I wonder if something is going on with the Target CC. It seems there are numerous posts with people with excellent scores and prime cards getting CLD or getting approved with ultra toy limits. It's puzzling because it seems like Target does promote their store card inside the store. If a CSR at Target tried to get me to sign up for their card for the additional discount, I think I would laugh. I'm not going to waste an inq for no stinking $200 cl!
My Target Visa's CL remains intact. However, I keep it active quite frequently. It seems this points more to inactivity than anything else.
What was the credit limit before? How old is the account?
Was at $700. Not a huge amount, but enough to buy things at Target. A drop to $200 is definitely noticeable though. The account was opened sometime in 2011, about 2 years ago. I haven't used it since July or August of 2012. I might just let them close it if they want. Or I will just call and close this card, plus a few others that I don't use. They aren't really doing anything for me right now, don't have any significant effect on my utilization, and just take up space in my sock-drawer wallet.
No matter what, it's always a bummer to receive a CLD.
Have you tried calling? I just called and tried to cancel my card. The woman I spoke to referenced my history from 2008, never late, never missed a payment, etc., etc.
She stated for the past few years with the economy, they weren't reviewing accounts and now they are doing automated reviews for CLI. I also informed her that I don't use this card and I didn't want them to close it for inactivity and she advised that they will not (Clearly, this doesn't mean this is 100% accurate, but I found it interesting). She asked me to give it some time to let them review and determine a CLI. So I told her I'd give it another month. It doesn't hurt me to keep it, but it's also nice to close account that aren't use because it's one less to have to keep tabs on.
Anyway, I'd call to find their reasoning behind it to see if you can't get your CL back. Worst thing that happens if you're in the same spot that you're in now.
I decided to call and close it. I don't use the card. If I am ever living near Target again and the 5% is still more appealing than my CC rewards, I will reapply. I don't need the account for utilization.