"Low CL High Interest Rate"

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Written by: irispixie on 2010-06-15

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irispixie's review: Callout Comment We received our Target Red card 3 years ago this month. Originally our CL was $300.00 and I believe they bumped our CL up to $500.00 by December 2007.

Our interest rate went from 21% on up to 30%. We have never been late, always made more than the minimum payment if not PIF.

We are very careful on how we use the card, never spending more then 30% or what we can afford to pay. Remember plastic is not your money and you should never spend more then you can afford. Having the card now for 3 years, we would expect a better CL or have been upgraded to a Target Visa by now.

Have considered closing out the account after we buy our house, since the CL is so little. You also have to spend a lot to get that 10% discount and the discount only applies when you use your Red Card.

1 Comment

Comment 1 by wanderer
Re: Low CL High Interest Rate User Icon on 2010-06-15

Remarks Target is known for their $100 to $300 CL and not increasing them. As of April 29, 2010 they discontinued the Target Visa (too many dollars lost). As to interest rates, most store cards run about 23.9% to 30%. They always have going back to the 1970's when I got my first one. Rates have always been high.
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