topic Re: Recent feedback on Target REDcard in Credit Cards

Recent feedback on Target REDcard

injustifiiable — Fri, 20 Apr 2012 01:25:40 GMT

Of course, I go to Target today and the nice lady asks if I "wanted to save 5% percent today" by applying for a REDCard

Luckily I had enough self control not to go through with it at this point in time, anyway.

Still though, I wouldn't mind having one I can SD till the beginning of the month when I go shopping there...besides, 5% off is always nice, right? Always plan on PIF since the interest is crazy high, like 22.90 or somethin'.

Would like some feedback on approval odds. Here's how I'm looking:

EQ is my cleanest report with the highest score (FICO 649+, 2 paid judgments, no recent late payments, 3 CA accounts (will be 1 once I get the bogus duplicate Midland entries off), 2 current revolving accounts with utilization <11%, 4 inquiries this year [2 HSBC, 2 CapOne], 1 paid charge/off that's set to fall off later this year.
EX and TU still have info that shouldn't be on them; working on getting them removed. Other than that, similar information from EQ is reported on those two.
HHI around $32K and monthly rent is $500.

I would imagine a few more months of on-time history would help me, so I wouldn't plan on applying for maybe 6 months. Not really concerned about CL since I only make small purchases there that I can pay off easily.

Any insight would be appreciated.

Re: Recent feedback on Target REDcard

mgs2010 — Fri, 20 Apr 2012 01:52:10 GMT

You'll probably get it. Just don't expect a nice limit, or any chance of a CLI. They tend to hand out 200.00 and 300.00 limits to basically anyone with a pulse. I got a 300.00 card from there not even 1 year post bk7 discharge. The discount is nice and all...but in the end, 5% really isn't much unless you're buying a TV or something or you shop there ALL THE TIME. for me though, I've used the card a little bit here and there but overall i shop at walmart over target because target tends to be a little more expensive. Go for it though, it would be a good card to have if you don't mind the high interest and the slim chance of ever getting a limit increase. good luck to you!

Re: Recent feedback on Target REDcard

heatblaze2010 — Fri, 20 Apr 2012 01:58:22 GMT

If you really want that red card why not apply for the debit version? and still save 5% each time

Re: Recent feedback on Target REDcard

Anonymous — Fri, 20 Apr 2012 12:41:32 GMT

I was actually at Target yesterday and saw a couple get enticed by the 5%.
Sadly, the husband told the wife to take the ding for it and have her apply so they could save the 5% on a whopping $18 purchase.

And she did it, and got approved for an incredible $200 CL.

Enjoy your savings of .90 and the nice inquiry on your credit report.

This is a nice alternative if you shop here a lot and in large quantities. Definitely would be a nice Black Friday 42-inch TV kinda card.

Re: Recent feedback on Target REDcard

tsquad131 — Fri, 20 Apr 2012 13:06:13 GMT

I only got approved for a $500 limit too 45k hhi and scores below no baddies a lot of new accounts and inquiries

Re: Recent feedback on Target REDcard

Adalen — Fri, 20 Apr 2012 14:07:35 GMT

Honestly, I will probably apply for the REDcard once I surpass 650. I had it a long time ago but closed it out, it's not even showing on my reports because that is how long ago it was. But I shop there ALL THE TIME now and always spend at least $50, especially when I'm picking up formula, way-too-stimulating baby toys and an array of batteries to go into all those toys. (Also spent $70 on new books for the baby at one point.)

Maybe I shouldn't get a Target card, haha.

Re: Recent feedback on Target REDcard

Creditaddict — Fri, 20 Apr 2012 14:49:50 GMT

I do find the limits and CLI and no customer initiated and no chance for a Visa upgrade anymore can get annoying but the 5% is VERY worth opening the account if you shop regularly at Target. and you can solve low limit and util reporting by checking out, walking over to customer service, and swipe card, look at receipt (I would like to pay $67.23 on my card, swipe debit and done PIF!

Re: Recent feedback on Target REDcard

Adalen — Fri, 20 Apr 2012 14:58:22 GMT

Yeah, actually The Children's Place is the same way (everyday 5% savings) and I think those are the only two store cards that I would benefit from, at the rate we're going. I haven't even tried for TCP yet but they are backed by Citi, which I've never dealt with.

Re: Recent feedback on Target REDcard

Creditaddict — Fri, 20 Apr 2012 15:03:35 GMT

@Adalen wrote:
Yeah, actually The Children's Place is the same way (everyday 5% savings) and I think those are the only two store cards that I would benefit from, at the rate we're going. I haven't even tried for TCP yet but they are backed by Citi, which I've never dealt with.

Lowes now has 5% back or if over $299 you can choose 0% for 6-18 months.

TCP?

Who backs Citi?

Re: Recent feedback on Target REDcard

RockinRay — Fri, 20 Apr 2012 15:21:53 GMT

I too had a Target Red Card witgh a $200 limit that I closed some time back.

Then last year, I opened a new Red Card account and was awarded a $2500 line. Here is what I did. Not sure if this had anything to do with the nice CL from them, but:

1. Open the Target Debit Card and still get 5% at checkout.

2. I used that Debit Card for 6 months.

3. App'd and got the $2500 CL.

It was straight forward. When you get the debit card, they ask you for your social and they track your spending. So for me, this worked out quite well. I use this card for Target purchases that are related to a small business that I run.

Also for the 5% discount. It can add up pretty fast. So far, this year on our Target Visa, we have saved $121 and change. That's cool and the savings are shown on the receipt.

Re: Recent feedback on Target REDcard

Adalen — Fri, 20 Apr 2012 15:33:03 GMT

TCP is The Children's Place. I spend at least $50 there with every visit, too. Luckily, I don't visit too often. Just when we can't reasonably squish the kid's thighs into his coveralls.

Re: Recent feedback on Target REDcard

lithium78 — Fri, 20 Apr 2012 16:43:19 GMT

I love my Target RedCard. I started with a $200 CL and they increased it to $1000 after a year. I use it every time I shop there and combine it with coupons whenever possible to save even more money. The 5% is really helpful on big ticket items like the 40" flatscreen LED TV I bought on Black Friday. I bought the TV off their website, so the RedCard also got me free shipping. 5% off is a good deal on any credit card you use.

Re: Recent feedback on Target REDcard

Mike360 — Fri, 20 Apr 2012 20:21:55 GMT

I made this post couple days ago on another target thread. IMO if you can get a good starting limit for couple thousand your fine but if you get $200-$300 to start which is what most people get then don't bother. They don't do customer initiated CLI and I've been a customer for like 4 years with 730 EQ fico and no increase. Even kohls (Capone) gave me a increase. The Target Debit Card links to your checking account plus gives you 5% off and no credit check needed. I wouldn't recommend that card cause of the risk but it's available.

Re: Recent feedback on Target REDcard

Anonymous — Sat, 21 Apr 2012 03:09:12 GMT

I thought they aren't giving out any new non-debit RED cards?

Re: Recent feedback on Target REDcard

Adalen — Sat, 21 Apr 2012 03:20:54 GMT

I looked on the site and it appears they only stopped giving the Visa REDcards for now. It still said you could app for the credit or debit in-store.

Re: Recent feedback on Target REDcard

Anonymous — Sat, 21 Apr 2012 03:42:35 GMT

@Adalen wrote:
I looked on the site and it appears they only stopped giving the Visa REDcards for now. It still said you could app for the credit or debit in-store.

Oh I see, maybe that's what I was thinking about. So you can still get the credit version, but it's for Target use only.

Re: Recent feedback on Target REDcard

frogfan12 — Sat, 21 Apr 2012 18:13:42 GMT

I love Target but keep reading about people getting insanely low CLs, which keeps me from apping. I want to tell the people at the register that too.

The card would definitely get used because I shop there nearly every week for groceries and I love their home decor as well. What kind of CL do you guys think someone with my scores/history would get? I have scores in the low-mid 700s, no baddies whatsoever, and my AAoA is 3+ years. Thoughts?

Re: Recent feedback on Target REDcard

Creditaddict — Sat, 21 Apr 2012 18:20:12 GMT

@frogfan12 wrote:
I love Target but keep reading about people getting insanely low CLs, which keeps me from apping. I want to tell the people at the register that too.

The card would definitely get used because I shop there nearly every week for groceries and I love their home decor as well. What kind of CL do you guys think someone with my scores/history would get? I have scores in the low-mid 700s, no baddies whatsoever, and my AAoA is 3+ years. Thoughts?

No telling with Target but I would think above $2k.