Target Red Card

[writerstale]

If a person shops at Target a lot is the Target Red Card worth getting? Also, what's the minimum amount of good credit history needed to get the card?

[Anonymous]

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@writerstale wrote:

If a person shops at Target a lot is the Target Red Card worth getting? Also, what's the minimum amount of good credit history needed to get the card?

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IMO, only worth getting if you need more ccs for score purposes (or need to carry balances at Target)  and even then it seems many people start (and stay) at a low CL.  Otherwise, for actual savings at Target, get the RedCard debit card, which gives the same 5% discount, free shipping and extended returns, without any impact to your credit report

[Shawndoe79]

Yes, In theory, only apply for cards that you are going to use, no need in wasting a inquiry unless youre going to use it.  Now there are other reasons for applying for cards, like sign up bonuses, cash back, utility padding, etc, thick profile blah blah blah, but you get my point.  The score for this card is usally around 615 and I think they pull EQ

[deltatee]

In my opinion, the Red Card credit card has very little value because they offer a debit card that also saves 5%. I wish more stores would have debit card offerings. The only other one I know of it Nordstrom

[ddemari]

Unless u are spending at least 100 to 200 there a month the overall yearly cash back doesn't add up to much. U do get free shipping though on all online orders, but it's nothing that great. If had on for over 2 years stuck at 300 dollars. Only card I have that's never seen an increase and it would even be a well deserved increase lol. 

[Anonymous]

Target offers two REDCard products - a credit card and a debit card.

The rewards are identical (5% back) as are the perks (free shipping). 

The only difference is that one is a debit card - they take the money right away - and the other is a credit card, so you have roughly a month of "float" on the statement. After that it's 22.90% interest. 

I'd strongly suggest getting the debit card - the credit card adds no real value. 

[disdreamin]

I got the Target Redcard credit card by choice - I didn't want the debit card as I didn't like it being directly linked to my bank account. This is for the same reason that I only have an ATM card and not a debit card on my main household checking account. I like the 5% savings, and I also like the Take Charge of Education kickback you can set up (our school earns something like $500 a year from it). My limit has never budged from where I started, which was $3k, but despite my minimal use - I put perhaps $150-200 a month through it most months - it's stayed the same since I opened it a few years back. Oh, and the free shipping is great. It really makes it easier when you just want a couple small things where shipping would usually be relatively astronomical! And at the holidays, the Target website is very nearly my one-stop-shopping point for out-of-town relatives.

[Anonymous]

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@disdreamin wrote:

 I also like the Take Charge of Education kickback you can set up (our school earns something like $500 a year from it). 

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Sadly, Target is ending that program.

http://www.startribune.com/target-will-end-school-charity-program-shift-giving-focus-to-wellness/327...

[disdreamin]

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@Anonymous wrote:

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@disdreamin wrote:

 I also like the Take Charge of Education kickback you can set up (our school earns something like $500 a year from it). 

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Sadly, Target is ending that program.

http://www.startribune.com/target-will-end-school-charity-program-shift-giving-focus-to-wellness/327423181/

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That is sad, but I can see the rationale. Our school didn't benefit from it greatly, but it seems that some schools did and they will really feel the crunch.

[Anonymous]

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@Anonymous wrote:

Target offers two REDCard products - a credit card and a debit card.

The rewards are identical (5% back) as are the perks (free shipping). 

The only difference is that one is a debit card - they take the money right away - and the other is a credit card, so you have roughly a month of "float" on the statement. After that it's 22.90% interest. 

I'd strongly suggest getting the debit card - the credit card adds no real value. 

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There is also the prepaid Redbird (now sadly no longer available for MS) which you can load (with cash or from your bank account) and then use.

For those worried about debit cards having access to their bank account, I just use one of my "minor" bank accounts, so even if was drained, I would be OK while waiting for the money to be restored.   Also it can only be used at Target and has some daily limits,