What's your Redcard credit limit?

Joined
Oct 18, 2014
Messages
339
I've come a long way, but I started at $300, now slowly climbing to $8000. Only took me 14 years...
 
0. I don't have a Target credit card, only a debit one. That way I make sure I only spend money I have. I get credit cards have their benefits, but a credit card that's limited to being used at one store seems pretty silly to me.

For credit I have a chase card and Apple Card
 
0. I don't have a Target credit card, only a debit one. That way I make sure I only spend money I have. I get credit cards have their benefits, but a credit card that's limited to being used at one store seems pretty silly to me.

For credit I have a chase card and Apple Card
Target credit card can be used in other places
 
I never had one when working there but last year applied for one over the holidays to get a discount on a tv. The limit they spit out was so idiotically high I just skipped the 5% and closed the card immediately. No need for anyone to carry a store card with a massively high limit like that, just asking for trouble if there's a breach.
 
0. I don't have a Target credit card, only a debit one. That way I make sure I only spend money I have. I get credit cards have their benefits, but a credit card that's limited to being used at one store seems pretty silly to me.

For credit I have a chase card and Apple Card
You can use them anywhere.
 
I never had one when working there but last year applied for one over the holidays to get a discount on a tv. The limit they spit out was so idiotically high I just skipped the 5% and closed the card immediately. No need for anyone to carry a store card with a massively high limit like that, just asking for trouble if there's a breach
Was the 2 point hit worth it?
 
I honestly don’t know. I have the Target Mastercard (previously was Visa). I miss the Target Visa card I had. It was so cool looking with all the bullseyes 🎯on it.
 
The red card is absolutely the worst credit card out there. High interest. No promotions. No rewards.

No thanks
 
When I got mine they gave me a credit limit of 3500 but called them and asked them to lower it to 500. They thought I was strange asking that. But ended up closing account since the interest did not justify the discount
 
When I got mine they gave me a credit limit of 3500 but called them and asked them to lower it to 500. They thought I was strange asking that. But ended up closing account since the interest did not justify the discount
Having a HIGH credit limit is GOOD for your credit score IF you don’t USE it.
Your credit score is partially calculated by HOW MUCH of your credit AVAILABLE to you is USED.

Therefore, charging a $500. TV on a $500 Credit LIMIT is very BAD Because you are USING 100% of your credit.
Whereas charging $500. On a $3500. Credit limit is NOT BAD because you are ONLY using just over 14% of the credit amount available to you.
Which would NOT harm your credit score nearly as much as the first case.

The discount is good ONLY IF you pay your bill in full every month.
I advised my sons to build good credit by charging at the register and immediately going to guest service and making a cash payment on the card.
 
Having a HIGH credit limit is GOOD for your credit score IF you don’t USE it.
Your credit score is partially calculated by HOW MUCH of your credit AVAILABLE to you is USED.

Therefore, charging a $500. TV on a $500 Credit LIMIT is very BAD Because you are USING 100% of your credit.
Whereas charging $500. On a $3500. Credit limit is NOT BAD because you are ONLY using just over 14% of the credit amount available to you.
Which would NOT harm your credit score nearly as much as the first case.

The discount is good ONLY IF you pay your bill in full every month.
I advised my sons to build good credit by charging at the register and immediately going to guest service and making a cash payment on the card.
I should of said savings not discount. Only had the card for about 2 months. Will not get the debit card because I do not want 2 cards tied to the same bank account.
 
I should of said savings not discount. Only had the card for about 2 months. Will not get the debit card because I do not want 2 cards tied to the same bank account.
Me too. Not a good idea to have too many DEBIT cards unless you have a good handle on your balance at all times. I DO have a lot of CREDIT cards though.
 
I never had one when working there but last year applied for one over the holidays to get a discount on a tv. The limit they spit out was so idiotically high I just skipped the 5% and closed the card immediately. No need for anyone to carry a store card with a massively high limit like that, just asking for trouble if there's a breach.
Shame.
You could have charged the TV, got 5% off, and then made a payment at guest service.
Your credit score took a hit when you OPENED it and went down AGAIN when you closed it.
I have many cards with ZERO balances that I don’t use but will not officially CLOSE them because closing accounts brings you credit score DOWN.
‘Better to HAVE the credit and NOT use it.
 
My credit score is 815.
(Opened 3 new cards this year cause they were offering opening bonuses and good rewards)
Target is good at 5% off but only use it AT Target. American Express gives 6% off groceries and 3% off gasoline

Redcard Mastercard has a $14,500. Limit. (I have never asked for it to be raised - think it has raised automatically a few times since I opened it)
With a current balance of $63. on it.
Balance due is paid on time, in full, every month
 
Shame.
You could have charged the TV, got 5% off, and then made a payment at guest service.
Your credit score took a hit when you OPENED it and went down AGAIN when you closed it.
I have many cards with ZERO balances that I don’t use but will not officially CLOSE them because closing accounts brings you credit score DOWN.
‘Better to HAVE the credit and NOT use it.

It is unwise to carry a 15k+ limit on a store charge card. I will take the few point hit instead of taking that risk.
 
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