Credit Cards

[pozativelyliving]

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.

[Creditaddict]

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! (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 )

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!

[JusdoNit]

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.

[DeadSpider]

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

[CS800]

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

[MsLadyRover]

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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

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That's awesome.

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

[CS800]

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MsLadyRover wrote:

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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

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That's awesome.

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

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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)

[DaveSignal]

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.

[MsLadyRover]

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CS800 wrote:

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MsLadyRover wrote:

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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

---

That's awesome.

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

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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)

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

[westo12]

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)

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

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^ I second this comment lol.