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Established Contributor
Posts: 588
Registered: ‎07-20-2008
0

Re: Target Red - Recent approvals

Logged in today and found I'd received a auto CLI of $100, lol.  Account opened for 3 months at this point.

Sigh. Starting over...Chap7 discharge 7/29/15
Myfico.com scores as of 11/19: tr535/eq574/ex579
Valued Contributor
Posts: 2,789
Registered: ‎10-10-2012
0

Re: Target Red - Recent approvals

An auto-increase from Target?! Wow, Congrats! Those are rare. Smiley Happy

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 816 EX 780 TU 823
App free since 4/11/13
Established Contributor
Posts: 588
Registered: ‎07-20-2008
0

Re: Target Red - Recent approvals

 

Credit Limit Increased

Congratulations! To show how much we appreciate the effort you put into keeping your account in good standing, we've raised your credit limit. Your new limit -- you can see it on this statement -- is in effect now, so you can start taking advantage of your new spending power right away. Thanks for using your REDcard!

 

lol I thought this was a nice touch. ^ Smiley Happy New spending power indeed lol.

Sigh. Starting over...Chap7 discharge 7/29/15
Myfico.com scores as of 11/19: tr535/eq574/ex579
Established Contributor
Posts: 526
Registered: ‎02-08-2013
0

Re: Target Red - Recent approvals

OT here, but does anyone know how Target makes money off the Target Debit card? 5% off everything and free shipping has to be a losing deal for Target...

     
Valued Member
Posts: 73
Registered: ‎01-15-2010
0

Re: Target Red - Recent approvals


SuperKirby wrote:

OT here, but does anyone know how Target makes money off the Target Debit card? 5% off everything and free shipping has to be a losing deal for Target...


All card issuers make money from the merchant each time their card is swiped. It's called a transaction fee or something.

 

That, plus the money they make on interest and fees (cash advance, late fees) are way more than enough to make any company extremely happy.

Established Contributor
Posts: 526
Registered: ‎02-08-2013
0

Re: Target Red - Recent approvals


chadwick wrote:

SuperKirby wrote:

OT here, but does anyone know how Target makes money off the Target Debit card? 5% off everything and free shipping has to be a losing deal for Target...


All card issuers make money from the merchant each time their card is swiped. It's called a transaction fee or something.

 

That, plus the money they make on interest and fees (cash advance, late fees) are way more than enough to make any company extremely happy.


I understand how the credit card works. But how about the debit card? The transaction fees are so minute for debits, and on top of that, they give 5% off everything and free shipping! 

     
Valued Member
Posts: 73
Registered: ‎01-15-2010
0

Re: Target Red - Recent approvals


SuperKirby wrote:

chadwick wrote:

SuperKirby wrote:

OT here, but does anyone know how Target makes money off the Target Debit card? 5% off everything and free shipping has to be a losing deal for Target...


All card issuers make money from the merchant each time their card is swiped. It's called a transaction fee or something.

 

That, plus the money they make on interest and fees (cash advance, late fees) are way more than enough to make any company extremely happy.


I understand how the credit card works. But how about the debit card? The transaction fees are so minute for debits, and on top of that, they give 5% off everything and free shipping! 


Haha sorry I'm silly.

 

I don't have a Target card but I'm assuming since the 5% only applies to their stores, it's not going to break their bank...their markup is probably more than enough to cover 5% off and then some. That, added with the swipe fees probably make it worth the while, idk.

Established Member
Posts: 22
Registered: ‎01-25-2013
0

Re: Target Red - Recent approvals

[ Edited ]

I first signed up in 2012 and got a $200CL....just got an auto increase to $500 yay!!!

My Wallet
Discover IT $2250/ Amex Plat $NPSL/ Walmart $3700/ Target $1300/ BP $1000/ Chase Freedom $2500/ Chase Freedom 2 $500/ Chase Hyatt $5000/ Chase Marriott Signature $5000 (03/2014)/ Chase Sapphire Perferred $17,500 (03/2014)/ Victorias Secret $2300/ US Bank Plat $500/ US Bank College $500/ Citi Forward Siggy $6,700/ Best Buy Store $1500/ Best Buy Mastercard $1,500/ 1st Financial Plat $1650/ Cap 1 Quicksilver $5300/ AMEX Delta Plat $11,200/ Kohls $1000/ Barclay Arrival Plus $5000
Established Member
Posts: 15
Registered: ‎12-23-2012
0

Re: Target Red - Recent approvals

After reading these, and other, posts I find the following odd: my wife was approved for the red card cc within the last six months with a limit of 500. Only a couple months later it was bumped 200 to 700 and just a couple weeks ago another 200 for a total cl of 900. Her scores are mid 6 across the board, income of 36000, and, despite my attempts, always carries a balance and make only the minimum payment each month. Maybe lining their pockets with the interest is the key, if thats the case I think its time to say see ya to her red card.
Super Contributor
Posts: 6,230
Registered: ‎09-07-2013
0

Re: Target Red - Recent approvals

Just got approved instantly with a temporary credit limit of $300, whatever that means.

Total CL: Around $168,750 not counting hidden TLs. FICOs in the 700-730 range.

Main cards: Macy's Amex: $24k, Lowe's, $17k, Chase Sapphire Preferred: $7k, Chase AARP: $5.2k, Chase Freedom: $5k, Chase British Airways: $5k, Discover It: $1.5k, Barclays Arrival: $2.5k, Sam's Club MC: $8.5k, Stash: $8k, Sam's Club: $10k, Wells Fargo Propel: $8k, Paypal Smart Connect: $4.9k, Amazon Store Card: $6k, Cabelas Club Visa: $5k, Nordstrom: $5k, CapOne Quicksilver: $2k

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