Reasons for Target Redcard low credit limit

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Reasons for Target Redcard low credit limit

Postby nishant » Fri Dec 21, 2012 5:49 pm

Target card gives 5% discount and free shipping.

Target card credit limits are typically only 5% to 7% of what other credit cards generally give. So if you have $2000 visa credit card, you may get $150 with Target.

Is the intent of such low credit limit to make sure that card holder does not buy high value items and get single item large discount?

Does anybody have $5000 credit limit with Target?

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Postby trumpet-205 » Fri Dec 21, 2012 5:51 pm

Myself has $300 limit, but my dad has $7,500 limit.

Target is conservative, they got burned real bad during recession.
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Postby hematino » Sun Dec 23, 2012 12:26 am

My Target REDcard does have a low limit too at $700, but I'm fine with that. Although I did buy an LED television from them a year ago, I don't make enough big purchases at Target frequently enough to really need an astronomical credit limit that can only be used with them. I'm grateful for the card though, the 5% discount is pretty generous compared to most store cards and many regular credit cards.
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Postby Gamma » Sun Dec 23, 2012 1:13 pm

When I applied for the redcard, I was instantly approved with 2k limit and a 1 year history with citibank (5k limit) and bank of america (1.5k limit, now closed)

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Postby MemberSince99 » Tue Dec 25, 2012 8:53 pm

They are conservative with limits. I got 1k. I don't need more so I'm cool with that, though I wouldn't complain. It is after all a department store card so what are you really gonna buy. The only way I could see even 300 being a big deal is if you wanted to buy a TV. Otherwise, should be sufficient.

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Postby sonofagunk » Wed Dec 26, 2012 8:15 pm

I am kind of glad for the lower limit (even though mine is $2200). I do not feel that the redcard has the same protections that "real" credit cards have. I would be worried that I lost my card and someone ran up $10K at target and they came after me for it

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