"First Store Card After BK7!"
Target REDcard® Store Card Review
Written by: lindalu on 2009-06-12
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lindalu's review: 
I just applied on line and was hoping for the Visa but got approved for the store card with a $300 limit...
16.99% apr..
I have a bk7 filed 5/07 and discharged 8/07... Haven't been approved for a store card yet since the bk... Also haven't applied for a credit card or anything for that matter since August 08. No lates on credit report at all... Just the infamous bk7!
my utilization on my report is kind of high so if you are contemplating applying for this reason go ahead and give it a try... As stated above I got approved with a bk 2years old and high utlization (not high dollar amount... Because I don't have a lot of credit to use) and a small medical collection account from 6 months ago.
I just applied on line and was hoping for the Visa but got approved for the store card with a $300 limit...16.99% apr..
I have a bk7 filed 5/07 and discharged 8/07... Haven't been approved for a store card yet since the bk... Also haven't applied for a credit card or anything for that matter since August 08. No lates on credit report at all... Just the infamous bk7!
my utilization on my report is kind of high so if you are contemplating applying for this reason go ahead and give it a try... As stated above I got approved with a bk 2years old and high utlization (not high dollar amount... Because I don't have a lot of credit to use) and a small medical collection account from 6 months ago.
10 Comments
Comment 1 by rabbit713
Congratulations!! 
on 2009-06-12
Congrats on the card approval, just maintain your credit in good standing then later you can apply for other cards once the bk7 is removed from your reports
on 2009-06-12 Congrats on the card approval, just maintain your credit in good standing then later you can apply for other cards once the bk7 is removed from your reports
Comment 2 by rockin35
High Utilization...... on 2009-06-13
Going off the subject of this review. If you filed a BK Chpt7, erasing all debt, wouldn't that equate to being able to pay each month the balance in full... Thus eliminating a "high utilization" before it hits your credit report? Just curious... I've never filed a bankruptcy but I've was under the impression, everything gets erased with chapter 7's.
Congrats on your approval. I would assume you could get an increase in 5 months now that the creditors are a little at ease given the recession is nearing the worst parts. Rockin35
on 2009-06-13 Going off the subject of this review. If you filed a BK Chpt7, erasing all debt, wouldn't that equate to being able to pay each month the balance in full... Thus eliminating a "high utilization" before it hits your credit report? Just curious... I've never filed a bankruptcy but I've was under the impression, everything gets erased with chapter 7's.Congrats on your approval. I would assume you could get an increase in 5 months now that the creditors are a little at ease given the recession is nearing the worst parts. Rockin35
Comment 3 by colonative
Congratulations on 2009-06-13
On your Red Card. You might call them in about 6 months to see if they will upgrade you to the Visa.
Also, none of my business, but that medical collection, did you pay it or are you planning on paying it? That could hurt since you filed bky and then 1.5 years later have a collection. If you do decide (or are able to) pay it, see if they will agree to delete that trade line once you pay it in full.
Congratulations again LindaLu.
on 2009-06-13 On your Red Card. You might call them in about 6 months to see if they will upgrade you to the Visa.Also, none of my business, but that medical collection, did you pay it or are you planning on paying it? That could hurt since you filed bky and then 1.5 years later have a collection. If you do decide (or are able to) pay it, see if they will agree to delete that trade line once you pay it in full.
Congratulations again LindaLu.
Comment 4 by lindalu
To Answer Your Questions on 2009-06-13
Rockin35... I use my cards each month and make large payments but as you know it sometimes take the creditcard companies a while to report my payments so it looks high currently as they hadn't brought down my utilizaiton when I applied. I have 3 cards that have taken up to 3 months to report my payments.
My bk7 did erase all prior debt... That is gone... I currently can't incur a large dollar amount of debt because of the limits of have... I don't intent on running them up anyway. I don't need large limits other than to make utilization look low.
Colonative... That medical collection is a problem with insurance co. I had 2 companies at the time and the medical facility kept billing the wrong company first... I just found out it was there. They just sent me paperwork about it and I am sending them and calling them clarification that it was indeed insurance billing error that is going to be paid by my insurance co... I have really good insurance but sometimes it gets messed up with 2 companies and who is primary.
on 2009-06-13 Rockin35... I use my cards each month and make large payments but as you know it sometimes take the creditcard companies a while to report my payments so it looks high currently as they hadn't brought down my utilizaiton when I applied. I have 3 cards that have taken up to 3 months to report my payments.My bk7 did erase all prior debt... That is gone... I currently can't incur a large dollar amount of debt because of the limits of have... I don't intent on running them up anyway. I don't need large limits other than to make utilization look low.
Colonative... That medical collection is a problem with insurance co. I had 2 companies at the time and the medical facility kept billing the wrong company first... I just found out it was there. They just sent me paperwork about it and I am sending them and calling them clarification that it was indeed insurance billing error that is going to be paid by my insurance co... I have really good insurance but sometimes it gets messed up with 2 companies and who is primary.
Comment 5 by rockin35
Good Deal..... on 2009-06-13
I'm glad they are finally straigtening things out with that paperwork. That is definetly something that can take several months to fix even after everything is in place.
My mother only keeps low credit utilizations. She will never spend over $150 in a month and only shops at Macys, and always sends a money order to pay it off each month in the mail. I wish I had her discipline.
Congrats on your approval. Rockin35
on 2009-06-13 I'm glad they are finally straigtening things out with that paperwork. That is definetly something that can take several months to fix even after everything is in place. My mother only keeps low credit utilizations. She will never spend over $150 in a month and only shops at Macys, and always sends a money order to pay it off each month in the mail. I wish I had her discipline.
Congrats on your approval. Rockin35
Comment 6 by yesman
What You Think! ! ! ! on 2009-07-06
Ok so I apply for macys got approved for 300 also orchard bank 300 and now bloomingdales for 1000... I apply for target because I need a credit card that I can shop daily use items like deodorant toothbrush toothpaste etc I'm 19... My credit are 640, 655, 660 do you guy think they would approve me for the target Visa ? I already applied online it said more information required you will receive a letter in two weeks... What do you think ?
on 2009-07-06 Ok so I apply for macys got approved for 300 also orchard bank 300 and now bloomingdales for 1000... I apply for target because I need a credit card that I can shop daily use items like deodorant toothbrush toothpaste etc I'm 19... My credit are 640, 655, 660 do you guy think they would approve me for the target Visa ? I already applied online it said more information required you will receive a letter in two weeks... What do you think ?
Comment 7 by lindalu
Probalby Will Get The Store Card on 2009-07-06
I got the store card with a 604... You may not have enought credit established to get the Visa... But you never know... You may have a good shot at the store card though. My daughter is 19 and she got denied discover because she didn't have enough credit established but got the discover by HSBC... Try that one too.
on 2009-07-06 I got the store card with a 604... You may not have enought credit established to get the Visa... But you never know... You may have a good shot at the store card though. My daughter is 19 and she got denied discover because she didn't have enough credit established but got the discover by HSBC... Try that one too.
Comment 8 by rockin35
Review For Both.... on 2009-07-06
They may need to process a manual review for both, either the Store Card or the Visa Card. If you've open up at least 2 cards in the last 6 months, they may give you a bad strike for applying for credit. Either way, if you get the Store Card, in 8-9 months you can go into the store and request the Visa Card but it will be another hard inquiry. Rockin35
on 2009-07-06 They may need to process a manual review for both, either the Store Card or the Visa Card. If you've open up at least 2 cards in the last 6 months, they may give you a bad strike for applying for credit. Either way, if you get the Store Card, in 8-9 months you can go into the store and request the Visa Card but it will be another hard inquiry. Rockin35
Comment 9 by yesman
I Got Approved on 2009-07-07
They called me today and told me to verify some information and then told me I was approved for 200 which is not much but for what I need it its ok. I'm happy cause I can use it to buy daily things and I would never apply for another credit card for years that's enought lol...:)
on 2009-07-07 They called me today and told me to verify some information and then told me I was approved for 200 which is not much but for what I need it its ok. I'm happy cause I can use it to buy daily things and I would never apply for another credit card for years that's enought lol...:)
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Disclaimer: This content is not provided by Target National Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Target National Bank. Review content is powered by Finance Globe.
