Got Target visa today.

Applied on-line and was immediately approved for $10K at 15.9% fixed apr. and a rewards program. I did not activate the card as I was upset about the apr. being too high.

I know that this new card has been discussed on the board the last month or two. So it is no secret that depending on the customer's credit profile the card comes with an apr. of...

9.9% 12.9% 15.9% or 18.9%.

So why did I get stuck with 15.9%. I am almost certain that Experian was pulled. This is my best report since my last negative came off in July. Although I do have 3 inquiries on it at this time.

I called customer service and threatened to cancel the card. The rep was polite and offered me the 12.9% rate. I accepted and was informed to call back in 10 days when I get the card and activate it over the telephone. When I activate, to be sure and remind whomever I speak with that I am entitled to the 12.9% rate. The rep put a note in the computer database to make a record of our agreement.

When I call - I intend to try and negotiate again for 9.9%. If I don't get what I want, I intend to send correspondence in a year to the Executive office via PlanetFeedback requesting the 9.9%.

Also, I was told that my $500 Guest card will be cancelled. This is fine with me as I have too many open accounts. Next year I will close a few accounts in order to bring my credit profile closer to the optimum FICO model.

I chose the silver color over the red.

BTW - In Nov. 1998, I filed for Chap 7 BK. I had only 2 retail cards survive the BK. Each had a $600 credit limit. The same month I received my Cap One $1K secured card. Those were dark days for me. Today, I have $58,000 in available revolving credit and one car loan that will be paid off in 14 months. /// Thanks in good measure to the Board.

Best regards,

Jim

 

I will keep you updated.

Your apr. at 18.9% is way too high for your credit profile. However, when I read through the prior threads on Target visa, I got the strong impression that Target is giving out high credit limits but with a high apr. I only recall seeing one post where a writer actually got the 9.9%. I am making a point of waiting to activate the card by telephone in order to negotiate. Also, I believe that we cardholders get one 10% discount each, when using the card on the internet or on a direct purchase.

3 years ago, I would have paid a credit card company to give me a card with these terms. Of course no credit company would have. LOL

Jim

 

Thanks for the insight!

I may have got stuck with that original 15.9% apr. in part due to all of the new credit I have opened in the last 11 months. We really don't know, but all that new credit of yours may have "temporarily" set back your Target application.

Congrats on the new credit and good luck on the upcoming Target application.

Jim

 

You have got that right! LOL

But I have to be humble here and admit that there was a time when I was thrilled to get the $500 Guest card. Actually, all my visa, mc and LOC are at the 10 - 13% rate except...

Capital One / 10K / 9.9% fixed apr.

Thanks for the support.

Jim

 

Hi GEORGE!

I don't carry a balance much so I have less qualms about a 12.9% card than you do.

Hey on another subject. I saw you reference Hinshaws on another thread. Did you shop in Arcadia or Whittier or both? When I was younger, one of my girlfriends worked at the Arcadia store. I have fond memories of the place. LOL

Jim

 

My g.f. worked at the Arcadia store. She was a San Gabriel girl. Close to home for her.

Sounds like we have both had some good times in the past.

But we are optomists - LOL - The best is yet to come.

But it was nice to be 20!!!

Best regards,

Jim