Target REDCard Review

Written by Robert Ferry on August 20, 2022
Target REDCard Review

The history of Target Corporation is very long. The first store of the corporation was opened in 1962 in Roseville, Minnesota. The purpose behind giving the name "Target" to the company was to keep away the customers from the idea that new discount stores and department stores have different meanings. After two years, in 1964, another huge target store was opened.

With time, Target Corporation progressed and developed a reputation in the heart of people. Target REDCard is a store card with multiple forms such as a charge card, debit card, and credit card. Most store cards are closed-loop cards, meaning you cannot use them outside the mentioned places. Like other store cards, Target REDCard only works at Target stores and Websites.

As a debit card, your amounts will debit to your checking account as savings. Moreover, the card works like a credit card which you can use to perform your payments, make withdrawals, access the bank, and many more. As a credit card, Target REDCard has a Mastercard logo on it. You can use the card anywhere Mastercard is allowed.

All three forms of the card make it the number one choice of customers around the U.S. It creates integrity in the performance and use of the card. The major benefit of the REDCard by Target is the frequent users of the card. It gives them a 5% discount on all their purchases except a few. The card offers free two-day shipping availability and an extended return policy of 30 days.

Card members can enjoy special events through Target, its products, services, promotions, and more. The card does not mention any specific credit limit to qualify for the card. But customers experience the credit limit according to their income and credit score. Explore more about the Target REDCard by reading the article.

Features of Target REDCard

Target RedCard provides its users unique perks and benefits. The card is best for users who make many purchases from the tag. Let's look at the highlighted features of the Target credit card, and after that, we will discuss them in detail.

  • Rewards rate: 5% discount on all purchases of Target store or the Website.
  • Welcome Offer: Unlimited Cashback Match                          
  • Recommended credit score: Good to Excellent
  • Purchase Intro APR: None
  • Balance Transfer Intro APR: 0%
  • Regular APR: 22.90% Variable
  • Annual Fee: $0
  • Foreign Transaction Fee: None
  • Balance Transfer Fee: None
  • Late Penalty fee: $28 to $39
  • Best for: Frequent shoppers at Target stores and Website

No Annual Fee

Target REDCard is a store card, and the card charges no annual fee. If a card has no annual fee, you are free to make purchases without worrying about any membership fee. You can easily use the card and avail of its perks and benefits. Enjoy the card with your purchases and spending without balancing any annual fee. If you make your balance payments on time, you can keep the card at home and pay online with the online Website of Target.

Fee Structure

Target REDCard is a store card, so when you use it as a Mastercard, you will not have to worry about foreign transaction fees. The card does not allow users to transfer balances inside or outside the U.S. If there is no balance transfer and foreign transactions, the card will not charge any fee. However, the card charges a late penalty fee of $28 to $39, which is very high. Remember to payoffs payments on time, so you will not charge with late payment fee.

Late payments can catch you in debt; instead of saving money, you can lose your savings. It's better to keep an eye on your balances, contact customer service at Target, and protect yourself from additional fees and charges. With late payments, your issuer will not report something good about your credit score. It's good to pay off balances quickly, and building credit reports to major bureaus will not be good. And you will fail to build credit level.

Credit Score Requirement

The Target REDCard Credit Card requires users to have a good to excellent credit score. A good to perfect credit score ranges from 690 or above. All banks and credit cards have different requirements for credit history or credit score. Although credit score matters for your approval, it's not the only thing important. The issuer needs to track your income, expenditures, and other factors.

The card offers a 5% discount on all eligible purchases from target Score and the Website. You can get this discount offer at your checkouts, so there is nothing to worry about regarding rewards and accruement. The card will transfer your savings to your account, and you will get time savings. The card does not offer a 5% discount on some products such as Target gift cards, Optical eye exams, prescriptions, and prepaid cards.

Earning Rewards

The Target REDCard provides users with the opportunity to earn 5% off on all Target products, whether you purchase in-store or online. If you earn discounts on your purchases, the company will add your savings to your account automatically at checkouts. Remembers, some products are not eligible to come under the 5% discount offer.

You cannot take a 5% discount on some gift cards, Target Optical System, and prescription items. You can have the option of keeping discount offers more significant to others so that you can save a lot. Moreover, the card offers other discount offers ranging from 5% to 50% off. You can earn the discount on categories like merchandise and use them for eligible purchases.

Advantages of Target REDCard

  • The card offers a 5% discount on all purchases from Target stores and the Website.
  • It offers free two-day shipping on Target's Website.
  • It offers extended returns for in-store or online purchases for thirty days.
  • The card offers relationship rewards for its customers on the basis of their loyalty and better relations with the company.
  • It offers a 5% discount on gift cards.
  • It offers a 5% discount on the shipment for the online order on the same order and delivery day.

Valuable Discounts

The Target REDCard offers its cardholders a 5% discount on all eligible purchases, which makes the card worthy of buying. For frequent users of Target stores, Target REDCard is a wonderful credit card. This 5% discount offer is also eligible for gift card categories such as travel, movie tickets, and restaurants. You can also get a 5% discount on all purchases from Starbucks shops and centres located within the coverage of Target.

The card offers several perks and benefits to its cardholders. If you are good at making timely payments, you can avail yourself of these perks and benefits efficiently. You can save a huge amount of our income without any annual fee. Target REDCard is the best credit card for making yearly savings.

Additional Perks at Target

The Target REDCard has different perks and benefits, which are additional to what the card offers. You can get extra perks at Target, such as offers, promotions, and early access to sales offers. Other than being a frequent user, you can get an additional valuable history.

Store cards do not offer high rewards rates, and Target REDCard is a store card, so you cannot expect many rewards from the card. The card provides free shipping opportunities to its cardholders. You can take a free shipping offer for your two-day shipments after spending $35.

Moreover, you can take These discount offers applicable on certain food items if you spend $25 or more. Target REDCard offers several discounts offers so that users can balance their rewards and regular APR. If a card offers shipping perks, it's not always important that you approve.

Bill Pay Benefits

The process for paying the REDCard bill is very easy. Target provides four convenient methods such as in-store, online, using phone, and email. All these methods are simple, and users get to know more about their bank accounts, credit products, payments, transaction history, and many more.

If you have a fair or bad credit score, you can build your credit level and save a lot of money on a monthly basis. The card charges no annual fee, late payment penalty, or foreign transaction fee, so it's a great chance to keep the interest rates low and maintain payments with discounts.

Disadvantages of Target REDCard

  • The 5% discount on Target's products does not apply to some items.
  • The card requires a high APR.
  • Non-cardholders of Target REDCard cannot take benefits and rewards of the card.
  • Users must have a good to excellent credit score to qualify for the card.
  • The card charges a late payment penalty if you fail to make timely payoffs.
  • The card does not have unlimited redemption offers.

High APR

Similar to other store cards, Target REDCard requires an APR of 24.40%. Variable valuable high-interest rate requirement. The card requires users to maintain a high APR of 24.405 variable. If you failed to keep your payments, you came with high-interest rates.

Can Only Be Used for Target Purchases

The Target REDCard has amazing perks and benefits, but it has a drawback of not offering benefits to users who don't make purchases a lot. The card offers discount offers and many perks to users with a lot to shop from the Target stores and the site. The card is an amazing toy to play with it.

How to Manage a Target Credit Card

Target REDCard is similar to other credit cards. There is no difficulty in using the card. If you are a beginner and wondering how to use the card, the process is not different from other credit cards. If you have a Target Mastercard, you can use the card everywhere Mastercard is accepted. If you are using other Target REDCard, you can use them at Target stores only.

How to Make a Payment on the Target RedCard

Target REDCard will show you which form of card you are using. After knowing the usage, you can easily use your target REDCard. There are four ways to make a payment with a Target REDCard. They are:

By Phone:

You can call the customer support team of Target at the available contact number on their Website 800-659-2396. You can use the automated prompts on the call or speak to a representative of Target guest service. After your request, the bank will transfer your payment within two business days.

In-Store:

The card offers a 5% discount on all purchases made from Target stores or the Website. You can visit the bank and speak to a representative at the Guest Services desk of Target. Bring your Target REDCard with you and have your billing statement. The attendant will see your account number and transfer it to an employee. He will then accept your payment and send it to your account.

By Email:

Another method for making payments with Target REDCard is by mail. Target sends a monthly paper statement to its card members. You can use the middle part of the statement and tear off the rest of the part. If you are using mail, you must send your payments six or seven days before your due date to avoid a late payment penalty.

Send the mail to the following payment address:

  • Target Card Services
  • P.O. Box 660170
    Dallas, TX 75266-0170

Always add your account number to your payment, so your payment records remain in the bank. And your payment head will know how they can credit your account.

From Website: You can visit the company's site "Target.com. Choose RedCard and click on the "About" option. Now choose "Manage My RedCard" and provide your username and password for logging in to your bank account. When the screen appears, click on the Payment information tab and select the "Schedule a Payment" option. This is how your weekly or monthly payments will schedule according to your ease.

From the above methods, choose the best one for you. The card does not charge any fee for using a method of payment. You just have to pay off your payments on time, or otherwise, you will have high-interest rates with high APR.

How the Target REDCard Compares to Other

Target REDCard, with its amazing discount offers, stands separate from other store credit cards. With Target REDCard, users get opportunities to spend more money on purchases. Not all store credit card provides users with these kinds of offers. It is an excellent opportunity for frequent shoppers to earn rewards and save money on high spending.

If you want to know more about store cards and how they are compatible with Target REDCard Credit Card, take a look at the given comparative study.

Target RedCard™ Credit Card vs Amazon Prime Rewards Visa Signature Card

Amazon Prime Rewards Visa Signature Card offers users 5% cash back for purchases at Amazon.com or restaurants and 2% cash back at gas stations, dining, and drugstores. Users can also get 1% cash back on all other eligible purchases.

The card is a good choice for users who spend more on food items and products such as drugstores, restaurants, and gas stations. You can easily redeem your cash rewards at 1 point for 1 cent. The redeem points can be used only on Starbucks, Olive Garden, and several merchants to exchange gift cards.

If you want to redeem your cash points on gift cards, you must have 2,500 points in your account. The card does not offer any foreign transaction fee. You can waive your car rental damage if your car rental service faces any accident or damage. The card also offers Travel Accident insurance and Emergency Assistance.

On the other hand, Target REDCard offers users a 5% discount on all eligible purchases made at Target stores and the Website Target.com. You can use the 5% discount offer on the special codes. The card charges no annual fee. You can avail of the extra 30 days offer of returning policy and return the products if you don't like them.

Target RedCard does not have a welcome bonus but requires users to have a good to excellent credit score ranging from 690 to above. Users have to maintain a regular APR of 22.90% variable. The major factor is on-time payments because you can lose your savings if you lose any payment. Moreover, the card offers a free shipping program through which you can make two-day shipments with your credit card.

Target RedCard™ Credit Card vs Capital One® Walmart Rewards® Card

Target REDCard offers its users a 5% discount on all purchases made at Target stores and the Website. Users can use the 5% discount offer on the special codes. You can use the extra 30 days offer of returning policy by Target. If you don't like the products, you can use the policy and return your products. Target RedCard does not have a welcome bonus.

The card requires users to have a good to excellent credit score ranging from 690 to above. For Target REDCard, users have to maintain a regular APR of 22.90% variable. The major factor is on-time payments because you can lose your savings if you lose any payment. Moreover, the card offers a free shipping program through which you can make two-day shipments with your credit card. The card charges no annual fee.

Capital One Walmart Rewards Card is somehow similar to Target REDCard. The card does not have an annual fee. Users can earn 5% cash back on Walmart applications and websites such as Delivery and Grocery Pickup. It also offers 2% cash back on travel and restaurant purchases and 1% cash back on every purchase where Mastercard is accepted.

Unlike Target REDCard, Capital One Walmart Rewards Card has a welcome offer. Through this intro offer, new cardholders will get 5% cash back on their purchases at Walmart stores for the first twelve months. You can also use online, mobile, and application banking so that you can easily access your account, balances, transaction history, and many others.

Target RedCard™ Credit Card*vs. Citi® Double Cash Card

With Target REDCard, users can get a 5% discount on all purchases made at Target stores and the Website Target.com. Target REDCard credit card charges no annual fee, so you don't have to worry about the yearly membership fee. The card also offers an extra 30 days option of returning the policy. If you don't like products, you can return them in a month.

Target RedCard does not offer a welcome bonus but requires users to have a good to excellent credit score ranging from 690 to above. Users have to maintain a regular APR of 22.90% variable. The major thing to remember is on-time payments. After losing any payoffs, you can lose your savings. Moreover, the card offers a free shipping facility through which you can make two-day shipments with your credit card.

On the other hand, Citibank Credit Card offers its card members 2% cash back if they spend on Purchases. You can also earn $200 cash back if you spend $1,500 within the first six months from the date of opening. The card offers 0% intro APR for the first eighteen months. After 18 months, you have to maintain your regular APR of 16.24% to 26.24% variable without any annual fee.

The card requires a good to excellent credit score ranging from 670 to above. If you are not a member of the bank, you can still earn 1% cash back for spending $1 on your purchases. With the Citi Double Cash card, you have to pay a balance transfer fee of 3% or $5 in the first four months. After that fee rate will increase to 5% or $5. The card also charges a 3% foreign transaction fee.

FAQs

1. Is the Target REDCard a Credit Card?

The Target REDCard has several forms. It is a charge card, debit card, and credit card simultaneously. You can use the charge card of Target REDCard at its stores and on the Website. The credit card of Target REDCard has a Mastercard logo on it. You can use it in any store, Website, or merchant where Mastercard is accepted.

Target REDCard is also a debit card, and you can use the card to debit your purchases from your checking account that is attached to the card. From all these forms of Target REDCard, you can only get a 5% discount on purchases from Target stores and the Website.

2. What is Needed to Apply for a Target Credit Card?

Applying for a Target RedCard is an easy process. You must provide information to your issuer if you want to apply for a Target Credit Card. The information includes:

  • Social Security number (SSN)
  • Name
  • Address
  • Date of birth
  • Driver's license number
  • State ID number
  • Annual gross income. It will include all of your income for the year without taxes.

3. What Is Credit Score Needed for a Target REDCard?

There is no limit of any minimum credit score for the approval for the Target REDCard mentioned by Target. Usually, banks approve credit holders of fair credit or credit level more than 600 for approving store cards. Some banks also approve credit scores lower than 500. If you have a low credit score, you can get approval for Target REDCard but the interest rate you will face is high. Also, the card can require a low credit limit from you compared to other credit holders of high levels.

4. Is a Target REDCard Helps Build Credit?

The Target RedCard works as both a credit card and a debit card. If you are using the card as a credit card, your issuer has to send reports of your payments to major bureaus. They have to keep track of your timely payments. It is a good way to build good credit but remember to pay off your balance amounts quickly or on time.

5. Can I Change My Target REDCard Payment Date?

Yes, you can change your Target REDCard payment dates very easily. If you want to coordinate your payment or want to settle a scheduled date, you can contact the Customer Service of Target. The representative or agent of Target Guest Service will solve all your inquiries and will provide you with answers. You can call on the following numbers:

Conclusion

The Target REDCard works as a charge card and a credit card. You can use the card as a charge card for Target Purchases and also as a credit card at every place where Mastercard is accepted. The card offers a 5% discount on every purchase made at Target stores only. Although the card does not offer any rewards structure, if you are a frequent user of Target stores, your savings will add up.

Compared to other store cards, Target REDCard charges a high-interest rate. The drawback of the card is that if you fail to pay your balance payments on time, your savings from discounts will no longer be available. Target REDCard is a good choice for users who are frequent shoppers of Target and pay off their balance amounts on time. They will get a 5% discount on every purchase with any annual fee.

  • Target Mastercard: 800-424-6888
  • Target Credit Card: 800-659-2396
  • Target Debit Card: 888-729-7331
Article written by Robert Ferry
We are an unbiased knowledge center for finance and our goal is to help you make your own, educated decisions about getting your credit life turned around.
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