Used in both Target’s in-stores and online, the Target RedCard can be used as either a debit or credit card and is a great choice for Target fans willing to save their money with every visit to their favorite stores. A non-negligible advantage of using the RedCard is its added 5% discount for most purchases made both online and offline.
The RedCard was made, by Target Corporation, to be accessible and seamlessly integrated into their customer’s methods of payment and it comes in three forms which are:
MasterCard Credit cardDebit card
While the MasterCard is an open loop card that can be used in places where it is accepted, the debit card is linked to the customer’s checking account and the credit card can be used to purchase items both offline or online(Target.com). In this article, I will be showing you how to get a Target RedCard, why you should get a RedCard, and of course how the RedCard works among other things.
Where to get a Target RedCard?
Before heading over to the evaluation of the working mechanism of the RedCard, let’s find out how to get one first. Both the debit and credit Target RedCard can be gotten online.
For the Target credit RedCard
You can get the credit Redcard through the following steps:
Visit the official Target websiteChoose between the Target wallet card, which can instantly be accessed, or wait for the physical card to be sentMake available your contact details which include name, phone number, and home and email address among others. Verify your employment and annual income by entering details like birthday, SSN, and ID info among othersReview Terms and ConditionsCreate your PINSubmit the filled application and await approval.
For the Target debit RedCard
The process of getting a debit Redcard is similar to that of credit and goes as thus:
Visit the official Target websiteChoose between the Target wallet card, which can instantly be accessed, or wait for the physical card to be sentMake available your contact details which include name, phone number, and home and email address among others. Verify your employment and annual income by entering details like birthday, SSN, and ID info among othersConfirm your (personal) checking account by either signing into your bank account to confirm it immediately or by putting in both your account and routing numbers and waiting a while for confirmation from test deposits. Review Terms and ConditionsCreate your PINSubmit the filled application and await approval
Similar to any other credit or debit card, some requirements ought to be met before your RedCard can be approved, if not, you’ll be informed that your file is still ‘in review’.
How does a Target RedCard work?
Now for the primary discussion of this article. Note that I’ll only be explaining the working mechanism of only a Target debit and credit Redcard.
Credit card
Usually used for purchases at Target, the credit Redcard provides credit through TD bank in the United States of America. With no annual fee whatsoever, the credit Redcard offers many other benefits, that is, apart from the included 5% discount on qualified purchases. It also has a 22.9% interest rate for late payments of balances which can go as high as $40. An individual cannot withdraw up to $40 from the credit Redcard.
Debit card
When Also used for purchases at Target, the debit Redcard is directly linked to the user’s checking account. Similar to the credit Redcard, there is no annual fee and there’s an included 5% discount on qualified purchases. It also has a fee for a returned payment and can go up to $40. Unlike the credit Redcard, one can withdraw up to $40 from the debit Redcard
Why use a Target RedCard?
Since we now know where to get the Target RedCard and how it works, let’s look at some of the reasons why you should get a RedCard.
Some of the general advantages similar to using the two RedCards are:
5% discount on qualified ordersNo annual feeFree shipping for orders made onlineFree shipping for 48 hours (2-day shipping)Additional 30-day returns and exchangesExclusive gifts and offers
A major disadvantage of using the Target RedCard is its high-interest rate. A RedCard has an APR of about 29% which is pretty high in comparison to the average rate of about 18% for store credit cards. Other disadvantages are its $40 charge for late payments and $29 for return payments.
Final words
Now that you know what a RedCard is, where to get it and how it works you can make orders online and offline at Target while saving your money. But while doing so be cautious of the late payments fee and interest rate to avoid the formation of bulk debt. let’s know more about How Does Target Redcard Work
Are there any upfront payments for the RedCard?
No, there are no upfront or annual fees when signing up for a Target RedCard
How long does it take before I start using my RedCard?
After applying for your Target RedCard, you can begin to use it immediately if it is approved.
How long does it take before my RedCard is approved?
This varies, you might be approved immediately to start shopping or may have to hold on for a minimum and maximum of 7 to 10 days respectively.
