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Frequent Contributor
74king
Posts: 403
Registered: ‎04-08-2009

Re: Target


LilMirth wrote:

I think that it's a bit of a stretch to say that it's a "slap in the face". Frequently, the Target store cards are issued when we have less than stellar credit. And, they're not issuing them for the purpose of helping people to rebuild their credit, they're trying to help you to help their bottom line, which includes minimizing losses.

 

Well said.......rather lengthy BUT well informative. Your comments have been duly noted.:smileywink:
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Frequent Contributor
dizbuster
Posts: 289
Registered: ‎12-01-2008

Re: Target


LilMirth wrote:

I think that it's a bit of a stretch to say that it's a "slap in the face". Frequently, the Target store cards are issued when we have less than stellar credit. And, they're not issuing them for the purpose of helping people to rebuild their credit, they're trying to help you to help their bottom line, which includes minimizing losses.

 

But, I understand the frustration! I fired Cap1 after realizing that I had one of their "dead" rebuilder cards that would never be eligible for an increase, had a double-digit APR, and an annual fee. It was so frustrating (at the time, I think I used the word "demoralizing") to work and work, and still not be good enough. I had to come to accept that I am not owed credit, even for a perfect history as I had with Cap1. And, when I was in a position to say, "I don't NEED you anymore", I threw off the training wheels and severed the relationship. My consolation? As their rate of default rises, they lost a GOOD customer who paid. Drop in a bucket, but it made me feel good.

 

I think that we have to view store cards a bit differently that major credit lines. They were never really intended to grow big, in Target's case. I forget the exact maximum on the store card, but it's not that high. And, it appears that when you reach 1k that they offer you the VISA. I've even heard (can't speak to the veracity of the info) that Target even considers the market/area in their lending decisions, and may cap some areas lower than others. And, Target is not a Macy's or a Nordstrom. Unless you're trying to furnish your entire house in one shopping trip, and get some groceries, a few hundred dollars is going to suffice for the *average* trip to Target, for non-commercial purposes. If you use their card (vs. SDing it) you might notice that they loosen the purse strings near the holiday push. There were dozens of us, quite a few who'd been at $200 for YEARS, who got Target luv right at the holidays, out of the blue.

 

All that to say-- it may never dazzle you with rewards (ever higher credit lines and perks to your liking), but it is a positive tradeline that will add to the mix of credit, and that doesn't charge ridiculous fees to keep in your wallet (unless you carry balances, then the APR is sky high). If Target is a regular stop on your shopping trail, then you're probably the type of customer that they're targeting their credit products at, and when the stars align, and they're feeling in the mood-- the luv will suddenly appear. Until then, just let it be for what it was intended-- a discount retail store card for every day household needs.


 

Great post LilMirth, you hit the nail on the head with that one. :smileyhappy:
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7/6/2009 Equ 664 TU 680 (15 and 19 point jump respectively this week, over 100 point increase in 6 months)
Regular Contributor
LYNNY47
Posts: 133
Registered: ‎03-28-2008

Re: Target

I have a 648 EQ; 692 TU and 693 EX and I still have a 200 CL for Target.  I have only had the card for one year in March and I use it off and on when I need something and then pay it right off but I stillhave the same CL.  I believe in these economic times that unless your credit is really good I am not going to see a change in that for a year or 2.  My goodness by that time I should be well into the mid 700's so it works for me.  The way I look at it I never used to pay that much attention to my credit  which was very foolish in my opinion and each month it gets better and better.  Everything I owe has been paid on time and before it is actually due for the last 2.5 years so I guess I put myself into this so I need to wait it out.  I know that I used to be able to pay all my credit cards off within the 30 day mark but then that came to an end once my son went to school so what can you do but move forward.  Now he is graduating and I will get these credit cards all down to where they should be again as I would much rather be putting this money into the bank and not paying any interest but sometimes we have to go through these things. I have taken responsibility for this and I am expecting it to take a couple more years but I will never put myself into this position again in my life.  Afterall cash is good.

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Regular Contributor
tunseeker1
Posts: 108
Registered: ‎04-06-2008

Re: Target

in my experience Target is very easy to get along with. They actually give you credit based on your real average spending habits and they do like to make a little money on you in interest. If you have only spent under $40 and paid it off before the bill cuts then you really don't NEED a higher limit then $200. If you use it and pay them some nterest then you will usually see a  CLI. Thats how it has been for me so far.
Regular Contributor
LYNNY47
Posts: 133
Registered: ‎03-28-2008

Re: Target

Okay maybe that make sense now.  I have only paid interest 1 time in 14 months.  I will beak it down into 2 months this time and see what happens.  I also don't use it more then 4 times in a year so that could be the problem also.  I guess I will have to use this more but maybe not.  I will see what happens.  I am truly trying to stop using credit to buy things and just use my own cash especially being these economic times but I get conused at times and not sure of what I should really do.  Credit score versus not buying or I should say not using credit cards.  Thanks for the information.   

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Regular Contributor
nmorton79
Posts: 195
Registered: ‎07-11-2007

Re: Target

:smileyhappy:
LilMirth wrote:

My suggestions would be to wait until you're at least above 620, then call and ask them. Explain your situation, and how you're confident that it'll never happen again. Tell them that you can now demonstrate that you have adequate income and ability to pay, and that one of your favorite places to shop is Target. And mention that you read in a Money Magazine article that they might agree to "debt forgiveness" given that you did pay. See what they say to that.

 

If they blacklist for a while, nothing gained & nothing lost. I'm fairly willing to bet that they don't blacklist forever. Wait for it to fall of your reports, do some shopping, and then wait for an 'offer' at the register.

 

 


 

I will do just that...thanx:smileyhappy:
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Regular Contributor
nmorton79
Posts: 195
Registered: ‎07-11-2007

Re: Target


usmc58555 wrote:
Realistically, had you called them and negotiated prior to paying off the charge off, you might have had a better time having them re open for you as a condition of payment.

now you are just paid off and probably black listed for awhile.

 

I fugured as much...I'll wait awhile and try my luck...thanx:smileyhappy:
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