Should I get a Target credit card if I shop a lot?

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With so many perks included, this might be a smart move.

Many consumers love shopping at Target. It’s easy to see why. Target offers a wide range of products at competitive price points. And let’s face it – if your Target location is well stocked, shopping there could be a fun experience.

Now, if you’ve been known to shop at Target often, you might be toying with the idea of ​​opening a Target credit card, either in person or online.

Card with benefits

There are many benefits to signing up for Target’s credit card, called the Target RedCard. But before we go any further, please note that Target RedCard comes in two versions: a credit card and a debit card. In this discussion we are talking about the former.

One of the most attractive benefits of the Target Red Card is 5% off your purchases at Target, both in-store and online. It can lead to a lot of savings. Plus, get free 2-day shipping on your online orders with your Target RedCard. You can also join our mailing list for access to special offers.

Additionally, Target RedCard does not charge annual or monthly fees (although late payments may incur charges). The card also gives you an extra 30 days to make returns and exchanges at Target beyond the retailer’s standard timeframe.

Why Not Sign Up for a Target Credit Card

The Target RedCard is a really great option for those who often shop at Target. However, it may not be a good idea for you to sign up.

If you already have a large amount of credit card debt, you should be serious about paying off your debt before adding a new credit card to your personal makeup. It’s suitable.

Perhaps you plan to apply for a large loan, such as a mortgage, in the near future. In that case, avoiding it is a good idea. Your credit score plays a big role in determining your eligibility for a mortgage. Also, every time you apply for a new credit card, it becomes more difficult to check your credit report. As a result, it takes a small hit to your credit score.

Usually, a 5-10 point drop in your credit score may not be a big deal. But just in case, you don’t necessarily want to take that hit right before you apply for a $300,000 loan.

After all, signing up for a Target credit card could be to your advantage, especially if you’re confident in your ability to pay your bills on time each month without carrying forward balances. But if you’re trying to pay off your credit card debt or apply for a large loan, waiting for a Target Red Card is probably the safer option.

Remember, like any credit card, you may need to meet certain credit score requirements to be approved for the Target RedCard. So if your credit score allows you to use a job, that’s another reason to postpone.