Target Red Card -- STINGY with CLIs!

[Pigeyex]

Thanks, everyone.  Sounds like Target is just stingy -- PERIOD.  Except maybe if you're just now opening up a brand new account with them.  It would seem that their standards were VERY stingy way back when, and then they simply do NOT raise you much, if ever.  And now maybe their standards are looser, but ONLY as it applies to a new account -- not a CLI on an old one.

Strange.

[Creditaddict]

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@Pigeyex wrote:

Thanks, everyone.  Sounds like Target is just stingy -- PERIOD.  Except maybe if you're just now opening up a brand new account with them.  It would seem that their standards were VERY stingy way back when, and then they simply do NOT raise you much, if ever.  And now maybe their standards are looser, but ONLY as it applies to a new account -- not a CLI on an old one.

Strange.

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it's a business model that doesn't make sense but I have just about given up trying to make sense of companies trying to keep good customers anymore... that doesn't seem to exist.

[Reincarnated]

I'm totally against Target at this point.

Denied 3 times for their store card, resulting in 3 hard pulls for NO REASON. Their customer service is HORRIBLE. The worst I've seen in any establishment.

On the other hand, it's their loss. I stopped shopping at that dumpster a long time ago. Major banks have approved me for a Credit Card, and it's pathetic that Target didn't give me a chance. Whatever, I'll continue to enjoy my AMEX/Discover/Bank Americard. Who needs Target.

I advise you stay away from them.

[Pigeyex]

I love their stores.  SO much better than Wal-Mart (although more expensive), and I usually get good service in there.  I just find their credit card policies to be nuts.

[B335is]

I make a point of doing all Target orders through Ebates (usually 2% off) plus Redcard (another 5% off) and free shipping. I agree and don't shop at the store any more.

[TiggerDat]

I think that because of the fact that Target was more of a store than a bank, they didn't really want to deal with large sums of outstanding credit too much.  I think they had a blanket way of dealing with it.  With a low limit their exposure was reduced and it encouraged people to use the card like a charge card, not a credit card.  With the rewards being 5% this encouraged shopping and brand loyalty which would make up for the lack of huge limits with them.  It did insure that those who used the cards responsibly and heavily over the years got some increases, I am certain they had some formula for determining that.  Those that carried a balance probably also got some increases depending on their payment history and how much money they were making off the customers who did this.  Remember it had to offset the cost of operating the credit cards and the discount and still allow them cash flow for continuuing operations. 

That being said, now that TD has the accounts there will probably be changes when they start to realize a profit from overtaking them and Target fully releases all or most controls to the accounts.  From what I understand it that right now, even though they are TD accounts, Target still has a tight control on them until later this year.  It probably has something to do with insuring that all of the accounts at Target have been properly identified as performing or not performing or something similiar to that.  I think when the MC version is released we will start to see changes in CLIs and conversions.   While I don't really care too much to have the MC version it would look nicer in my wallet.

[Anonymous]

Creditaddict - amend I too can not figure what companies do to treat customers right.

[Anonymous]

Thanks for posting this. I just asked for a CLI for my Red Card ($200 limit since opening account in 2009) and I got the standard "We review accounts for increases" runaround from the CSR. Glad to hear it's not just me, and that Target may just be super stingy or just weird about increases for longtime Red Card holders.

[DomoNomo]

Targets a hit or miss with their credit limits I think for most people, but for me, I got a good limit.  It's not limited to $200, $500, and $800.

[ptilda]

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@Pigeyex wrote:

Anyone have any luck getting a CLI with their Target card?  After getting an automatic CLI from $500 to $800 early on with them, I can't seem to get ANYTHING since.  They haven't raised it on their own (despite a perfect payment history with them, and my credit scores improving from the 500s to the 690s), and I've been denied twice when calling to ask them.

For a company with PR problems related to the big data breach last year, I don't understand whey they are so conservative in their CLs.

Anyone have any tips or suggestions?  I have a $200k+ income, great job, 10+ years AAofA, 25+ years oldest account, great debt-to-income and my scores are all in the 690s.

thanks,

Pigeye

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Another reason I don't like Target. They think they are high-class and act fancy, but just end up isolating those of us who might actually benefit them by being their customers. Let me deal with WalMart any day. Better customer service, Free FICO scores, generous auto clis, financing, free shipping/store pickup options, and cheaper prices for the same stuff!