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Target RedCard CLI by Request

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Anonymous
Not applicable

Re: Target RedCard CLI by Request


@Anonymous wrote:

Wow! You have a lot of patience. Im sure your credit score and credit cards are way better than mine. 2 weeks ago I applied for Kohls credit card and thought for sure I was going to get declined because of my inquiries. I wanted to get that 25% off no matter what. To my surprise I was approved for 500.00. The next day I decided to apply for the Target Redcard. I applied before and was denied so I took the chance. To my surprise again I was approved for 2000.00. I still don't know how. My husband has the Redcard since 2012 for only 600.00. No increase what so sever. 


More evidence of Target, the predatory lender Smiley Sad

Message 21 of 34
Anonymous
Not applicable

Re: Target RedCard CLI by Request

I use it as a 5% discount card. No need to stress out over asking over and over for something they don't do. My Target red card was opened with $300 then increased to $800 where it stayed for like more than 3 years. Walmart has similar items for less most of the time and I can use any of my "better rewards cards" there to keep accumulating points or cash back. The 5% discount is good on some items on sale once in a while. They are quite the opposite of Synchrony Bank!

Message 22 of 34
Anonymous
Not applicable

Re: Target RedCard CLI by Request

I have gotten 4 CLI in a year, and my scores are mid 600-700 with 10-15 Inq on all 3.

 

$500 SL

$1000

$1700

$2200 just from last week

Message 23 of 34
xvassagox
New Contributor

Re: Target RedCard CLI by Request

Had my DW apply in store and she got approved for $2500. She has scores in the 750+ range. I'm not sure if the system asked for income, but if so, it would have been above 100k. After reading the thread, I don't think she'll ever get an auto cli.


Sock Drawered -
Equifax Bankcard 8 - 830 - 4/21 | Experian Score 8 - 812 - 5/26 | TransUnion Score 8 - 810 - 5/1
Message 24 of 34
Anonymous
Not applicable

Re: Target RedCard CLI by Request

i had app'ed and had gotten a $300 SL back in oct 14. used it over and over for small purchases and kept a running balance on it. fast forward to now and its grown to $2,300 the CR mentioned i should update my income on the webite from time to time and they would review my account. its helped and gotten me a higher limit. its not much but better than the SL i started with.Smiley Wink

Message 25 of 34
Anonymous
Not applicable

Re: Target RedCard CLI by Request


@Anonymous wrote:

I've thought about posting this story for months because of how hard it is to get a CLI from Target. Though as a result of my months long communications with Target management I learned a bit about how their system works. Whether or not to share this info has weighed in me.

I first got my RedCard in 2013 and was granted a $200 credit line. About four months later they auto cli my account to $400. Then again to $600 about five months after the first bump. Though my cl sat there for about 2 years.

When I discovered credit karma I began to notice just how bad this low cl was impacting me. I shop a lot at Target, so much so that when I call customer service I get moved to the front of the line. My low cl forced me to pif multiple times in a month to keep below my cl. Target was reporting my balance mid cycle which killed my utilization on this card. Typically I'm less than 10% util on all my cards. As a result, if I hadn't paid my balance before the 18th my credit score would tank about 30 points until the next reporting cycle.

I called customer service numerous times because I was sick and tired of having to pif several times in a month. And especially having to keep an eye on the date to make sure a payment would post before the report date. Every time they told me the same thing, only auto cli and to update my income.

I finally got to the point I was considering closing the trade line. As a professional I couldn't wrap my head around why this was such a pain. I thought, if you want to change something systemic like this you have to go to the top.

I drafted and sent an email to CEO Cornell and plead my case. I described the frustration of having to make multiple payments, the effect of the low CL on my credit, and my questioning of the long term financial benefit of the card. Sure 5% is great, but if the use tanks my score before applying for a loan it could cause me to get a higher interest rate. I pointed out that Target markets the card as a decision that makes good financial sense. However their policies are causing financial harm.

I closed my letter describing why I prefer Target, my thanks for his time, and requested that he intercede on my behalf or forward my email to someone who could help. I never expected to get a response from him, but I was hoping he'd forward my email. I know the effect an email from the CEO has on employees.

Two days later I got a call from the RedCard project manager. I returned her call and we spoke pleasantly for a bit. She said she'd checked on my account and noted I'd recently updated my income. She said things looked good and to see what happens on my next cycle cut.

A month later I called her again and left a VM. My cycle had cut the week previous and there was no increase. She called back and advised she'd look into it with the risk department. It took some time but she did reply and advised that the reason the system didn't increase me was because I paid off the card before the cycle date.

I was then told to wait another month and carry a balance. This was hard to pull off, which may seem strange, but I buy a lot with Target and make payments to keep my purchasing power. I didn't want my score to tank to I let about $90 carry. A week later there was still no increase so I called the PM again.

We chatted a bit when she called me back before getting to business. She let me know that the analysts said the reason the system didn't increase me is because I didn't carry enough of a balance. I reiterated the effect carrying a high balance has on my credit score. She stated that they look every month and if I decide to carry a larger balance I might get an auto cli. I sensed she was giving up, but I'd come too far. Having looked at the credit pulls database I noted that new customers with far lower credit scores were getting initial cls multiples higher than mine. I decided I'd bite the bullet and carry a higher balance, I wanted to force a discussion among Target's management.

A month later I carried a 550 balance. My credit score tanked 40 points with EX and TU as reported by credit karma. Still no increase. I called the RedCard PM again and left a VM asking if she could check on my account and get back to me. A week went by and I got no response so I called again, another voice mail.

After a couple days of no response I sent Cornell another email. I detailed all the hoops I'd jumped through, the months of waiting, the drop in my credit score, and the irony of the pains a loyal customer like me has to go through. I shared some personal stories and asked again if there was anything he could do.

A few days later I got a call from a now frustrated PM. She left a VM advising she was traveling but had been authorized to give me a small $300 increase to $900. My heart dropped when I listened to that VM.

When I first got the RedCard I made less than 50k. In the years since my income has almost trippled. As a result my spending has increased incredibly. While my efforts for a cli succeeded it was a hollow victory. The increase I got was paltry and nothing in Target has changed.

It's been 6 months since my increase and I'm still having to pif multiple times a month. Was it worth it?

With luck my story will help others with understanding Target's crazy credit ways.

 

EDIT:

 

I've closed out my RedCard.  It was once one of my favorite credit cards but over time became nothing but a hassle and an irritant.  Reviewing comments here, on other boards, credit pulls database, and in store observation has led me to believe Target is a predatory lender.  Target is reknown for their statistical abilities even accurately predicting pregnancy.  

 

Their credit extension system seems to favor those most statistically likely to carry a balance.  Given the RedCard has a 23+ APR that is potentially quite lucrative.  Of course, those with the capability and statistical probability to PIF are only a loss (the discount and account maintenance costs) so why encourage their spending with higher CL's?  It's cheaper to encourage them to use cards with transaction fees less than the discount.  The World Elite Mastercard transaction fee is less than 3% and American Express is less than 4% (I'm sure at Target's volume they get a sweet deal on transaction fees).  It's disgusting really when you think about it and has colored my view of Target.

 

Best of luck to all the RedCard holders out there.


I simply can't fathom how carrying a balance on a Target RedCard can impact your credit score THAT much, especially given the card profile you have displayed in your signature. 

Message 26 of 34
Anonymous
Not applicable

Re: Target RedCard CLI by Request


@Anonymous wrote:

I have gotten 4 CLI in a year, and my scores are mid 600-700 with 10-15 Inq on all 3.

 

$500 SL

$1000

$1700

$2200 just from last week


Similar track here.

 

$300 SL

 

--> $600 after 3 months

--> $1400 

--> $3000 at last statement cut

 

I've had the card for approx 9 months.

 

If you want to get your CLI automatically, spend more. They've been paying attention to our spending and increase our limit as we go. It was a pain at first since I would spend $300 and PIF during the month then spend over again. Eventually the limit caught up with spending.

 

I've never carried a balance (the APR is ridiculous compared to other cards)

 

So yeah at first the limit was low for us...we have a baby + one on the way, diapers diapers formula etc, but they've clearly got an algorithm or manually review spending patterns and auto increase

Message 27 of 34
egaithe
Regular Contributor

Re: Target RedCard CLI by Request

I've been with them for 10 years. $1300 is my limit. Stayed at 96% util for years, once I paid it dow, they gave me $300 a few months ago.


@Anonymous wrote:

congrats on the small increase.    im just shocked with this target card.   i work for target so they push us to get people to apply.   ive seen so many people   old, young, ghetto etc  and ive seen limits at $250 all the way to $3000.  i know i shouldnt judge someone by their appearance  but i once i had a girl all tatted up with like 4 kids apply and get $3500 limit   i was beyond surprised.    this card is so inconsistent with its starting limits..


 

EQ-660, TU-687, EX-646
Goal: 750s in all
Message 28 of 34
belle6m2k
Regular Contributor

Re: Target RedCard CLI by Request

I agree with the predatory lender hypothesis. When looking at people who have had increases and post their credit scores on their responses I noticed much lower credit scores than mine. I am 760-almost 800 on all three bureas and have been stuck at 200Cl since 2009. I use it at least once a month and PIF. This card is gettig canceled!

Message 29 of 34
NGeorge
Valued Member

Re: Target RedCard CLI by Request

I know this is an old thread but I've been working on my utilization on my accounts as well. In 2009 I got a RedCard with a $200 limit and used it just as a grocery card, paying everything off but $10 each month so there was 'something' to show. My score was in the high 500's at the time. Around 2013 when my score was in the low 600's it jumped out of the blue to $1000 and its sat there. I'm now up in the upper 600's but it's still at $1000. In 2011, my partner got a RedCard with a CLI of 1000 in the low 600's right off the bat. His jumped to $2500 and sat there when he had a score about the same as mine is now. 3 months ago he got a CLI to $4500, then within a week got a letter they were converting him to a Target MasterCard (apparently they are offering major cards again -- when I first got involved with Target they dropped the Visa within a year of me getting my initial $200 limit) - - and then in January jumped him to $6500. At this point he is probably 20-30 points higher than me (he's low 700's) - - difference is that he doesn't have any student loan issues like I do (a few late payments and a collection). It's funny what 20-30 points do, and I'm trying to get there... Being in the high 600's vs low 700's is a huge difference. His Discover has jumped to 14000, Capital One to 8000, AmEx SPG to 16000 and Best Buy Visa at 8000 - - while my Discover sits at 2500, Capital Ones at 1000 and 700 respecrively, Target non-MasterCard at 1000 and old Continental Finance that I've kept around as my oldest trade line at 850... AmEx still won't touch me for anything (assuming it's because of the collection) even though I'm now in the range that they supposedly start to 'accept'.

So I'm glad I found this.. Will keep doing what I'm doing with the Target card and see if it has a magic CLI at some point...
Message 30 of 34
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