I won’t knock store cards - my first card was a store card, and I feel like it was instrumental in helping me build a nice credit profile. It’s about to turn 2 years old, and it’s oldest card and now has a $10,000 limit. It started out with a $1000 SL and being Synchrony, it grew very well. It has ongoing 6 month 0% promotional financing on purchases of $299 or more, which is fine, but I’ve never used. What I have used is the $50 off $250 purchases a couple of times and they offer $100 off $799 purchases a few times a year too, which I haven’t needed yet, but I’m planning utilizing it the next time they offer it to order the parts to rebuild an engine. Mine co-branded with Synchrony Car Care, so until I got into Cash Back cards, I used it exclusively for gas, parts stores, mechanic and tire shops. I cycled a bunch of money through it, and got a lot of good offers on it. I don’t use it as much now, but it offers enough to always keep it open.
For me, if they benefit you and offer something your normal cards don’t, go for it.
For me, if they benefit you and offer something your normal cards don’t, go for it.
Lots of good responses, guys. I can appreciate the mixture of perspectives. I think I will keep the idea of a store card in my sights, but will reconsider it later down the road- perhaps, closer to the next holiday season. It sounds to me as though the Red Card is decent and I believe Target has remained a good quality of a department retail store. Lowe's could also be considered, as even before now I have heard good things about their card as well. Please keep pitching opinions in, the more insight the better!
I have the Target Red Card, but the debit version. It's literally the same thing as the credit card, besides the obvious difference: one comes out of your bank account, and one is credit. It does take a few days for the money to come out of my Wells Fargo account, but I always use it when I go to Target. Unless, of course, Discover has their Target 5% category, then I use that one.
