Target Redcard NOT worth 5% discount

Where you can talk about store credit cards, like gas station cards, department store cards, etc.
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Posts: 323
Joined: Tue Mar 06, 2012 12:15 am
Location: Chicago

Postby Dylan1982 » Tue Dec 23, 2014 10:51 am

I don't get your scenario. I just opened up my REDcard ($3k CL) maybe 3 weeks ago made 3 purchases totaling ~$125 and before I got my "welcome packet" I had already paid my BIF...

Since then, I've used it for 2 more seperate purcahses totalling ~$130 and haven't had any problems.....
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

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Location: USA

Postby cardcustomerservice » Wed Mar 04, 2015 1:13 pm

I work for another bank that issues retail store cards. We have a special term for this called a payment float. This can happen on our cards if a customer is making a larger payment that is outside of their normal tendencies (large as in a high percentage of the total card limit) or if there has previuosly been a returned check payment on the account. The payment gets posted and is counted as paid, but it is not added to the available credit for several more days, due to extra verification done to ensure it stays cleared from the bank. It is not the same as say a fraud alert on a large transaction. It's just a hold to make sure the payment is not going to turn around and fail and then post as a returned payment, and then you would be over your credit limit because of having a failed payment and then all the new charges that were allowed assuming the payment was good. I would say that a low limit like $500 is creates some issues as even a not so large payment of around $400 could trigger the system to SEE it as a large payment (in relation to the total credit limit) and hold it for extra verification. It's always a good idea to check online (especially since most people have mobile phones with internet) that the available credit is showing before going in to make a large purchase, after paying a large amount to your account for instance.
Customer Service Rep for a card company

Chase Slate - $8000
Chase Freedom - $5000
Hyatt Rewards (Chase) - $2000
Citi Double Cash - $1000
UPromise Mastercard (Barclay) - $1400
Best Buy Credit Card (Citi)- $1000
Kohls Credit Card (CapOne) -$500
Target RedCard (TD Bank) -$1200
Walmart Credit Card (Synchrony) - $1000
Home Design Card (Synchrony) -$2000

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Joined: Fri Mar 06, 2015 11:30 am
Location: Seattle/WA

Get that $20

Postby felixishim » Fri Mar 06, 2015 11:32 am

I would make them give me a $20 bonus for all this as you did spend at Target

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