topic Re: Question about REDCard Debit Inquiry in Credit Cards

Question about REDCard Debit Inquiry

trumpet-205 — Sat, 25 Dec 2010 05:08:34 GMT

I understand many people here have Target REDCard for building credit history and/or that 5% discount. I just started on building my credit history so I highly doubt that I can get a credit version at this time. So my intention is to apply the debit card version. Problem is that as I look through the application for debit card,

"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."

So does Target pull your credit report even though you are applying for a debit card? If so is it a soft or hard pull? Finally if they do pull CR which one they pull it from?

@Mod - I don't know where to post this. Move it if it is in the wrong place.

Re: Question about REDCard Debit Inquiry

Creditaddict — Sat, 25 Dec 2010 05:39:22 GMT

Your Fako scores are currently around 700? sounds like a quick rebuild if from that!!! Those would be way high enough to get a Target Card.

Re: Question about REDCard Debit Inquiry

trumpet-205 — Sat, 25 Dec 2010 05:47:06 GMT

LOL

Here is a little background about me. I'm a college student who started on building credit history two months ago. Before that I had absolutely no credit history. So to be precise I'm not rebuilding a credit history. I currently have a Cap 1 Student Reward (unsecured, CL $500, util 13%).

My FAKO scores came from Credit Karma. You think I have a chance in the credit version?

Re: Question about REDCard Debit Inquiry

Creditaddict — Sat, 25 Dec 2010 05:50:24 GMT

@trumpet-205 wrote:
LOL

Here is a little background about me. I'm a college student who started on building credit history two months ago. Before that I had absolutely no credit history. So to be precise I'm not rebuilding a credit history. I currently have a Cap 1 Student Reward (unsecured, CL $500, util 13%).

My FAKO scores came from Credit Karma. You think I have a chance in the credit version?

yes and zync from amex and maybe citi forward

Re: Question about REDCard Debit Inquiry

trumpet-205 — Sat, 25 Dec 2010 06:08:46 GMT

Well I don't want to open that many accounts in such a short time, though a REDCard will be very handy for me. I don't know if I want to pull the trigger and risk for a credit version (another hard inq).

Does anyone know if Target do a hard-pull if you app for debit card version?

Re: Question about REDCard Debit Inquiry

Creditaddict — Sat, 25 Dec 2010 06:11:13 GMT

@trumpet-205 wrote:
Well I don't want to open that many accounts in such a short time, though a REDCard will be very handy for me. I don't know if I want to pull the trigger and risk for a credit version (another hard inq).

Does anyone know if Target do a hard-pull if you app for debit card version?

They probably pull your credit so they can say hey, we would give you a credit card instead if you wanted! lol

I really don't know about the debit card, but it's EQ for the credit card and in my experience they don't decline many... I Mean I have 4 of them and the most recent one was after I have filed both a ch 7 and 13 bankruptcy

Re: Question about REDCard Debit Inquiry

llecs — Sat, 25 Dec 2010 07:32:23 GMT

@trumpet-205 wrote:
I understand many people here have Target REDCard for building credit history and/or that 5% discount. I just started on building my credit history so I highly doubt that I can get a credit version at this time. So my intention is to apply the debit card version. Problem is that as I look through the application for debit card,

I don't see how the Target debit card helps your credit history any. I don't think it reports.

IMO, even if you had zero credit, I still think you're a shoe-in for the Target CC if you ever wanted it. Heck, I hate mine. You can have it. 3+ years at $200 and counting.

Re: Question about REDCard Debit Inquiry

trumpet-205 — Sat, 25 Dec 2010 07:39:54 GMT

I want the REDCard for 5% discount. I'll leave building credit to my Cap 1.

I guess I'll pull the trigger and apply a Target CC in store, after my second payment history is posted that is.

Re: Question about REDCard Debit Inquiry

llecs — Sat, 25 Dec 2010 07:45:27 GMT

BTW, if looking for a preapproval first, they'll give you one on your receipt from time to time. If you don't want to app now, but show there using a debit card, then keep an eye to see if there's a preapproval offer.

Re: Question about REDCard Debit Inquiry

RHAL — Sat, 25 Dec 2010 13:18:18 GMT

trumpet,

Where did you get that second score off of karma? I only know of the vantage score they give you.

Re: Question about REDCard Debit Inquiry

Smug — Sat, 25 Dec 2010 13:28:08 GMT

My fico score 686, my fake score 775, pulled the same day, so be careful.

Re: Question about REDCard Debit Inquiry

bostonte — Sat, 25 Dec 2010 20:57:12 GMT

There is no inquiry for the debit card.

Re: Question about REDCard Debit Inquiry

Anonymous — Sun, 26 Dec 2010 13:46:57 GMT

My Credit Karma Fako is 640. I was approved last month for the Target Redcard with $200 limit. Like you, I only want it for the 5% discount so $200 limit is fine with me.

Re: Question about REDCard Debit Inquiry

Anonymous — Sun, 26 Dec 2010 14:12:21 GMT

I say apply for the store card. I think you have a good chance to get it

Re: Question about REDCard Debit Inquiry

trumpet-205 — Mon, 27 Dec 2010 01:11:25 GMT

@RHAL wrote:
trumpet,

Where did you get that second score off of karma? I only know of the vantage score they give you.

For TransRisk, It's the first tab to the left when you log into Karma. For Vantage, it's the third tab.

@Others

Alright, I'll apply the credit version when I visit Target. I'll let you guys know the result.

Re: Question about REDCard Debit Inquiry

Anonymous — Mon, 27 Dec 2010 02:14:11 GMT

@trumpet-205 wrote:

@RHAL wrote:
Where did you get that second score off of karma? I only know of the vantage score they give you.

For TransRisk, It's the first tab to the left when you log into Karma. For Vantage, it's the third tab.

That's a beta feature that is only available for some users. I don't have that, either.

Re: Question about REDCard Debit Inquiry

ac921ol — Sun, 25 Nov 2012 01:02:46 GMT

Re: Question about REDCard Debit Inquiry

Anonymous — Sun, 25 Nov 2012 10:42:33 GMT

@trumpet-205 wrote:
So does Target pull your credit report even though you are applying for a debit card? If so is it a soft or hard pull? Finally if they do pull CR which one they pull it from?

There is no pull on your credit reports, hard, soft, or otherwise for the DEBIT CARD version.

I went through the same panic and questions before I applied, what they DO is pull a report on you through another vendor (not on of the credit report providers) on your check writing history, etc. I believe they use CHEX, althogh I'm not 100% sure on that - it may be another vendor.

Short answer: They check you out, but not through a hard or soft pull on your credit report through one of the big three CRAs.

EDIT: Found a good link that describes it here

There is no credit check (nothing that reports to Experian, Equifax or Trans Union). However, there is a process to validate the checking account status. When a guest applies for a debit card, Target does an internal check of check writing history, specifically at Target. In addition, Target receives additional information from a consumer reporting agency on overall check writing history.

Re: Question about REDCard Debit Inquiry

JonStur — Sun, 25 Nov 2012 12:39:17 GMT

I have all three with CK..Trans Risk, Auto Insurance Risk, and Vantage, I've always had all three options...

Re: Question about REDCard Debit Inquiry

kekrre — Sun, 25 Nov 2012 15:50:09 GMT

@JonStur wrote:
I have all three with CK..Trans Risk, Auto Insurance Risk, and Vantage, I've always had all three options...

Even in... 2010?