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Target RedCard MasterCard Question

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I'm curious.  What was the orginal reason Target decided to no longer issue MasterCards and just issue their own in-house card?  I still have the Target (TD Bank) MasterCard, opened in 1995 (a long time ago).  I find it odd that Target continues to have these two classes of credit card customers.  I'm thinking if a company decided just to have its own credit card, that at some point they'll convert the old MasterCards into their own store card.   As time goes by, less of the MasterCards are still open, as accounts go inactive, customers die, they're closed for cause (past due a year), etc.  Anyway, I'm not complaining.   Maybe at some point Target/TD Bank will issue MasterCards again, so new cardholders can be just like me.  :)

 

"RedCard™: Target Debit Card, Target Credit Card, and Target Mastercard®. Subject to application approval (Target Mastercard not available to new applicants). The RedCard credit cards (Target Credit Card and Target Mastercard) are issued by TD Bank USA, N.A. The RedCard debit card is issued by Target Corporation. Mastercard is a registered trademark of Mastercard International, Inc. Pat 7,562,048 and 8,117,118."

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Back in 2015 I was approved for the store card, $300 CL. Less than a year later they converted it to a MC. Gradually the card got beyond toy limit status. CL now stands at $14.5k.

 

Not bad for pencil purchases I guess.

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My guess would be that not enough people wanted the Mastercard given that there were not, as I recall, any substantially different benefits than one got with the basic Red card (ie. the 5% off at point of sale). 

 

Quite frankly, had they converted mine to a MC, I probably would have ditched it long ago...instead, I use the Red card every couple of months to show activity while getting my POS discount and the donation to a school of choice. 

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I also started with a toy limit store card years ago and built up the credit line and then lost the account for inactivity!  I decided to reapply and this time I made sure to use it more often. I would receive increases often and finally was upgraded to the MasterCard 2 years ago. I was shocked since I thought they were gone forever. I have been getting bigger increases and finally am at $13k + which is more than enough for my little bit of shopping every month.

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13 hours ago, atxn said:

I also started with a toy limit store card years ago and built up the credit line and then lost the account for inactivity!  I decided to reapply and this time I made sure to use it more often. I would receive increases often and finally was upgraded to the MasterCard 2 years ago. I was shocked since I thought they were gone forever. I have been getting bigger increases and finally am at $13k + which is more than enough for my little bit of shopping every month.

It's good to see bigger limits on these cards for credit-related reasons, but it always cracked me up how incensed people would get when their Target cards "only" had limits in the $1,000 range.  

 

$1,000 buys a lot of Windex and Q-Tips.

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1 hour ago, cv91915 said:

It's good to see bigger limits on these cards for credit-related reasons, but it always cracked me up how incensed people would get when their Target cards "only" had limits in the $1,000 range.  

 

$1,000 buys a lot of Windex and Q-Tips.

 

Bev was issued a Target store card with a toy-scale CL of $200 in 2007.  She might have had one account closed with an adverse paid status in 2001, but also had a small handful of mid-4 digit prime credit lines in place, as well as a joint-owner mortgage and a stand-alone $50k home equity line.

 

Used the card sporadically over the ensuing year and applied for a CLI.  Denied, for what I remember dismissing as a bogus reason then.  Decided to kick the card to the curb and haven't looked back (it was closed for inactivity in 2011).

 

She wasn't "incensed"; just way too small a spud to fry ...

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It turns out I got confirmation today that the Target Mastercard is a live and well.  I just received notification that after 18 months of using my Redcard, I got an auto CLI from $2k -> $9k and my card has been promoted to a Mastercard.

 

One thing I wasn't expecting is that outside of Target, my Mastercard will get 2% back on gas and dining, and 1% back everywhere else, to be paid as a Target gift card once a year.  It's nothing special, but I didn't expect any rewards outside Target.

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28 minutes ago, nemo said:

It turns out I got confirmation today that the Target Mastercard is a live and well.  I just received notification that after 18 months of using my Redcard, I got an auto CLI from $2k -> $9k and my card has been promoted to a Mastercard.

 

One thing I wasn't expecting is that outside of Target, my Mastercard will get 2% back on gas and dining, and 1% back everywhere else, to be paid as a Target gift card once a year.  It's nothing special, but I didn't expect any rewards outside Target.

there is also no FETF and true chip and pin. Congrats!!

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29 minutes ago, hegemony said:

there is also no FETF and true chip and pin. Congrats!!

Cool, thanks!  It might be my only card that works in certain kiosks when traveling overseas, then.

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