Holy crap! What a PITA!
With all the BS you went through they should have sent you a nice gift card along with that ridiculously small CLI.
Not that I was ever considering getting a Red card (wife has bugged me for one), now I am sure I never want one.
And now your story is on display for the world to read. The CEO and Red card PM should have done a better job of taking care of you.
I quit using both my target and meijer, no CLI on either...I quit asking and tossed them in the SD along with the others. 500 SL on eaach
You are much more patient than I. Thanks for sharing. Honestly, I'd be using a Target Debit card by this point if I was in that situation. If I didn't say FU like I did to Kohl's when they did some things I disagreed with (not credit, in-store policies).
I wonder...are they issuing major CC's again, or is it only a store card. I know that they did, then they stopped, then there was talk they would again. My Target card has been a Visa (I think when it came chip it may have switched to a MC or maybe that's just the artwork that was floating around.) But maybe that's the reason it's like pulling teeth even with those interventions.
I had $800 or $900 (can't recall) for years. When I found this site, I did the button for the CLI/updated my income and got up to $1300 on their next review (the way I read it here). I had pretty much SD'd the card when we got the Sallie Mae, so that was right about the time it started seeing zero useage, zero report. Recently I used it a few times. I'm not sure if it was before or after the recent use, I got an auto CLI to $2300. (Yeah, still sucks compared to most CLs, but it's usable.)
Anyway, if you have the STORE card, maybe it's worth asking your contacts about the major CC and if that'd make a difference.
In my OP I left out the issues with the Debit card and Prepaid card, though I did reference them in my email to Cornell. I just figured it wasn't substantial to the post and it was already getting very long. Unfortunately the cobranded credit card hasn't been offered in years and target cannot PC me without violating law (they could be and probably would be charged with discrimination if it was ever discovered). However, I noted to Cornell the following issues with both of the credit alternatives.
The first I'll address is the Prepaid card as it's the easiest. They don't offer the prepaid card in the state of Florida (where I live). I even checked if they offered it in Georgia, which would be the next closest state, should I ever decide to travel the 6 hours to the border. They don't offer the Prepaid card in GA either. There's evidence around the net that Target plans to retire and terminate the prepaid option in the near future. Anecdotally, money placed on the prepaid card grows no interest. The smartest leverage would be to plan exactly what you're going to buy, calculate the cost less the %5 then with state sales tax, and finally stand in line at customer service to load that amount, then shop and pay. Not exactly convenient.
The more complicated to explain is why I don't use the debit card, and never will. The first issue is security and fraud protection. I will NEVER link a 3rd party to my checking account as it's a direct link to my cash. Should Target, or any other entitiy with that information be compromised (as Target already has been) the theives would be able to ACH money out of my account or generate fraudulent checks. Cleaning up checking account fraud is no where near as easy as cleaning up credit card fraud. To me this risk is not worth a 5% discount. However, this isn't the only reason the debit card is not a good option.
The other issue with using the debit card is multifold. The first is obvious, it has to link to a cash vehicle. Money in checking accounts earns next to nothing and it's a waste to leave money sit in one. The second issue is the delay as it takes about 3 days for Target to finally draft, however they've been known to be erratic with this. There's also a sort of credit limit on the debit card which a lot of people don't know about. You can hit a spending threshold with the debit card based on Target's risk assessment as they don't immediately get the cash from the transaction, they have to ACH it out of your account. There's been cases where the debit card has been declined despite people having the money in their checking accounts. To make the debit card work for me I'd have to constantly move money from my savings into my checking which would likely trigger over withdrawl (not overdraft) fees as you're limited by US law as to how often you can take money out of savings.
I've aligned all my credit accounts so they're due at the same time. My pay is direct deposited into my savings and I make one withdrawl per month to cover all my expenses. I pay off my credit accounts, car payment, housing, and utilities at the same time. This allows me to maximize savings on my deposits. Complicated I know, but the system is convenient, easy, and net's me extra money in interest and investment margins. Target is the annoying outlier in my system.
Wow, wow, wow, is all I can say. Even CapOne's EI would have done something back in the day when that was the only route to get a CLI through them if you started out with a lower tier card with them. Hoop after hoop and doing backflips and somersaults at the same time.
I just recently got my first increase ever from $500 to $800. I have actually avoided shopping with them because of the hassle it is with their credit card. I have nearly $200,000 in limits and recently got approved for a card with a $12,000 limit from USAA, so it can't be my credit report.
Is the Red Card Red because it takes your blood.....?.....
Honestly, the limits on the RedCard suck. I opened it back in 2007 with a $700 limit. I never once received a CLI until I updated my income information around November 2015. Within a couple weeks, I got an auto CLI to $2,500. All things considered, I feel pretty lucky given what others have had to go through but $2,500 is still paltry compared to my other limits. With that said, we shop at Target weekly so I would not consider closing the trade line because the 5% is huge for my family.
Wow. That's crazy. I just opened my Red card in September and I've had two increases. From $300 when I was approved to $700 at Christmastime (late December) and just this month from $700 to $1200. No change in income reported.
We've had much the same experience with them. We opened our card in July 2015. The first CLI came a couple months later taking us from the SL of $300 up to $800. Th next CLI came just this month when they increased us to $1300.
How very strange.
I opened a card with Target in May of 2015. They started me with a $300 limit. I shop there frequently, but don't spend a lot, usually not more than $100 at a time. I paid in full for a couple months, then they upped the credit limit to $800. I continued doing what I did, and without asking, they upped it to $1300 where it's sat. These increases were within a few months of opening, maybe 6or 7 at the most.
I've carried a balance a couple times and have been charged a teeny bit of interest ($2-3 probably in a couple of cycles). I put a large purchase of $800 on it once, but paid it off right away to avoid interest charges. (This was after I got the $1300 increase ... I found a TV there I had been shopping for and the 5% discount put it cheaper than Amazon and Best Buy.)
As you can see, my scores aren't phenomenal, and they were worse when I opened this card, probably in the very low 600s at the time.
Sorry to hear it ... sometimes there's no explaining these credit decisions.
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.
|Total CL: $321.7k||UTL: 2%||AAoA: 7.0yrs||Baddies: 0||Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping|
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.