topic Re: Target Red Card in Credit Cards

Target Red Card

writerstale — Sun, 25 Oct 2015 16:44:14 GMT

If a person shops at Target a lot is the Target Red Card worth getting? Also, what's the minimum amount of good credit history needed to get the card?

Re: Target Red Card

Anonymous — Sun, 25 Oct 2015 17:27:09 GMT

@writerstale wrote:
If a person shops at Target a lot is the Target Red Card worth getting? Also, what's the minimum amount of good credit history needed to get the card?

IMO, only worth getting if you need more ccs for score purposes (or need to carry balances at Target) and even then it seems many people start (and stay) at a low CL. Otherwise, for actual savings at Target, get the RedCard debit card, which gives the same 5% discount, free shipping and extended returns, without any impact to your credit report

Re: Target Red Card

Shawndoe79 — Sun, 25 Oct 2015 17:29:22 GMT

Yes, In theory, only apply for cards that you are going to use, no need in wasting a inquiry unless youre going to use it. Now there are other reasons for applying for cards, like sign up bonuses, cash back, utility padding, etc, thick profile blah blah blah, but you get my point. The score for this card is usally around 615 and I think they pull EQ

Re: Target Red Card

deltatee — Sun, 25 Oct 2015 20:45:59 GMT

In my opinion, the Red Card credit card has very little value because they offer a debit card that also saves 5%. I wish more stores would have debit card offerings. The only other one I know of it Nordstrom

Re: Target Red Card

ddemari — Sun, 25 Oct 2015 21:59:07 GMT

Unless u are spending at least 100 to 200 there a month the overall yearly cash back doesn't add up to much. U do get free shipping though on all online orders, but it's nothing that great. If had on for over 2 years stuck at 300 dollars. Only card I have that's never seen an increase and it would even be a well deserved increase lol.

Re: Target Red Card

Anonymous — Sun, 25 Oct 2015 23:42:40 GMT

Target offers two REDCard products - a credit card and a debit card.

The rewards are identical (5% back) as are the perks (free shipping).

The only difference is that one is a debit card - they take the money right away - and the other is a credit card, so you have roughly a month of "float" on the statement. After that it's 22.90% interest.

I'd strongly suggest getting the debit card - the credit card adds no real value.

Re: Target Red Card

disdreamin — Sun, 25 Oct 2015 23:50:58 GMT

I got the Target Redcard credit card by choice - I didn't want the debit card as I didn't like it being directly linked to my bank account. This is for the same reason that I only have an ATM card and not a debit card on my main household checking account. I like the 5% savings, and I also like the Take Charge of Education kickback you can set up (our school earns something like $500 a year from it). My limit has never budged from where I started, which was $3k, but despite my minimal use - I put perhaps $150-200 a month through it most months - it's stayed the same since I opened it a few years back. Oh, and the free shipping is great. It really makes it easier when you just want a couple small things where shipping would usually be relatively astronomical! And at the holidays, the Target website is very nearly my one-stop-shopping point for out-of-town relatives.

Re: Target Red Card

Anonymous — Sun, 25 Oct 2015 23:58:02 GMT

@disdreamin wrote:
I also like the Take Charge of Education kickback you can set up (our school earns something like $500 a year from it).

Sadly, Target is ending that program.

http://www.startribune.com/target-will-end-school-charity-program-shift-giving-focus-to-wellness/327423181/

Re: Target Red Card

disdreamin — Mon, 26 Oct 2015 00:42:56 GMT

@Anonymous wrote:
@disdreamin wrote:
I also like the Take Charge of Education kickback you can set up (our school earns something like $500 a year from it).

Sadly, Target is ending that program.
http://www.startribune.com/target-will-end-school-charity-program-shift-giving-focus-to-wellness/327423181/

That is sad, but I can see the rationale. Our school didn't benefit from it greatly, but it seems that some schools did and they will really feel the crunch.

Re: Target Red Card

Anonymous — Mon, 26 Oct 2015 01:12:19 GMT

@Anonymous wrote:
Target offers two REDCard products - a credit card and a debit card.

The rewards are identical (5% back) as are the perks (free shipping).

The only difference is that one is a debit card - they take the money right away - and the other is a credit card, so you have roughly a month of "float" on the statement. After that it's 22.90% interest.

I'd strongly suggest getting the debit card - the credit card adds no real value.

There is also the prepaid Redbird (now sadly no longer available for MS) which you can load (with cash or from your bank account) and then use.

For those worried about debit cards having access to their bank account, I just use one of my "minor" bank accounts, so even if was drained, I would be OK while waiting for the money to be restored. Also it can only be used at Target and has some daily limits,

Re: Target Red Card

Anonymous — Mon, 26 Oct 2015 01:41:54 GMT

There is also a Target MasterCard or Visa

Re: Target Red Card

Ron1 — Mon, 26 Oct 2015 01:47:57 GMT

@Anonymous wrote:
There is also a Target MasterCard or Visa

It is not available to the new applicants.

Ron.

Re: Target Red Card

Anonymous — Mon, 26 Oct 2015 17:59:47 GMT

@Anonymous wrote:
@disdreamin wrote:
I also like the Take Charge of Education kickback you can set up (our school earns something like $500 a year from it).

Sadly, Target is ending that program.
http://www.startribune.com/target-will-end-school-charity-program-shift-giving-focus-to-wellness/327423181/

Well that stinks and one of the main reasons I convinced DH to apply for it and I use it. We have several kids and that was a way to make sure we contributed to the school district without having to remember to write a check

Re: Target Red Card

SunriseEarth — Mon, 26 Oct 2015 21:24:25 GMT

@disdreamin wrote:
I got the Target Redcard credit card by choice - I didn't want the debit card as I didn't like it being directly linked to my bank account. This is for the same reason that I only have an ATM card and not a debit card on my main household checking account. I like the 5% savings, and I also like the Take Charge of Education kickback you can set up (our school earns something like $500 a year from it). My limit has never budged from where I started, which was $3k, but despite my minimal use - I put perhaps $150-200 a month through it most months - it's stayed the same since I opened it a few years back. Oh, and the free shipping is great. It really makes it easier when you just want a couple small things where shipping would usually be relatively astronomical! And at the holidays, the Target website is very nearly my one-stop-shopping point for out-of-town relatives.

That's a good reason to consider the Credit Card over the Debit Card, especially if you only have one checking account. Since my Target codes as a grocery store, I use SM these days and have SDed the redCard. However, I did like the instant 5% off with the redCard. Also, if I ever order from Target.com again, I will use the redCard again for the free S&H. If you buy a bulky item, that definitely can come in handy!

Re: Target Red Card

SunriseEarth — Mon, 26 Oct 2015 21:29:02 GMT

Another thing I've noticed about the Credit Card is that the card reports as "Credit Card" instead of "Charge Card" on my CRs. Some people don't want store cards on their CRs, but since their card reports as a major CC, this may be of interest. I'm not sure to what degree having bankcards over store cards has on scoring (if any).

Re: Target Red Card

Anonymous — Mon, 26 Oct 2015 21:51:50 GMT

I like my Target credit card. I know they have a bad rep for not giving out nice SLs and CLIs. I was one of the lucky ones. My SL was 2k and a few months later they showed me some auto luv of $700. I haven't received an increase since last year, but I'm hoping they will do it again. I enjoy the 5% off and free shipping too. I know they offer a debit card which does the same thing, but I don't like having anything directly linked to my checking account so I opted for the credit card.

If your scores are low and you feel they won't give you a nice SL, then I would wait to apply for it. My scores were over 730+ when I applied for mine. Please let us know what you decide.