Target REDcard Review – Debit Card With 5% Discounts at Target
AT A GLANCE
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That’s good info from an inside Gina, thanks!
I’m a frequent shopper at Target and about a month ago or a bit over I signed up for the Target debit card. It was a pretty easy and quick procedure and so far I’m very happy with it. Sure 5% off doesn’t sound like much but if you shop there quite a bit like I do it does add up. Also it can be stacked with Target coupons to further your savings. Another perk is you can get an extra 5% savings if you refill five prescriptions at Target which can be used in addition to your regular 5%.
I thought it was a great idea too–except for the delay in posting. I go to Target frequently, and the day I signed up for the card, I had already been twice that day. (I’m not an excessive spender, I was just interrupted by picking up my daughter from school :) But I agree, if I am going to use the card, I am going to have to write down every transaction. I used the card for the first time on a Wednesday night, and it is now Saturday night, 3 days later, and it still hasn’t posted yet! Very inconvenient since I am used to checking my balance frequently (at least daily) online to see how much I have
to work with. Although I haven’t asked anyone from Target or called them, my thoughts on the matter is that perhaps the banks are new to this game, and can’t keep up with whatever it takes them to process these kind of card transactions. I also forsee returns being a problem/taking forever to get your money back in your account since Target only lets you receive returns back in the exact form of payment you used for the purchase.
I’ve only made one return with my Target Debit card and the return was VERY easy. I returned something and the credit went back to my account. It did take a couple of days to show on my account though but I had no issues with returning an item with my card. One thing to note though. On a regular debit card Target’s return policy is to refund the money to your account, give you cash back, or store credit. However on your Target Debit card you only have the option for your account to be credited back to your bank account or to get a store credit, you cannot get cash back on a refund from the Target Debit card.
This isn’t a big deal to me though as the money was refunded to my regular bank account in a couple of days. Plus as much as I shop at Target I know even if I got store credit I’d for sure be using it!Source: www.moneycrashers.com
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