I don't know what report they pulled yet, but I just applied online and was approved for the Target Visa at their highest APR (18.9) but with a $6,000 credit limit! That's going to make my ratios look great when it hits my report. Has anyone successfully called and negotiated a lower rate or a balance transfer deal with this card?
Congrats on the Target approval, I can't answer your question though, because I don't have the card. mindy
Thanks. I'm pretty happy about it because the $6,000 limit is more than all of my other credit card accounts combined with the exception of my Providian Visa. I'll call them when I get the card and try to get the rate lowered.
did you print the account # information when you got your online approval? if so... customer service number is 888-755-5856. you can activate the card before it arrives in the mail if you call from your home telephone number... might as well get it reporting to help your ratios right? from my first call to customer service, the rep said that your credit limit and apr assigned during approval were for life... no reductions of APR and raising credit limits ever according to her... I'm going to wait a few days and make my second call to confirm that... otherwise it will be a card I never use...
Yes, I did print the confirmation so I guess I'll give them a call tonight when I get home. I've yet to see the credit card where the initial terms are the best you'll ever get, so I hope the information the CS rep gave you isn't true. I guess though that with no annual fee you can easily afford to put this card away in a drawer just to get that bump in your ratios. I may have missed it in another thread, but if you don't mind my asking -- what were the terms you were offered with a 700+ score?
$12.5 K CL, but a shitty 15.9 APR.... they pulled TU (most everyone does in Chicago) which was 762 on my last report....
I just checked Creditexpert.com and found that Target pulled Experian. My score on Experian's creditexpert.com site was 666 as of today. I'll know tonight how much it went down because of the inquiry.
bkev- you got bad info. My partner and I both had Fields and Target cards, were upgraded to the Target Visa. I got a $6k limit, he got a $4k limit, both at 18.9. I called, my limit was upped to $7.5 and both rates were lowered one notch to 15.9%. From what I could tell, they can (at least for existing customers) raise a little and lower a little. I was told flat-out that almost nobody gets the 9.9, very few get 12.9, and most get 15.9. The last rep I talked with (today) said it's set by the computer, is score-driven (and no, he didn't know the score requirements), and the rate can't be over-ridden (except for that one-time "one-notch" rate decrease). We're long-term customers (I go back almost 20 years)... and I used to work for Dayton Hudson in my college days (yes, in credit .... in new accounts!), so after 6-9 months or so, I'll start a letter-writing campaign. I have to say - they are doing an amazing job with this card launch. A retail card that offers tiered rates - as low as 9.9 - with a rewards program - that's really revolutionary! -mj
Well -- I called the Target Visa folks tonight and spoke to a CS person. When I asked if a better rate was available, she asked me to hold for a few seconds and I could hear her typing away at her computer. She came back on and said she couldn't offer a better rate at this time, but after a few months of good payment history I should call and ask again. No mention about the initial terms being "for life".
