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Flashman

Time for the Target card? Questions posed; opinions eagerly sought

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Hey Y'all,

 

I've been contemplating getting the Target Card (the credit rather than the debit card). However, I'm chary about applying because, after viewing some old threads here on CB, the REDcard appears (to me at least) to have something of a low-rent, "toy card" feel about it.

 

For example:

I have a Target card with $200 limit and I opened this card in 2008. I have asked them many times for CLI without success so I will ask again in couple of months and if they say no then it goes to the shredder.

 

 

 

The above comment was posted in 2013 (!).

 

It's one thing for an issuer to start you out on a rinky-dink basis, quite another when they insist on keeping you there for years on end. And while a $200 tradeline might do me to start out with, it definitely will not do me if Target is stingy when it comes to granting CLIs even after a year or three of fairly regular card use and on-time payments (which is the distinct impression I am under).

 

If it's any help, I'm only thinking of applying because of the 5% off Target offers if you use their credit card. Me being the anal-retentive type I am, my butt twitches when I walk past the huge "5% off when you use your REDcard!" sign prominent at the front of every store and I contemplate the $5-$10 I will be "losing" as the result of shopping at their store and using a CC other than theirs. However, since I tend to drop between $100-$200 every time I visit a Target, I am concerned that being the proud owner of one of their rinky-dink $200 tradelines will start killing my credit score in terms of my tradeline utilisation. :(

 

Apart from the above, I'm also wondering:

 

A) Does Target frown at micropayments (i.e. will they become concerned if I PIF within a few days of my using the card every time I use the card)?

 

This is an important consideration, because with the micro-sized tradelines of $200-$300 that Target seems to be fond of giving out, I will need to zero out the balance pretty regularly or my credit score will start taking hit points in no time flat.

 

B ) Is there a known minimum tradeline that Target will start a cardholder out at, assuming an applicant is granted the card?

 

I ask because I tried pestering one of the reps at the 1.888.755.5856 number Target gives at the bottom of the information page on the card, but the rep absolutely refused to tell me about any sort of minimum tradeline, which leads me to believe that they are entirely capable of granting tradelines even below $200. :(

Of course, I could have developed an entirely mistaken impression regarding the card; I'm only mentioning the impression I've developed after some very rough preliminary research. If you have the card and can't praise it enough, I'd love to hear from you as well. :)

 

 

 

Edit: punctuation

Edited by Flashman

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The card pays a flat 5% back on every purchase, and gets you free shipping from target.com.

 

No one gets a Target card because they expect to get a $100,000 limit.

 

If it's of value to you, get it. How much shampoo do you need? I can't remember the last time I spent more than $50 at Target in a month.

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Would never get a store only card.

 

And I've sworn off cash back cards entirely, but people value different things.

 

I'm trying to remember that in 2015. :D

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If you are interested in the five percent discount just get the debit card.

If you are looking to get a high limit store card , this is not the one.

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Would never get a store only card.

 

And I've sworn off cash back cards entirely, but people value different things.

 

I'm trying to remember that in 2015. :D

 

Well, he did ask for opinions. And, IMO, store only cards are a complete waste of a new account reporting/inquiry/wallet. and they do nothing beneficial for FICO.

 

Only exception is that if OP was just building credit, and needed to begin with store cards. That's not likely the case with Flashman.

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You can take much of the intel gathered on Target prior to 2012 and toss it - Target formerly did their own underwriting and now Toronto Dominion manages the Target portfolio. We know this to be true (partly on personal experience):

 

1. If you apply for the Visa, but get the store card instead it might graduate in 6-12 months.

2. CLIs by request - forget it they don't even offer a luv button

3. There are a lot of data points in the CP database. Nearly all store cards are $200 to $300, Visas are in the $1K to $5K range.

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If you are interested in the five percent discount just get the debit card.

If you are looking to get a high limit store card , this is not the one.

+1

 

I don't really shop at Target enough to want either one.

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You can take much of the intel gathered on Target prior to 2012 and toss it - Target formerly did their own underwriting and now Toronto Dominion manages the Target portfolio. We know this to be true (partly on personal experience):

 

1. If you apply for the Visa, but get the store card instead it might graduate in 6-12 months.

2. CLIs by request - forget it they don't even offer a luv button

3. There are a lot of data points in the CP database. Nearly all store cards are $200 to $300, Visas are in the $1K to $5K range.

It was my understanding that Target no longer offers the Visa...

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You can take much of the intel gathered on Target prior to 2012 and toss it - Target formerly did their own underwriting and now Toronto Dominion manages the Target portfolio. We know this to be true (partly on personal experience):

 

1. If you apply for the Visa, but get the store card instead it might graduate in 6-12 months.

2. CLIs by request - forget it they don't even offer a luv button

3. There are a lot of data points in the CP database. Nearly all store cards are $200 to $300, Visas are in the $1K to $5K range.

It was my understanding that Target no longer offers the Visa...

Are you looking for a $5K Visa? :lol:

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You can take much of the intel gathered on Target prior to 2012 and toss it - Target formerly did their own underwriting and now Toronto Dominion manages the Target portfolio. We know this to be true (partly on personal experience):

 

1. If you apply for the Visa, but get the store card instead it might graduate in 6-12 months.

2. CLIs by request - forget it they don't even offer a luv button

3. There are a lot of data points in the CP database. Nearly all store cards are $200 to $300, Visas are in the $1K to $5K range.

It was my understanding that Target no longer offers the Visa...

 

You are correct. Store card and debit card is all Target offers now.

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You can take much of the intel gathered on Target prior to 2012 and toss it - Target formerly did their own underwriting and now Toronto Dominion manages the Target portfolio. We know this to be true (partly on personal experience):

 

1. If you apply for the Visa, but get the store card instead it might graduate in 6-12 months.

2. CLIs by request - forget it they don't even offer a luv button

3. There are a lot of data points in the CP database. Nearly all store cards are $200 to $300, Visas are in the $1K to $5K range.

It was my understanding that Target no longer offers the Visa...

Are you looking for a $5K Visa? :lol:

 

Nope.

 

Actually I did have a 10K visa with Target before I found CB. I closed it believing that one could have too many credit cards and I wanted "better" cards. Obviously this was before I became a whore>pimp :rofl:

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the debit card gives the same cash back WHY APPLY FOR THE CREDIT CARD so you can have a $200 line show on your report

+1

 

DW has had her Target card forever it seems. No CLI's from what I can recall.

 

I've got the debit card. Works just as good.

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Well, he did ask for opinions. And, IMO, store only cards are a complete waste of a new account reporting/inquiry/wallet. and they do nothing beneficial for FICO.

If it's any help, I don't need to derive a FICO benefit from having this card: the sole point to the exercise is getting the 5% off.

 

My primary concern is that having such a minor tradeline will adversely affect my credit because of the almost inevitable high utilisation of such a travel-sized tradeline, hence my question about whether Target is comfortable with/nervous about folks who PIF and zero out their balance within a couple days of using the card.

 

 

Only exception is that if OP was just building credit, and needed to begin with store cards. That's not likely the case with Flashman.

For the record, it is indeed not the case. :)

 

This is actually my first go at applying for (or rather, considering applying for) a store card and, based on the responses so far, I'm beginning to see now why I was never tempted to seek one out before. :grin:

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Thank you for the reply.

 

the debit card gives the same cash back WHY APPLY FOR THE CREDIT CARD so you can have a $200 line show on your report

Debit cards are a non-starter with me due to fact that they are directly linked to my checking account. My understanding (and I could be wrong) is that if my debit card gets hacked, it's my money (rather than the card company's) the bad guys will be playing with.

 

Banks, I've noticed, have a marked tendency to take their sweet time fixing a problem (like fraud) when it's the account holder's money at stake rather than the bank's. :(

 

I appreciate your taking the time to point out that a debit card would get me the 5% discount I seek, but for me, the potential for fraud where debit cards are concerned makes it not worth it, sorry.

 

 

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Get the Target Red Card Amex re-loadable debit card instead. Not a credit card but you can load $5000 a month from rewards card on the card

and earn free points. It's not available in all states though yet.

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Just start shopping at Walmart . Most things are about 5-10% cheaper there anyway. Their card grows fast with usage. Mine has went from 400 to 7000 in the past year.

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Just start shopping at Walmart . Most things are about 5-10% cheaper there anyway. Their card grows fast with usage. Mine has went from 400 to 7000 in the past year.

But the Walmartians in their spandex and mullets just make me want to barf....

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Back when I realized how stupid it was to keep using debit cards I found CB. It became clear pretty quickly that the usual route of starter cards and gradually building up credit was a non-starter and I quickly zeroed in on secured CCs. This led directly to the Citi secured MC which, at the time, offered up to a 25k secured card with a 4.07% APR on the security, an 18 mo. CD.

 

That turned out to be quite an excellent decision as it solved my immediate needs and kick started my rebuilding. Within 2 years the Citi card and a similar but non interest paying WF secured card unsecured and left my files with no evidence of marginal credit products.

 

Before that I had considered, but demurred, getting an Orchard or First Premier card. Thank God for the internet.

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I feel the same way about the Target debit card and fraud. It happened not too long ago to millions of people..

 

I really wouldn't waste your time with the store card anyway.

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I don't think their store card is worth much of anything. There are much better cards you can get with better starting limits too or ones that actually grow with you overtime.

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If you repeatedly charge up to your limit & PIF so you can do it again, they will freeze your card. You'll have to call card services. BTDT. I was buying a LOT of Disney gift cards through mine.

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If you repeatedly charge up to your limit & PIF so you can do it again, they will freeze your card. You'll have to call card services. BTDT.

 

Were you ever able to "train" Target over time to accept that your maxing out the card and promptly paying it off in full was part of your normal spending pattern?

 

or

 

Did you have to call card services to get your card unfrozen on, say, the 35th time you maxed it out in exactly the same way you had to the first time you maxed it out (i.e. no matter what you did, Target never caught on over time that you could be counted on to PIF)?

 

 

Edit: clarity

Edited by Flashman

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