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Contributor
jwduke
Posts: 114
Registered: ‎01-14-2012
0

Re: Close Target Account???

Funny, I checked my CR today, and my Target card now shows closed... Must not have liked my rant about them! Oh well, they just lost a customer!



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Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Close Target Account???


nvrgvupnvrsrndr wrote:

Just wondering what you credit guru's would suggest.  I closed my CreditOne account to day.  I had a perfect payment history and it was my 4th oldest revolving account but with only a $650 CL.  All of my other accounts started with CL's between $300-$600.  I haven't even had my Walmart and Barclay's 6 months and they raised me to $2000 and $2,500 respectively.  My Barclay's bumped me from $600 to $1,430 just last month.  I called today and got them to go to $2,500.  As a side note, I also called PayPal SC today and they raised me from $2,400 to $5k.  Anyway, in my opinion, I don't need CreditOne anymore so...soooo long.  I am trying to decide whether to do the same with Target.  I have a $200 CL...really!  They are my newest revolver.  I just got $3,670 in CLI's today so they're not going to hurt my utilization which was already less than 2%.  Just wanted to find out if dumping them was a good idea.  The only other store cards I have are Kohl's and Walmart.  Just tried of seeing that low CL every time I look at my report.  Thoughts/suggestions/comments?


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Epic Contributor
Creditaddict
Posts: 21,004
Registered: ‎10-23-2007
0

Re: Close Target Account???

Target Card is one of those you keep for the 5% or you get rid of, you don't keep it for the CL and you don't keep it because you like the bank. (Unless you are a rare and have the Visa!)

Check out and walk over to the customer service desk and you can process a payment with a debit card.... it's annoying if line is long or just stopping in general but 5% is worth it to me to use it and keep it for when im in their because if I closed it just because of the low CL and then I shopped I would be like I just cost myself $1.35, then the next time I would be like I cost myself $.75, then next time... then pretty soon I would be like UGH... I would start hearing my dad's voice "My dad always use to say - Don't cut off your nose to spite your face!"

If you use something like Mint, go in and put all your target purchases or pull a yearly statement and see how much you spend.... anything over say $10 for me or maybe $25 would justify keeping a card you already had.... Now if I had mid 700's credit and had $10k plus and risked a cl of less than $500 on Target I would probably not apply unless i knew over the year I saved over $50! just go get a new credit card offering some $150-$200 bonus with the same app you would have wasted, but already open... it's not hurting you, only helping.

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
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Contributor
Mopar_Jones
Posts: 205
Registered: ‎06-10-2013
0

Re: Close Target Account???

I'm really getting a strong strong urge to close this card!!

 

I wrote to the EO and no answer.. maybe because of the transition? I applied for this card maybe 6 months ago. They gave me the usual $200 limit. I almost feel like it's hurting me rather than helping, as far as tradline and limits go.. What do you think?

 

I looked at my statement. I've saved $9.45 this year? haha.. I use it and PIF. I don't know. I kind of want to stick it to them though..

Contributor
nvrgvupnvrsrndr
Posts: 191
Registered: ‎04-22-2013
0

Re: Close Target Account???


Mopar_Jones wrote:

I'm really getting a strong strong urge to close this card!!

 

I wrote to the EO and no answer.. maybe because of the transition? I applied for this card maybe 6 months ago. They gave me the usual $200 limit. I almost feel like it's hurting me rather than helping, as far as tradline and limits go.. What do you think?

 

I looked at my statement. I've saved $9.45 this year? haha.. I use it and PIF. I don't know. I kind of want to stick it to them though..


I closed mine at roughly the same time I closed my Credit One.  Within a month of closing both Target and Credit One I was approved for a Chase Freedom Visa Sig, Chase Sapphire Visa Sig and an AMEX PRG.  I'm not suggesting you should close yours.  Everyone's credit situation is different.  If they are you oldest account or one of the very few accounts you have open then I would definitely think twice before closing.  On the other hand, if you have several trade lines reporting and this is one of your newest accounts and you feel the low CL is hurting the way future creditors will look at you then dump them.  I don't shop at Target enough to take advantage of the 5%.  What I can tell you is when I closed my Target($200 CL) and Credit One($650 CL) I received the highest CL's I had ever received when I app'd for my new cards.

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