I am in rebuilding with 2 cards being utilized properly. My Fico is 678 last I checked and wanted to inquire about anyone with experience using a Target card. How do you like the card? Also, is it prudent for someone in rebuilding phase to get a retail card before a card with better terms. Moreover, would anyone know what type of fico score would be needed to obtain one.
I don't have the retail card, I have the debit card, but can somewhat chime in. I use the debit card all the time, I basically live in Target. i have a feeling i would feel the same way with the retail card as well. I think you would easily get approved for it, and no I don't think it's essential to have a store card when rebuilding. I think they just tend to be easier to get approved for which is why people get them.
I have the Target Credit Card and had it for years. I am a avid shopper of Target. I use the card to get the 5% off, along with, my cartwheel, and my coupons. I PIF each month. If you're an avid Target shopper might be worth it.
I was still rebuilding when I got mine, here is my post:
I decided on the Target debit card instead of opening another retail trade line, and I get the same 5% discount and free shipping as the credit card. Per advice found on these forums, I opened a separate checking account (no-fee no-min balance CapOne 360) and linked it exclusively to the Target card, to minimize any possible fraud damage. I keep only a month's worth of Target shopping funds in it, replenishing as needed.
If you are just interesting in savings at Target, rather than getting a credit card for rebuilding, the debit card is fine. However, you can get slightly more savings buying discounted target gift cards from a reseller. Just checking now, it's not huge: you can get cards at 5.5% off, and so buying those with a 2% cc raises the discount to over 7%. Which might not be worth the bother. But Target app makes gift cards very easy to use
At times, you get much better discounts than 5.5%