Archived Another New REDCard!

[RedMan]

Got two letters from Target this weekend. First one said my credit limit was being raised. Yeah, as if I'd ever spend more than a few hundred at Target, right? I need a several thousand $$ credit limit at Target.

Next letter informed me that my current REDCard credit card would become a MasterCard soon. It can be used anywhere MasterCard is accepted and I'll still get my 5% discount at Target. hmmm

Years ago I had a Visa/REDCard. I signed up for it online and when it expired, it was not replaced. Then when I started working at Target, I signed up for the REDCard.

Anybody else hear about this? Think it'll be easier signing up people for a MasterCard? Will approvals go up or down?

 

[lovecats]

I've had my Target MasterCard for a few months now. Just paid it off and shredded it. My interest rate on the thing was 17.99% and the card I used to pay it off with had a special of 0.0% until next April and then the regular rate is only 9.99% so it was basically a no brainer. If I do drive down to Target (20 minutes away) I just use my check card anyway.

 

[Flabbergasted]

I still have my regular Target REDcard (credit) that I applied for back when I was a TM, and I use it on a consistent basis. However, I pay the balance in full each month and have never given a dime of interest to Spot. I keep it for the 5% and for credit score purposes.

I don't want them to convert mine to the MasterCard 'cause that would just encourage me to spend more money at other stores, and I barely make anything as it is.

 

[PassinTime]

Do get anything for using ut at other stores? Most MC give at least 1% cash back or miles.

 

[Blackbutler42]

I've had a target credit card for a while. Wouldn't want them to make my credit card a master as i also have 2 other credit cards to pay off.

 

[Blackbutler42]

Do get anything for using ut at other stores? Most MC give at least 1% cash back or miles.

If they do make it a MC they'll probably have some kind of rewards if you use it outside of the store. That's what best buy did when i worked there.

 

[redeye58]

Do get anything for using ut at other stores? Most MC give at least 1% cash back or miles.

No, just the 5% off at Target.
@Flabbergasted: I'm the same except that mine was converted to a MC but I still only use it at spot &, like you, I pay it off every month.
Spot gets enough from me as it is.

 

[Blackbutler42]

No, just the 5% off at Target.
@Flabbergasted: I'm the same except that mine was converted to a MC but I still only use it at spot &, like you, I pay it off every month.
Spot gets enough from me as it is.

If you pay off the minimum payment does the store charge you interest? Because my minimum payment statement was only $27 and i only payed that

 

[Flabbergasted]

If you pay off the minimum payment does the store charge you interest? Because my minimum payment statement was only $27 and i only payed that

Yes. You have to pay the entire statement amount for no interest to be charged. Otherwise you are receiving a "loan" from the bank (Target) and loans are never free.

 

[Blackbutler42]

Yes. You have to pay the entire statement amount for no interest to be charged. Otherwise you are receiving a "loan" from the bank (Target) and loans are never free.

Crap. I guess when i go back i'll just pay it back in full, since the bill isn't due till july

 

[Hardlinesmaster]

It will help your credit score for early payoff every month.

 

[AmICrazy]

I have had a Target Card for more years than I can count, but always try and pay it off before the due date. I first started out with the regular card and then was converted to a Visa Card and then of course a MasterCard. I also have a Target check card, but only use it to get cash back, as I don't like to have to reconcile 30 or more transactions per month on bank account. I just do a once over my MasterCard statement for anything that looks out of the ordinary.

 

[catrainer]

The old Visa cards are being rebranded as a Mastercard with the Chip update.