Yep... me too. I actually started with 500 and was a bit disappointed.. but getting 18.9 to 12.9 the first month made me feel better. I now look on these things as relationships. I don't need just any card, I only need cards I can grow into superprime Cap1 comes to mind RNB just may be a good contender since it's no annual fee, a reasonable interest rate at 12.9 (and I will get to 9.9 FIXED).. no 2 cycle adb junk.... Prime terms with a bit of negotiation So then I just have to get the credit line up... and I can do that. THey told me that they got tighter with the economy tightening.. so I anticipate as things recover so will their ability to increase credit lines more aggressively. At least they are giving me a shot with decent terms. The other plus is that I can easily get another guest card and combine my current 800 one into the visa. I won't do that yet... but I really won't be applying for much anytime in the future... so if I want to "play" with RNB a bit and see what I can do... there' s really no downside for me right now. The only other cards I want in the future would be Amex Optima Plat etc... and I'll have to have no bk on my report for that since they also tightened their stds on bks... So... For now, I'm just making those monthly in full payments and building up age on the current cards... And I'm closing the subprime ones as they hit 36 mos or as they won't refund annual fees. I don't pay interest anymore.
Marie, Tzank, I received my target visa in mail. As I had thought, they had given me only $500 with 18.99%. I have still not activated the card. I am planning to listen to Marie's advise and call them before activating an see if they can lower the interest rate. I wonder when will they increase the limit. Mari, thanks for your post earlier! And yes, no yearly fee is a good thing with targte card. Do they report the limit as limit or do they report similar to cap1(meaning reporting only the high balance)? I also have cap1 an they are charging me a 59/yr fee. I am thinking after one year of on time payments, asking them to remove the fee or at least redicung it.
My mother got a Target VISA with a line of $1,000 and 12.9%. She has perfect credit with a score above 800. I guess Target is being quite conservative right now giving out credit. By the way, my mother has a MBNA Platinum card with a credit line of $19,200.
tzank, When I first read your post it I was quite surprised. But on the second thought, it seems to be ok because a) now-a-days all ccc's are conservative in extending line of credits abd b) target is a retail card anyway, and retail cards normally start with less limits. But it was a good validation, and I do not feel that bad with a 500 limit now! BTW, you must be proud of your mother!!! Thanks.
TARGET VISA IS NOT A "RETAIL" CARD...IT IS A BANK CARD... Wife and I both got $10,000 each...(30-60 seconds on-line) 12/24/2001 TARGET STORE CARD IS A "RETAIL" CARD...
Wow George, good going with Target cards! So, does that mean, Target Guest card is not same as Target Store card? If yes, then is Target Store card issued by RNB? Because I think Target Guest card is issued by RNB. Why is Target Store card considered as Retail card and Target Visa not? Is this a rip off? I do not need another bank card....I needed a retail card....
You need a "STORE" card...try MERVYNS, JC PENNEYS, SEARS, MACYS, WAL*MART (NOT THE M/C CARD), ROBINSONS/MAY, KOHLS, FREDRICKS OF HOLLYWOOD...
I did call them and just as Marie had said, the rep was able to lower the APR easily from 18.9 to 15.9 before activating the card. Thanks Marie!
What kind of scores are you getting approved with? What kind of negatives and how long ago? Just curious...trying to get my reports cleaned up and I have no retail or bank cards currently. Thanks, Hockeymom
hockeymom, I got approved with EQ 643, EX 659, TU 589. I have one paid charged off and one closed account with lates. It seems like Target Visa is a good card to apply for because they do not have a yearly fee. What are your scores like?
My scores are not great: EQ-632 EXP-623 TU ? was 498 in June I have a BK7 from 96. But I have 2 chg offs from 2000 and 90 day lates on mtg from 2001. But I am on the right track--mtg has been paid on time since 1-2002. Just don't want to apply if I have no chance. Don't want the inquiry. I would rather wait until I am relatively sure I can get approved. Thanks Hockeymom
I agree, even though their Visa is relatively easy, I am not sure if Target (RNB) are BK friendly. And they do pull a hard one. They pulled my Experian. Sorry, I am not really sure what to tell you. I would wait for others to tell what were their scores/bk status and if they were approved.
Hockeymom I checked out how good a score you need to get a Target Visa at the Millennium site and if they pull Equifax, it looks like a score of 634 and below will get denied and a score of 641 and above will get approved. In between is a gray area. The data for the other two bureaus is more shaky but it looks like If they pull Experian a 612 should be approved while a score of 595 will create a denial. With Trans Union a 612 should be approved while a 586 will be denied. I recently applied and got approved. I got a CL of 800 at 18.90%. I had a CH 7 BK in 1997. I don't know which credit bureaus they checked. I would wait until your Equifax score goes up to 641. Me: Equifax about 679 Experian about 646 Trans Union about 738 http://www.millcbs.com/search.asp
I just recently got approved for a TARGET VISA. Others have said that you should call before it's activated to negotiate a lower interest rate. Has anyone successfully negotiated a higher cl also? My credit limit was only $500.00 and I was hoping to try to get a higher limit when I receive my card.
I did call before activation and got the apr reduced to 15.9 (from the original 18.9) but they did not change the cl. I don't think the reps can change the cl before activation. They all say the same thing - wait for six months.
I may be one of the few, but before I activated my card, I called and got a cl increase of $1000. I then called back and got the APR reduced. They told me they will reduce the apr 1 level for anyone that asks.
