Target Upgrade

[Anonymous]

---

@Anonymous wrote:

Congrats on the upgrade.

Target is in trouble lately -- their stock has gone from nearly $80 to around $50 in just 6 months and they're bleeding out slowly but getting faster.

I'm guessing their analysts have told them to take a higher risk of chargeoffs by trying to tempt people into spending more money.  Not sure what their profit is on MC versions of their cards but I'm assuming that they get something back from the creditor even if people shop elsewhere, and this may help their bottom line enough to hopefully boost their bottom line.

The last thing they want to do is close stores, so getting people to spend more may at least put that off until they find a road to recovery.

You think credit rebuilding is tough?  Try keeping a national brand with thousands of stores afloat when income goes into the cellar...

---

I agree. Looks like they are showing signs of loosening their approvals as well, giving higher SL. 

[Anonymous]

Yep.

One thing to note is that chargeoffs won't affect their bottom line for at least 180 days to that point, and who knows how many stock reporting cycles that covers?

So boost CLs now, with a risk of future chargeoffs, but the bonus of maybe boosting spending today.  And who knows how Target reports spending on their Target MC outside of Target space?  It all could be helpful to boost stock confidence like "Our Target REDcard spending is up 18% and our in-store spending is up 9% on REDcards" which doesn't carry the disclaimer that "some of these accounts will likely charge off as soon as 6 months from now."

[Themanwhocan]

Who knows, some people might like using the Target Mastercard at other locations. Is it a true chip+pin card? That could be advantageous if true.

[Anonymous]

TARGET refuses to give me a card. Last app, called in and reps says too much bad stuff on my report...Letter came...too many inq. 

[CreditDunce]

---

@Themanwhocan wrote:

Who knows, some people might like using the Target Mastercard at other locations. Is it a true chip+pin card? That could be advantageous if true.

---

Yes, a true pin-n-chip card is the only reason I would prefer the MC version over the store card. 

While I am posting, I received the CLI (2,500->7,000) and upgrade letters too.

[Themanwhocan]

---

@CreditDunce wrote:

---

@Themanwhocan wrote:

Who knows, some people might like using the Target Mastercard at other locations. Is it a true chip+pin card? That could be advantageous if true.

---

Yes, a true pin-n-chip card is the only reason I would prefer the MC version over the store card. 

While I am posting, I received the CLI (2,500->7,000) and upgrade letters too.

---

Internet blogs seem to imply that the Target Mastercard is true chip+pin, and also has no foreign transaction fee. When someone gets their new card, it would be nice if they could check the paperwork to verify that this is correct.

[chfenton]

Same here. 4 years stuck at $3,600 usually paid off balance each month (which hardly ever exceeded $500).  Today increase to $7,500 and notice of MC upgrade for August 15th..

[Anonymous]

I thought all Redcards (different versions) were moved to chip and pin. I've had to put mines in since the new chip card came (AU account) and enter a pin. At least my DH and my moms were for the SC. Went through the paperwork for the MC upgrade that came, there's no mention of a foreign transaction fee at all. 

[Anonymous]

I got bumped from $1700 to $3000 this statement cycle. Saw that online before I got the letter in the mail, and I figured it was a MC upgrade due to the size of the increase. I got the letter in the mail, and I was right. The upgrade will take effect in August.

One surprise I did get with that letter is that they are now offering a rewards program for non-Target spending. 2% back on gas, dining, and travel. 1% back everywhere else. These earnings come in the form of a Target gift card one per year. This is the first I've heard of this, and I'm curious to hear if anyone else has received this offer.

Personally, I probably still won't use this card outside of Target. Among my credit cards, this is the last one I'd use for non-category spending. There are also several cards I'd use over this for gas, dining, and travel. However, it is nice to know that they're offering something for non-Target purchases now. 

[SunriseEarth]

---

@Anonymous wrote:

I got bumped from $1700 to $3000 this statement cycle. Saw that online before I got the letter in the mail, and I figured it was a MC upgrade due to the size of the increase. I got the letter in the mail, and I was right. The upgrade will take effect in August.

One surprise I did get with that letter is that they are now offering a rewards program for non-Target spending. 2% back on gas, dining, and travel. 1% back everywhere else. These earnings come in the form of a Target gift card one per year. This is the first I've heard of this, and I'm curious to hear if anyone else has received this offer.

Personally, I probably still won't use this card outside of Target. Among my credit cards, this is the last one I'd use for non-category spending. There are also several cards I'd use over this for gas, dining, and travel. However, it is nice to know that they're offering something for non-Target purchases now. 

---

Yes, my upgrade letter provided information on this.   I think the rewards program has been in effect for a while, but I haven't seen much discussion on it until the recent round of upgrades.   It could be useful when traveling internationally (Target has no FTF), but my Sam's Club also have no FTF and excels in all of the 2% categories.   However, the chip-and-pin feature could also be handy.

I plan on rare use outside of Target, mainly to make sure it works.