TD Bank/Target Circle Card - Unexpected CLD

[99BMWM3]

Woke up this morning to an email alert from Capital One CreditWise that my total credit limits had decreased... and it turns out my Target Circle Card (TD Bank) was slashed from $1,200 CL down to $500. I received no warning or communications of any kind from TD warning me in advance, nor have they sent me anything yet today to explain the adverse action. 

I called and the rep on the phone had no info to give me either. I went ahead and just closed the account. 

The last statement generated was 3/19/2025 when I paid it off, so it's just hit 13 months dormant. I'm guessing that's the reason, but I I've never had a lender not send a warning email/letter to the effect of "use it or lose it!" before. 

Not really a loss per se as I stopped shopping at Target for other reasons, but it's still a blow to my overall metrics / util scores / etc. The account was only 2 years old too, so I kinda hate closing an account that young. I guess it'll still age on my CR for a few more years at least?

Heads-up though to anyone with a Target Circle card... maybe keep an eye on your CLs. 

[GZG]

the real advice is just to use the debit card, most of the benefits, none of the hassle of TD as a terrible CC issuer, IMO

[bs1234]

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@GZG wrote:

the real advice is just to use the debit card, most of the benefits, none of the hassle of TD as a terrible CC issuer, IMO

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Agree (except those that need the credit card for rebuild or something).   Also, to the OP, it seems that many institutions now do CLDs for non-use without notice.   Chase still gives "use it or lose it" warnings but many don't.   Not sure what is the majority now.

[99BMWM3]

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@GZG wrote:

the real advice is just to use the debit card, most of the benefits, none of the hassle of TD as a terrible CC issuer, IMO

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I did some Google-fu before posting to see if others had this happen, and came across a few old threads of people saying the same.

Target also doesn't do 0% offers IIRC, so the card doesn't really have any luster vs the debit (which I also have in the sock drawer). Realized TD doesn't allow CLI requests on the card either, which is lame.

Besides, I've changed my behavior a lot in the 5 years since BK7 and am living somewhere on a spectrum between Dave-ish and The Money Guys advice... aka no more revolving debt. Cards are fine, but PIF every month. So a debit RedCard is just fine. If I'm going to stress about a lender, I'd rather worry about getting off AMEX's BL so I can have my Delta card back. Baggage fees are insane nowadays and I fly a good amount...

[radiofrequencies]

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@99BMWM3 wrote:

I guess it'll still age on my CR for a few more years at least?

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Closed accounts in good standing stay on your credit reports for 10 years and continue to age and contribute to your aging metrics. When it falls off your reports, it will be 12 years old and your other accounts will be 10 years older by then so you probably won't see any score change when that happens.

[ladybug2016]

@GZG  Sadly, they discontinued the debit card ☹️.  It was great.

Sorry about your CLD and having to close your card OP, @99BMWM3 

[GZG]

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@ladybug2016 wrote:

@GZG  Sadly, they discontinued the debit card ☹️.  It was great.

Sorry about your CLD and having to close your card OP, @99BMWM3 

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the reloadable account is discontinued, the debit which connects to a bank account you own for funding is still alive