Target credit card tightening terms?

**sputNick** · Oct 30, 08, 3:22 pm

My Sears card credit limit got chopped down to $400 so I cut it up and threw it in the trash [that's a total slap in my face so they can go to hell for all I care] nothing in my credit changed either it has been good.

**fffresh** · Nov 19, 08, 4:45 pm

Target has nearly a quarter percent drop in credits this quarter and is largely blaming it on their credit card division. Although I'm sure their losses in that department are significant it sounds to me they are making it a scapegoat to cover lackluster sales and decreased consumer spending at their stores. I can't imagine more anymore than 5 or 10% of the purchases at their stores are made with the Target credit card.

**jhudson** · Nov 19, 08, 9:49 pm

My wife opened one a Target Red card earlier this year and I was so ticked that she did. These cards are worthless. Unless you're building credit I don't understand why folks get them. I can see why they are losing big bucks on them because I'm sure most that have them do it because they can't get regular credit cards. Now my wife and I have excellent credit which is why I was so upset with her getting one.

**fffresh** · Nov 20, 08, 11:33 am

After reading up further on this I've found the true reason Target is struggling and Wal-Mart is not. It is because Target generates 40% of their sales from housewares and apparel, both two things Americans will not be buying in this economy. Wal-Mart mostly sells necessities which explains why their sales are up 10%.

**KC95** · Nov 28, 08, 3:53 pm

what recession? the target in Waterbury was packed today for black friday lol

**Cucumber** · Jan 23, 09, 1:10 am

The Target RedCard is now seeing red bigtime!

The delinquency rate on the card was up 4% in December alone and now the total default rate is almost 13%!!!!! That is high!

They've now lost almost a BILLION dollars in bad debt in the past 12 months.

**Cucumber** · Jan 29, 09, 12:21 am

FYI a little update for you guys.....

Target on Tuesday said they are cutting 9% of their workforce at their HQ and they mentioned their store charge card as a contributing factor for having to do so!!!

**fffresh** · Jan 30, 09, 8:52 am

Target cannot entirely blame the Red Card for their problems.

The truth is Target also sells many non-essentials which consumers are not buying right now. Wal-Mart more or less sticks to the basics of mostly things which are needed on a day to day basis such as health care and grooming supplies, food, etc.

**Mogul of Pineapples** · Mar 4, 09, 12:12 am

I know this thread has been going on a while but I wanted to add I got asked for the first time in probably 12 months to open a Target credit card. In the last 3 quarters of 2008 I don't think I was asked once and while at Target yesterday the cashier asked me. With all the troubles they have with their RedCard dragging them down I would have thought they would stop pushing this card. Despite losing hundreds of millions from their charge card they are still at it.

**bozell** · Mar 25, 09, 2:12 am

why are they still pushing the target credit card if it is losing money for them?

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