Approval Chances Target RedCard

[Anonymous]

Just App'd for this message:

Thank you!

Your application is being reviewed. We will notify you by mail within 7-10 days.

I've read they usually pull TU my TU Fico8 is 630 as of today. I know I have a long way to go rebuilding my credit which is why I app'd for a store card vs an actual credit card.

I have 5 CA's (I know all from 2011-2013)

As of today:
Discover Secured $400
Secured Personal Loan $600

Still waiting to come in the mail:

CapOne Secured $250
Kohl's Charge $300

Do I have any hope or just pretty much denial?

[creditguy]

More than likely a denial, might be time to take a break on the apping and build up the cards you recently acquired. Those collections are going to haunt you until they start falling off, some lenders won't touch you with five collections and you'll start wasting and racking up inquiries further hindering your rebuild, just take a break and use what you have, don't start doing the 1 step forward 2 steps back game by apping too much.

[Anonymous]

Yeah I guess I was just in the zone after my Kohl's approval haha

It's a pretty unusual situation because it's pretty hard to get up to 630 with 5 collections weighing you down. You know?

[Anonymous]

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@Anonymous wrote:
Just App'd for this message:

Thank you!

Your application is being reviewed. We will notify you by mail within 7-10 days.

I've read they usually pull TU my TU Fico8 is 630 as of today. I know I have a long way to go rebuilding my credit which is why I app'd for a store card vs an actual credit card.

I have 5 CA's (I know all from 2011-2013)

As of today:
Discover Secured $400
Secured Personal Loan $600

Still waiting to come in the mail:

CapOne Secured $250
Kohl's Charge $300

Do I have any hope or just pretty much denial?

---

I would stay away from Target if I were you..

You may be better off with department store cards... Macys, blommies, Nordstrom, Lord and Taylor. Build from those nicely, and you will be on your way.

[creditguy]

Yep it can be tough with 5 collections, but adding a bunch of inquiries and new accounts won't help either. It can be a good feeling to be approved and want to continue that streak of luck, but that train comes to a halt soon enough. Time and patience is sometimes all it takes to get you where you want to be and there's no substitution for it and there's no shortcuts.

[Anonymous]

Spintech - I'd have gone elsewhere but the main places I shop are Kohl's and Target I never reall shop at Macy's or others only maybe once a year, if that. I'm at Target twice a week haha

[Anonymous]

Omg just got a call from Target asking verification questions because I recently moved.

$300 SL card will be sent out 7-10 days.

I won't be apping for anything until at least 12 months from now.

[Anonymous]

So happy right now gonna keep my cards maintained and hopefully in a year I'll join the 700 club.

So happy right now

[nrm]

Congrats!

[Anonymous]

I just saw this this thread, and before scrolling down, figured 99% odds you were approved. Congrats!

Target store credit card is relatively simple to get. However, for those with low scores, it's extremely helpful to have some other active trade lines reporting, which it appears you do. To add a datapoint, they pulled my Equifax FICO 8 report with score of around 613 with baddies when I was approved; SL only $300, but better than nothing, since it's a card I regularly use.

On an aside, in my view, the credit card is far superior to their debit card, which can easily lead to one overdrawing their bank account, since one's available bank balance isn't queried in real-time; purchases aren't immediately deducted. With the Target store credit card, that's a moot issue.

Again, congrats. 5% off most all purchases (some very limited exceptions) add up. And after a few months of usage, you should get a modest CLI.