got target visa with 641EQ

Discussion in 'Credit Talk' started by combackkid, Jul 8, 2002.

  1. tzank

    tzank Well-Known Member

    I lost one point with my Target inquiry on my Equifax report.
     
  2. chargedoff

    chargedoff Well-Known Member

    lucky you, tzank.

    when did you get the approval? How much did they give you?
     
  3. Marie

    Marie Well-Known Member


    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.
     
  4. tzank

    tzank Well-Known Member

    I got $500 at 18.9% on July 9th
     
  5. chargedoff

    chargedoff Well-Known Member

    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.
     
  6. tzank

    tzank Well-Known Member

    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.
     
  7. chargedoff

    chargedoff Well-Known Member

    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.
     
  8. GEORGE

    GEORGE Well-Known Member

    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...
     
  9. chargedoff

    chargedoff Well-Known Member

    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.... :(
     
  10. GEORGE

    GEORGE Well-Known Member

    TARGET VISA IS A "BANK CARD"...
    TARGET "GUEST" aka "STORE CARD" IS A "RETAIL CARD"...
     
  11. GEORGE

    GEORGE Well-Known Member

    You need a "STORE" card...try MERVYNS, JC PENNEYS, SEARS, MACYS, WAL*MART (NOT THE M/C CARD), ROBINSONS/MAY, KOHLS, FREDRICKS OF HOLLYWOOD...
     
  12. chargedoff

    chargedoff Well-Known Member

    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!
     
  13. hockeymom

    hockeymom Well-Known Member

    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
     
  14. chargedoff

    chargedoff Well-Known Member

    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?
     
  15. hockeymom

    hockeymom Well-Known Member

    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
     
  16. chargedoff

    chargedoff Well-Known Member

    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.
     
  17. erik776

    erik776 Well-Known Member

    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
     
  18. christi523

    christi523 Well-Known Member

    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.
     
  19. chargedoff

    chargedoff Well-Known Member

    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.
     
  20. LKH

    LKH Well-Known Member

    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.
     

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