Yes, the Target RedCard is a credit card. The Target REDcard credit card can only be used for purchases at Target retail locations and on Target.com. In addition to the Target Credit Card, Target offers a RedCard debit card that is linked to a customer's personal checking account.
The debit card has some of the same features as the Target Credit Card, such as 5% discount in savings on nearly all in-store and online purchases and a $0 annual fee, among others. When you use the RedCard debit card, the amount of each Target-related purchase will be withdrawn directly from your linked checking account.
Some Target Credit Card customers may also receive an offer to upgrade to a Target Mastercard, which you can use anywhere Mastercard credit cards are accepted. You can only get the Target Mastercard through an upgrade, though, as the card is not available to new applicants.
Your Target Credit Card credit limit will be determined based on your overall creditworthiness, including income and credit score. Initial credit limits tend to be in the vicinity of $500, but they will vary according to each approved applicant’s creditworthiness and overall financial situation.
After several months of use, accounts get reviewed for automatic credit limit increases. These are based on … read full answersoft pulls on your credit report, so they won’t affect your credit score. Your chances of an increase are better if your income has improved and you’ve updated it through your online account. Also, making payments on time and preferably in full is also a good idea.
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