Target Debit RedCard Questions

[Anonymous]

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@Anonymous wrote:

I was interested in this card as well: Here is the info on the application though:

Important Information about the Target Debit Card

The Target Debit Card is issued by Target Corporation and can only be used at Target stores and Target.com. If you’re approved for a Target Debit Card, we will withdraw theamount of your transaction from your deposit account at another financial institution.
In connection with your Target Debit Card, we may request consumer reports from consumer reporting agencies, and we may report information about your Target Debit Card application, transactions, our experiences with you and how you have handled the Target Debit Card to consumer reporting agencies. You should read the Card Agreement for complete terms and conditions of the Target Debit Card.

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Even with the debit card, Target is technically offering you credit -- since they are allowing you to pay for goods prior to them getting paid.

I presume they do at least an identity soft inquiry on application, and that they might also check something like ChexSystems to see if you passed bad checks or electronic debits.

In addition, should your debit be declined, they will engage in some form of collection activity to collect the debt -- so they need to know who you are.

[bichonmom]

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@RockinRay wrote:

For me, I started with the debit card. Used it weekely at Target for groceries / stuff. Then, I decided to apply for a Red Card and was instantly approved with a $2500 line. Prior to this, I had a Red Card with a $300 line that I closed.

Point is, I think although they do not report debit card, they do get your social when you sign up. Then they must keep track internally how you spend and handle the debit card.

In my case, we already had the Target Visa card and I wanted a card in my name. It worked out quite well!

Depending on how much you shop at Target, the 5% can add up quickly.

Ray

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That's good to know, Ray. Target wasn't on my radar for a card, but I may get the debit card to eventually progress to the credit card, which if I'm right is 5% back everywhere. I know there's no guarantee, but it sounds like it may help and definitely couldn't hurt, as long as you keep the acct. in good standing.

[trumpet-205]

5% discount right away, not 5% cashback. You get the savings right away, excluding gift cards.

If you have reusable bags bring them with you to save 5 cents per transaction.

[UFGuy2006]

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@trumpet-205 wrote:

5% discount right away, not 5% cashback. You get the savings right away, excluding gift cards.

If you have reusable bags bring them with you to save 5 cents per transaction.

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+1

[RockinRay]

And we also really play the coupon game with Target. They will stack their coupons with manufacturer coupons so you can save big time.

If you get prescriptions filled there and pay with a red card, after 5 refills, they send you a card good for an additional 5% for a day of shopping.

We have learned how to play the game here and most weeks, we save from $45 to $80.00!

Ray

[Elated]

Ray,

How long did you have your Target Debit Card before you applied for the Red Card? 2 days ago I was approved for their debit card, and am interested in applying for the Red Card in January once I close on my new home.

Your help would be most appreciated.

Thanks!

[Elated]

GP8, it can also be used at Target.com according to the employee who signed me up for the debit card 2 days ago. 

I hope this helps!