WaMu actually offered a co-branded card through Associates National Bank, but that deal ended about when Citibank bought Associates. For a number of years, WaMu didn't offer credit cards at all. I agree that they are moving up in the world.
Target doesn't offer their VISA card to customers with FICO scores below 660. The average FICO score for their VISA card holders is 785. There's a presentation Terry Scully did on their criteria, and I was like, "wow."
Their store card limits are a total of 1% of their issued limits, which basically means that while they do extend credit in the subprime market, it's a very small percentage of their portfolio (but what you tend to hear most about on the various consumer credit forums).
So yes, I guess that means you're prime.