Target is one of the largest retail chains in the United States, offering a wide range of products from groceries to clothing and electronics. It is also known for its popular store credit card, the Target REDcard. Many shoppers are interested in applying for this card but often wonder what credit score is needed to qualify. In this article, we will explore the credit score requirements for the Target REDcard and answer some frequently asked questions.
The credit score needed for the Target REDcard varies depending on the type of card you are applying for. There are two options available: the Target REDcard Credit Card and the Target REDcard Debit Card. The Target REDcard Credit Card is a traditional credit card that requires a good to excellent credit score for approval. This typically means a credit score of 670 or higher.
On the other hand, the Target REDcard Debit Card does not require a specific credit score since it is directly linked to your existing checking account. This option allows you to enjoy the benefits of the REDcard, such as 5% off at Target and free shipping, without the need for a credit check. If you prefer not to open a new credit card or do not meet the credit score requirements, the Target REDcard Debit Card is a great alternative.
Now, let’s address some frequently asked questions about the Target REDcard:
1. Can I apply for the Target REDcard with a limited credit history?
Yes, it is possible to be approved for the Target REDcard with a limited credit history. However, having a good credit score will increase your chances of approval.
2. Will applying for the Target REDcard affect my credit score?
Yes, applying for the Target REDcard Credit Card will result in a hard inquiry on your credit report, which may temporarily lower your credit score. However, the impact is usually minimal and short-lived.
3. Can I use the Target REDcard outside of Target?
The Target REDcard can only be used at Target stores and on Target.com. However, it offers additional benefits such as free shipping on most items and an extended return period.
4. What are the benefits of the Target REDcard?
The Target REDcard offers various benefits, including 5% off every purchase, free shipping on most items, an extended return period, and exclusive access to special offers and promotions.
5. Is the Target REDcard a good option for building credit?
Yes, using the Target REDcard responsibly can help build your credit history. Making timely payments and keeping your balance low will demonstrate your creditworthiness to lenders.
6. Can I upgrade from the Target REDcard Debit Card to the Credit Card?
Yes, you can request an upgrade from the Target REDcard Debit Card to the Credit Card. This allows you to enjoy the benefits of a traditional credit card while still being able to shop at Target.
7. Can I still earn rewards with the Target REDcard Debit Card?
Yes, the Target REDcard Debit Card allows you to earn the same benefits and rewards as the Credit Card. You will still receive 5% off every purchase and enjoy free shipping on most items.
In conclusion, the credit score needed for the Target REDcard Credit Card is typically 670 or higher. However, if you do not meet these requirements or prefer not to open a new credit card, the Target REDcard Debit Card is a great alternative. It does not require a specific credit score and is directly linked to your existing checking account. Whichever option you choose, the Target REDcard offers numerous benefits and rewards for loyal Target shoppers.