Wondering if anyone experienced making Target Redcard cash payment in Target store and having it held for 14 days? This just happened to me. The card is 6 - 7 months old. No lates. I always pay at the store in cash. I called and hold was immediately released. Rep said she has seen cash payments held up to 15 days. Rep said mine was held because it was the largest payment ever received on the account. The payment was PIF $249. Just wondering if TD Bank (who issues this card) has such a policy because I was moments away from opening another account with them and now I think I should run.
To be clear - the payment was promptly posted but was not made available for 2 weeks. Long time for a cash payment made at the register.
That is one of the stupidest things I've ever heard of in credit. What were they waiting for, for the cash to clear your bank account? Had to make sure the cash wasn't counterfeit? 🤦♂️
This happens to me also with cash and debit card payments. I was told my account has a 'Watch Code' on it because I was making too many payments at Target.
Last year I was driving Uber and I had the Uber Debit Card and tons of bills (mostly on retail credit cards at that time). Say if I cashed out $62.02, I would go in Target and pay $22.02 on my Redcard and get $40.00 cash back.
I was buying Chick Fil A and Wendy's gift cards and small simple snacks with my Red Card to get the 5% off.
This worked for a little while and now my account has the 15 day hold on payments unless I call in.
Also beware, they'll only release the credit twice per billing cycle. If you make a 3rd payment during the cycle, they won't release it sooner than 15 days.
I am employed, I'm not Ubering and I never to never shop at Target as a result.
@Ronaldmorgan1982 thanks for the heads up. Seems like my relationship with TD Bank/Target Redcard is off to a rocky start.