Target Debit RedCard Questions

[stan_the_man]

I have a couple quick questions about the Target Debit RedCard that I hope you all can confirm from your exerience:

1) When you apply, there is no hard pull? This one appears to have been answered in previous posts, but I'd like to confirm it from someone with more recent experience.

2) Assuming you keep the account in good standing, Target does not reporting anything about the account to CRAs. Is this correct? 

3) When does Target do the ACH transfers (i.e. once a week, once a month, X days after the purchase)?

4) Other than protecting myself by linking the card to a checking account solely used for this purpose (that has no overdraft protection), is there any other advice you'd like to share about the card.

[Anonymous]

1) No hard pull for me

2) Nothing reporting on any of the three major credit reports specifically related to this card

3) 2-4 days after every purchase

4) never thought about protecting myself, might go ahead and see if i can link it to another checking account as you mentioned. not much to say about the card. you can add authorized users, it uses a pin for purchases, 5% on all purchases,  and thats about it

[RockinRay]

+1 - 

Same for me.

Nice to get that 5% at the register.

In my mind, worthwhile - I have one.

Ray

[hyprble]

I was thinking of signing up for the RedCard DEBIT account.  If I link it to my credit union checking account will I have fees from the transactions?

I think it's great to get the 5% off store purchases - I'd sign up for the VISA, but I do NOT want any hard pulls on my report.  Does the debit card offer the free shipping at Target.com also?

[Anonymous]

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@hyprble wrote:

I was thinking of signing up for the RedCard DEBIT account.  If I link it to my credit union checking account will I have fees from the transactions?

I think it's great to get the 5% off store purchases - I'd sign up for the VISA, but I do NOT want any hard pulls on my report.  Does the debit card offer the free shipping at Target.com also?

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Please someone correct me if I'm wrong but I believe the Target Debit card can only be used in store.

[spartanspirit]

target isn't offering the target visa card at this time, just the store card and the debit card. i was instantly approved, all i had to do was bring in a blank check and my driver's license, but you do have to enter your social security number. you are issued a temporary pass until your card comes which did for me in like 7 days. i think you have to have a pretty clear checking account record, like no checksystems or telecheck issues. my sister applied as well and she was not approved due to checking account issues. I just checked target's website and you can use the debit card both in store and online.

[MissExcellentCredit]

I have the Target Red Card. Only benefit I can see: 5% savings on register. It's a so-so card.

[UFGuy2006]

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@MissExcellentCredit wrote:

I have the Target Red Card. Only benefit I can see: 5% savings on register. It's a so-so card.

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Correct.

[RockinRay]

For me, I started with the debit card. Used it weekely at Target for groceries / stuff. Then, I decided to apply for a Red Card and was instantly approved with a $2500 line. Prior to this, I had a Red Card with a $300 line that I closed.

Point is, I think although they do not report debit card, they do get your social when you sign up. Then they must keep track internally how you spend and handle the debit card.

In my case, we already had the Target Visa card and I wanted a card in my name. It worked out quite well!

Depending on how much you shop at Target, the 5% can add up quickly.

Ray

[Anonymous]

I was interested in this card as well: Here is the info on the application though:

Important Information about the Target Debit Card

The Target Debit Card is issued by Target Corporation and can only be used at Target stores and Target.com. If you’re approved for a Target Debit Card, we will withdraw theamount of your transaction from your deposit account at another financial institution.
In connection with your Target Debit Card, we may request consumer reports from consumer reporting agencies, and we may report information about your Target Debit Card application, transactions, our experiences with you and how you have handled the Target Debit Card to consumer reporting agencies. You should read the Card Agreement for complete terms and conditions of the Target Debit Card.