Anyone get the new Target Debit Card?

[jpg7n16]

I agree that the rate is terrible but I think marvholly's point was that if you never carry a balance and always pay your bill in full, it really doesn't matter.

Oh- I read his post as saying, "I normally pay it off and avoid interest, but if worse came to worse and I had a balance owed, it'd only charge me 14% - which isn't that bad"

Which for other readers, I wanted to clarify that 14% is not okay. It's bad. Maybe some cards out there are even worse, but 14% is still bad.

I don't think you, me, or Marv would end up paying any interest at all, but another reader considering the card - who carries balances regularly on other cards, might be misled into thinking that 14% is a good rate. In an attempt to save 5%, they may get charged more than they bargained for, unless they do like you and Marv do and set aside the cash to pay it off each month.

[krantcents]

Thanks for the info, I did not know anyone who had the Target credit or debit cards.

[creditcardfree]

I am so tempted to get the credit card. I shop Target all the time. I'm less than 3 minutes away. It's my go to store. I have yet to cave. If someone asks me, I'm sure I'll say yes. In many ways, I now feel like I'm getting charged 5% extra because I don't have their card!

[disneysteve]

I now feel like I'm getting charged 5% extra because I don't have their card!

Our thought exactly. Other than having another CC on our record, I just can't see any downside to getting this card. We shop there all the time. Literally, it is rare for a week to go buy without at least one visit to Target. We even shop there when we are on vacation. A 5% discount just for using their card is a no-brainer to us.

I thought of this thread when I posted my thread earlier today about the new debit card discounts that may be coming in a few months. I think this is a trend that we will see more and more of. On a similar note, there is a gas station near our house that just changed brands this week and is now Citgo. The new price board has one price for cash or Citgo card purchases and a higher price for all other credit card purchases. The Target deal is even better because with their card, you pay less than cash customers.

[neguy11]

I've had the Debit card for a week now and love it. It takes a few days before the money is ACH'ed out of your account, so you need to make sure you write it down. I even get 5% off my prepaid cell phone airtime cards. Love it so far!

[khosta]

I've had a debit card since I could legally have one!! I have never ever had a problem in all my years!! The Target debit card sounds awesome to me!! I say go for it! I miss Targets... we don't have them where I live.

[KennySoward]

Thanks for the link, Joan. I didn't know the credit card did the same thing. I would much rather get a CC than a debit card. I will check into that.

Well, this would essentially be the same thing as having a debit card (as explained here--maybe I didn't read it right) as it eventually takes the money directly from your bank account. Seems like you would have the same amount of trouble getting this money back--or getting ripped off--as having a regular credit card.

I'll have to look into this deal though. We love Target, but normally only shop there every once in awhile as it is a bit distant.

[b4freedom]

I go to target frequently. I got the cc and save the 5%. I pay off balance every month. In my case it is 100% worth it.

5% is only applied to items not on sale or don't have a coupon. If you purchase a $5 item and you use a $1 coupon you won't get the extra 5% off.

[marvholly]

Not sure about the "fine print" re: coupons and sales as I have not bought anything that way yet. i would tend to just REFUSE the entire order if that happened.

[KiwiJo09]

What about the people who don't shop at Target? Anything from Walmart? I don't shop at Target because I usually go to these kinds of stores very late and all Walmarts here are 24/7.

Walmart Credit Card

It doesn't look worth it to me.

[Joan.of.the.Arch]

Well then, I guess I'm NOT disappointed in myself for my laziness and not getting a Target 5% discount card. There is a Target close to me, but most everything we buy there is on sale, in which case I would not get the 5% off anyway. That's fine. One less card to keep up with.

[neguy11]

5% is only applied to items not on sale or don't have a coupon. If you purchase a $5 item and you use a $1 coupon you won't get the extra 5% off.

I use the Target Debit Card and have received 5% off everything, including sale items as well as items that I have used a coupon on. I'm not sure where you are getting your information.


Here is the actual wording from the terms:

5% discount applies to eligible purchases minus any other discounts and the value of any promotional Target gift cards received in the transaction. Target reserves the right to discontinue or alter the terms of this program at any time. 5% discount does not apply to the following:

Prescriptions, Target Clinic® services and Target Optical® eye exams
Target gift cards and prepaid cards
Previous purchases
Target credit account payments, Target Debit Card cash back and cash advances on the Target Visa Credit Card
Target Commercial Interiors® purchases
Target Mobile™ purchases
Gift wrap and shipping and handling charges on Target.com purchases

[canada94]

Debit cards are soooo much better, you can only spend what you have got, just make sure you keep track of what you spend

[Frugal]

I have looked into getting the card, but I too feel like there must be some catch in the fine print. I saw it advertised as a Target credit card, not a debit card. I don't use credit cards, except in emergencies, so I would not use it. However, it is enticing, especially since that extra 5% would help make up for the difference between what, say, Walmart, and Target charge. Target tends to be more expensive here where I live than Walmart, or some of the other box stores.

[LivingAlmostLarge]

Got the credit card. Nice. thanks