Target CC Question

[Anonymous]

Last year Target hit me with a balance chase CLD from $1600 to $400 shortly after the pandemic hit. Since then it hasn't gotten a single CLI from that $400 CL even though I've gotten approved for many CLIs and new Cards with much higher spending limits since then. The Target card's age is at 39 months, so it will cause a slight decrease in my AAoA which is at 24 months if I choose to close it. I shop there quite frequently and have put lots of spend on it and PiF every month and still won't budge.

Would it still be worthwhile to close this card, wait a couple of months (or whenever they decide to roll out another generous SUB for it) in hopes of re-applying to get a higher SL, or even better, the MasterCard version?

[coldfusion]

No.   TD Bank will keep the records and history of your current card for years - you won't be forgotten.

I've never heard of anybody getting the Mastercard right out of the gate.  You start with the store card and if they deem you worthy at some point down the road they will upgrade you at their sole discretion.

[FinStar]

To add to @coldfusion's comment, if you don't want to deal with the credit card version anymore, you can always obtain the RedCard Debit card (which draws directly from your deposit account). There are SUBs for the Debit version (IIRC) and you also get the 5% savings. No balance chasing or CLDs because any purchases are debited from your deposit account. Of course, it's your decision on whether you want to keep it in the hopes that a CLI in the future is possible. If you close it, no AAoA impact for a very long time (up to ~10 years in most cases). 

And, there is no MasterCard version out-of-the-gate as mentioned upthread. For the last decade or so, everyone starts with the retail version. In the old days (circa 2000), one used to get the option of the Target Visa (now MC) or the retail card.

[Anonymous]

I closed the Debit Card version of it because they took upwards of a week to transfer money from my checking account every time I made a purchase. Very annoying.

The main reason why I'd want to close and re-app is to try and get a higher SL. The $400 limit on my current card is almost useless.

[Anonymous]

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@Anonymous wrote:

I closed the Debit Card version of it because they took upwards of a week to transfer money from my checking account every time I made a purchase. Very annoying.

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To some, that would be a useful float feature!

[tcbofade]

FYI, DW has had the store card for nearly nine YEARS and they JUST granted her first CLI, followed shortly by the letter that says she's being upgraded to the MC version.

It could be a while.  

Good luck!

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I closed the Debit Card version of it because they took upwards of a week to transfer money from my checking account every time I made a purchase. Very annoying.

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To some, that would be a useful float feature!

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Not really, because if my balance dipped to under the purchase amount at any point before the debit cleared resulted in a NSF fee from my bank.

[Anonymous]

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@tcbofade wrote:

FYI, DW has had the store card for nearly nine YEARS and they JUST granted her first CLI, followed shortly by the letter that says she's being upgraded to the MC version.

It could be a while.  

Good luck!

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I ended up getting several in the first 15 months or so of having it. Originally it was a $300 SL which got CLI's to $500 > $700 > $1200 > $1600 every couple of months. Stayed at $1600 for about a year before getting hit with that CLD then nothing.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I closed the Debit Card version of it because they took upwards of a week to transfer money from my checking account every time I made a purchase. Very annoying.

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To some, that would be a useful float feature!

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Not really, because if my balance dipped to under the purchase amount at any point before the debit cleared resulted in a NSF fee from my bank.

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I just use a separate bank account accessed only by that card, and add funds when needed.  

[FinStar]

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@Anonymous wrote:

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@tcbofade wrote:

FYI, DW has had the store card for nearly nine YEARS and they JUST granted her first CLI, followed shortly by the letter that says she's being upgraded to the MC version.

It could be a while.  

Good luck!

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I ended up getting several in the first 2 years of having it. Originally it was a $300 SL which got CLI's to $500 > $700 > $1200 > $1600 every couple of months before getting hit with that CLD then nothing.

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Another thing that could be playing as a factor is the number of new accounts you've obtained in the past 9 months. They may be hesitant to yield a CLI given the previous [AA/CLD] -- unless you cycle a lot through it for the next several months, and your recent new accounts age off.  You'll have to test the waters and see.