Target Credit Card
By living4fire on
The Target Credit card is an ok card.When I first applied i started with a $300 limit which was good for only a instore credit card (which the cashier forgot to mention to me when i went through the application process, otherwise i wouldnt have even done it).About 2 months later it was up'd to $500 instore credit card, and probably a few more months and it went to a wopping $5,000 limit (big jump, eh?)yeah it was nice to see such a big credit limit increase is what i like about target's credit card's.They do automatic increases on limits periodically which will increase your credit score.(do i use that $5K, no not nearly).
So its a snazzy card that is shiny whoa ahhh.However the interest rate is higher than many might appreciate if your not make payments in full every month (which i am, so it is not really relevant to me).They give you a 10% off your entire purchase when you are first approved and every $1,000 after that you get another 10% off, which my last one i received I didnt even use and it expires after about a month or two.I mean a measly 10% sounds cool and all but in reality its hardly nothing at all as far as rewards cards go.I would consider another card if I was to do it again, only because the rewards for this card are not that all great.overall it is an ok card and i havent had any problems with it.
I have contemplated appling for this card but I always say no everytime because I live in that store so I know it would be maxed out in a heart beat! That is a big raise though in your credit limit!
I am glad that you are not using the total $5,000 limit and are paying it off every month. It is sooo easy to get into trouble with these types of cards. I agree that 10% is not much of a reward... especially with the high interest rates to eat it up in no time!
After having several store cards, I now avoid them totally. I get better APR and perks using my Visa. Most financial advisors suggest strongly that we avoid them. I love Target and know myself all too well. It would be maxxed out in a heartbeat.
Target was the first credit card I ever got. I like having it now because you get special coupons in the mail with your monthly bill - and i"m cheap, lol, and love coupons!
Sounds like a good credit card as long as you handle it like you do. Very good advice.