal credit account with them than it is to get a small business account. Crazy!
#17
Posted 09 July 2012 - 11:44 AM
I was required to PG the application. They indicated it was my business credit which did not meet their requirements.
#18
Posted 09 July 2012 - 09:05 PM
Target requires even more then that.. They want you to come on down and kiss their feet!
Unbelievable. I bet it's much easier to get a personal credit account with them than it is to get a small business account. Crazy!
This is very true.. I know a few people with bad credit who got approved with them, very low limits but still approved.. Not sure why they would factor your business over your personal credit it's usually the other way around. Any one even know if they report?
#19
Posted 13 July 2012 - 06:41 AM
What are the minimum years in business allowed for them?
#20
Posted 13 July 2012 - 04:02 PM
At least 5+ years.. and a very very thick file
#21
Posted 13 July 2012 - 05:56 PM
Yea. Target is one of the tougher business credit accounts to get. It's all about your file people.
#22
Posted 17 July 2012 - 07:02 AM
I received my decline letter yesterday, more issues on my Personal EX bureau including AAoA, which is over 5 years.... EX Score 734.... They also did not like that some of my business accounts do not have CL over $1k (my initial accounts), as now my accounts are getting CLs approved 3k, 4k, and now 8k for a Citi AA World MasterCard.
#23
Posted 17 July 2012 - 09:40 AM
I received my decline letter yesterday, more issues on my Personal EX bureau including AAoA, which is over 5 years.... EX Score 734.... They also did not like that some of my business accounts do not have CL over $1k (my initial accounts), as now my accounts are getting CLs approved 3k, 4k, and now 8k for a Citi AA World MasterCard.
You mentioned issues with your personal experian. What issue specifically? The score is pretty good. Yea, your business credit file needs to be thick. High CL with high usage rate with low balances. This shows activity. Work those new accounts that you've recently gotten and request CL increases after a couple of months. You may want to re-apply in 6-12 months. Good luck
#24
Posted 17 July 2012 - 11:15 AM
High Utilization on an account, and the AAoA (5+ years) were mentioned about my personal Experian.
#25
Posted 17 July 2012 - 04:00 PM
Wow do they also want your first born
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