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Target Red Card 5% off every purchase
Old 12-24-2010, 02:11 PM   #1
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Target Red Card 5% off every purchase

Hi,
I use my costco Amex for 90% of my purchases and love getting my cash back in February! I have a "back up" visa for purchases where amex is not accepted.

I pay my amex off each month in full (the back up visa too of course)...no cc debt for me!

I've never accepted offers for store-based cards but the Target Red card has my attention - they are offering 5% off every purchase, every day.

I spend an average of $400 a month there on groceries and household items.

Any reason not to get this card? Only drawback is having an additional card to pay...
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Old 12-24-2010, 02:47 PM   #2
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IMOH, the biggest drawback to store cards is that opening a new account can pull down your credit rating a bit, owing to a) the credit inquiry and b) lowering the average age of all your accounts.

But for $20 a month, I'd risk it!

Amethyst
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Old 12-24-2010, 03:01 PM   #3
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I have one of these in the back of a drawer somewhere. I got it because there was 10% off of the purchase when you open the card and I had a $200 item. After that it was of no benefit to me and I never used it again.

I saw the sign at Target that it's now worth 5% off of all purchases. I need to see if my card is still good.

I don't buy a lot at Target. I switch off between Target and Walmart for some non-food grocery purchases like paper goods, vitamins and cleaning supplies. I like their towels and sheets, too. And small appliances.

Later.... I found my old Target card and it's a Target Guest Card - from 2001. They no longer use this so I'll have to decide if it's worth it to get the new Red Card.
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Old 12-24-2010, 05:35 PM   #4
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I guess its ok if it works for you. I haven't bought anything at our local Target in quite some time. I personally believe that these deals just get you to spend more money overall. My plan is to spend considerably less .
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Old 12-24-2010, 07:23 PM   #5
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I guess its ok if it works for you. I haven't bought anything at our local Target in quite some time. I personally believe that these deals just get you to spend more money overall. My plan is to spend considerably less .
Around here, at the Super Target, their prices are quite low considerably below most other grocery stores and on par with HEB (some items lower, a few higher). The selection is not as good so I can't do all my grocery shopping there. But I certainly do save money buying groceries there. Hmmm...maybe I should get the Red Card.
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Old 12-25-2010, 08:25 AM   #6
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It used to be that if you purchased a certain amount with your target card you would get a coupon worth 10% off of any purchases in one day, including at the pharmacy. Now, it is 5% off all the time, which covers most things purchased with the card at the store, but not at the pharmacy. For every five prescriptions filled at the pharmacy you get a 5% off certificate to use elsewhere in the store. So, none of the discounts apply to pharmacy purchases.

I used to use the target card to save money at the pharmacy but there isn't any point anymore. I keep target pharmacy so I can pick up drugs anywhere in the US. It's prices seem competitive with other chains like Walmart and Walgreens. I keep getting 5% off coupons but rarely use them.
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Old 12-25-2010, 02:36 PM   #7
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I spend an average of $400 a month there on groceries and household items.

Any reason not to get this card? Only drawback is having an additional card to pay...
If you don't mind carrying one more card in your wallet, go for it. Ask if they have an auto-debit option. All my cards are on auto-debit. You never have to worry about the due date or late payments when you have auto-debit.
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Old 12-26-2010, 12:43 AM   #8
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Target indeed offers a debit option. I got mine by asking a cashier. They ask for a voided check so the account can be linked to a bank checking account, and mail you the card a week or so later.

I've had the debit card for about two months. It's been great, no problems so far.
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Old 12-26-2010, 03:18 AM   #9
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Thanks for the feedback everyone, I think I'll give it a try and see if there are any other drawbacks or the hassle isn't worth it (but seems like it is for now =D).
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Old 12-26-2010, 07:57 AM   #10
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Does Target have an auto-pay feature? So the full balance gets paid automatically each month? I can do that with AMEX... I don't spend a lot at Target so I haven't gotten a card with them but...
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Old 12-29-2010, 02:46 AM   #11
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I don't know about all their payment features yet - but got the card today - signing up was via the little card slider terminal, and pretty painless as these things go (no writing your name in all caps on those silly spaces on a brochure type thing), instantly approved...used on the purchase and saved over $7 today...
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