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Regular Contributor
pozativelyliving
Posts: 237
Registered: ‎07-13-2012

Re: Target Red - Recent approvals

I've been doing some research to see if it's worth the HP when I apply for this card.  I came across this info that was kind of interesting -

 

This credit card has no annual fee and as I write this review, the only interest rate listed on the application is 22.90%.

Unfortunately giving everyone that same rate of 22.90% is a worse arrangement than what they were previously offering in 2011, which was 3 different tiers of 13.25%, 17.25%, or 22.90% (depending on the applicant’s credit). Now, the application makes no mention of those two lower tiers.

Credit score requirements?
Target National Bank (the issuer) got burned pretty badly during the economic downturn, which is rumored to be the main reason they discontinued the Target Visa credit card.

Although they don’t publicly disclose the credit score qualifications needed to be approved, according to customer reviews it sounds like it can sometimes be hard to get approved for... so beware if you have a history of recent bankruptcy or charge-offs. When it comes to store charge cards this is probably one of the harder ones to qualify for. I've heard they reportedly pull from Equifax (instead of the other 2 credit bureaus) when reviewing an app.

Has the customer service been improved?
The verdict is still out on this one. There are a ton of Target credit card complaints from the past but the new card seems to have less, probably because they cut lose many of their cardholders during the recession which they deemed high risk.

Verdict?

So should you apply for a Target credit card now that the rewards have been improved? Well, I would say for the first time in years, this card is actually a good idea now if you frequently shop at their stores.

There is NOT a Target credit card application online that you can fill out, but you can apply in-store or download the app from their site and mail it in.

However one thing to be aware of is that there seems to be quite a few complaints online about the credit limits being low (as low as 3 digits) even for people who allegedly have great credit scores. If true, I wouldn't be surprised considering it's a store card. But it's still something to keep in mind as a low limit may make it more difficult to maintain a good credit to debit ratio. 
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Why would I want it? Another card to have for store specific purchases. I wouldn't carry a balance so it would be PIF every month. Could end up stuck with a Toy Limit for awhile or get something decent right off. Or, be declined. I've been batting 1000 with apps this week. Don't know if I want to goto bat one more time before I retire and goto the garden until next year.
EX 638 (Lender 9/1) TA 650(Walmart 9/1) EQ 655 (FICO - 9/17)
Goal - 700 Club in '13!!!

My Wallet - Cap 1 - $300. Cap 1 - $750. Orchard - $950.
New as of 8/29 - Target - $3000. Barclay's - $2000. Merrick - $1000. Walmart $600. And as of 9/22 - JCP $200.
Mega Contributor
Creditaddict
Posts: 18,980
Registered: ‎10-23-2007

Re: Target Red - Recent approvals

If you have the Visa with Target you should just sit and be quite because you have something that we can't even hope for right now! :smileytongue: (I mean that in like, you may hate your $4k and depending on other cards I would too, but the bank just doesn't offer it or CLI, so I rather have your $4k Visa, then my $1500 Store)

 

Anyway, Im not sure they really have that smart of a computer system, Recently saw that when trying to order replacement cards for a couple of my accounts, I thought he was going to try to close them for a minute, glad he didn't I was already irritated that day :smileytongue:)

 

He didn't understand how or why I had multiples (he actually didn't see I had 4)... I said because your limits suck and you are not offering increases at this time or pretty much in last 14 years when I turned 18 and got my first one ($300 today)

 

Forget dates but lots of us went from $200,$300, or $500 up to $1000 right around Christmas 2008 or 2009 I want to say and then it wasn't until about 2 years ago I saw my $1k go up to $1500!!  It was just all very odd considering the one that got the increases was my 2 card with Target starting at $200... In 2009 I added 2 more $200 limit Target Cards I guess 6+ months from the previous app.

 

I rather have a Target $200 Credit Card that doesn't move then a debit card... You at least have a "Chance" if they feel all financially fit and decide to let that little computer RUN it's little numbers at increase CL's on accounts!

 

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:
Established Contributor
JusdoNit
Posts: 921
Registered: ‎12-10-2011

Re: Target Red - Recent approvals

I just got approved for the store card, but I don't know the limit yet.  They won't tell you.  You have to wait until you get the card.  Well, my experience anyway.


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

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Regular Contributor
DeadSpider
Posts: 244
Registered: ‎07-29-2012

Re: Target Red - Recent approvals

WOW $4000 is good limit for Target !!!

 

I had mine open in 1996 and till last year was still @ $200 limit I just called and told the rep to shove it close the account and still said NO for CLI.

At one point I was offered to upgrade to VISA which I did and had $1000 limit but was lowered because I didn't use it a lot !!! Back to $200

Cap1 QS $11500, Freedom $5000K, Slate $8000 Amex Sky $2000K, Discover IT $4400, BCE $8800, NFL $1500, Lowes $7000

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Current Score: 742
Goal Score: 800


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Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008

Re: Target Red - Recent approvals

I think Ray's CL is the highest I have heard for Target so far

 

They are very conservative in thier CL's. I get the full 5%off since I buy my things in NH where it's sales tax free to start with :smileyhappy:

 




Valued Contributor
MsLadyRover
Posts: 2,731
Registered: ‎03-14-2012

Re: Target Red - Recent approvals


CS800 wrote:

I think Ray's CL is the highest I have heard for Target so far

 

They are very conservative in thier CL's. I get the full 5%off since I buy my things in NH where it's sales tax free to start with :smileyhappy:

 


That's awesome.

My 5% off barely covers my 6% sales tax. But I'm not complaining. It's still a savings.

 



Starting Score: 639 (Walmart TU)
Current Score: TU 699 (myFICO) EX 685 (myFICO) EQ 697 (myFICO)
Goal Score: 700 Across the Board (Mortgage Goal Achieved 1/31/2012!)

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Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008

Re: Target Red - Recent approvals


MsLadyRover wrote:

CS800 wrote:

I think Ray's CL is the highest I have heard for Target so far

 

They are very conservative in thier CL's. I get the full 5%off since I buy my things in NH where it's sales tax free to start with :smileyhappy:

 


That's awesome.

My 5% off barely covers my 6% sales tax. But I'm not complaining. It's still a savings.

 


I live in MA but on the NH border and NH has no sales tax while Ma has a 6.25% sales tax. I just drive across the border and shop at the target there. Also have a Lowes. HD, bestbuy, Kohls, Sears etc right across the border(I think this was made for obviious reasons)




Community Leader
Valued Contributor
DaveSignal
Posts: 2,062
Registered: ‎07-29-2011

Re: Target Red - Recent approvals

I received a $500 limit when I applied for mine and then the increased it to $700 automatically in less than 3 months.  I don't use it at all anymore since there are no Target stores where I am living, so I don't expect any more increases.

EX:694 TU:744 EQ:701
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Valued Contributor
MsLadyRover
Posts: 2,731
Registered: ‎03-14-2012

Re: Target Red - Recent approvals


CS800 wrote:

MsLadyRover wrote:

CS800 wrote:

I think Ray's CL is the highest I have heard for Target so far

 

They are very conservative in thier CL's. I get the full 5%off since I buy my things in NH where it's sales tax free to start with :smileyhappy:

 


That's awesome.

My 5% off barely covers my 6% sales tax. But I'm not complaining. It's still a savings.

 


I live in MA but on the NH border and NH has no sales tax while Ma has a 6.25% sales tax. I just drive across the border and shop at the target there. Also have a Lowes. HD, bestbuy, Kohls, Sears etc right across the border(I think this was made for obviious reasons)


I would drive across the border for everything if I lived there. LOL.

 



Starting Score: 639 (Walmart TU)
Current Score: TU 699 (myFICO) EX 685 (myFICO) EQ 697 (myFICO)
Goal Score: 700 Across the Board (Mortgage Goal Achieved 1/31/2012!)

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Established Contributor
westo12
Posts: 578
Registered: ‎07-20-2008

Re: Target Red - Recent approvals

I live in MA but on the NH border and NH has no sales tax while Ma has a 6.25% sales tax. I just drive across the border and shop at the target there. Also have a Lowes. HD, bestbuy, Kohls, Sears etc right across the border(I think this was made for obviious reasons)


I would drive across the border for everything if I lived there. LOL.

 


^ I second this comment lol.

2014 Starting-618, current TU617/EX653/EQ600 (WalmTU 7/7,Prosper, CLI decline ltr) / Ending Goal score: 720 - 25 pos TLs / Baddies: 1 unpd $312 med CA, 2/30 day auto lates almost 2yrs old /reported Install Bal/Lim: 27238/36512 | reported Revolving Bal/Lim: 12806/20532=62%util.

**IN the garden until I get some auto CLI's on major accts**

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