In most cases, Team Clark does not recommend preloaded debit cards as a means of making purchases. This card entitles you to the 5% discount and other perks that RedCard users enjoy, but you have to load money on it to spend at the store. Target’s fourth option for RedCard activity is a pre-loadable Visa debit card. You can find the Mastercard guide to benefits for this card here. This card carries the benefits of the store credit card, but you can use it anywhere that takes Mastercard. Presumably, eligibility for the Mastercard product is determined by TD Bank USA, which is the card issuer for the Target RedCard. Instead, it must be offered to you after a successful period with the Target RedCard store credit card. You cannot apply for this card as a new Target credit seeker. (But you can do that with any debit card.) You also can also use it to withdraw cash at the Target register - up to $40. (Money expert Clark Howard often argues against using debit cards for reasons such as this.) These can take 2-3 days to process, so make sure you keep sufficient funds in your bank account to cover purchases. This RedCard links to your personal bank account for withdrawals after each purchase. But it functions differently on the back end. The debit card version of the RedCard looks the same as the credit card, and it also gives you a 5% discount on purchases. If this card design looks frustratingly identical to the store credit card, that’s because it is. It is a store credit card that gives a 5% discount on purchases at Target and on, but you can’t use it anywhere else.Īnd since it isn’t a full-fledged credit card, it also doesn’t come with things like introductory APR periods, welcome bonuses, balance transfers or the like.Īgain, this is the credit card that we’re reviewing in this article. This is the card we’re reviewing in this article. Let’s take a minute to clear that up: Store Credit Card Target has four different cards that carry the RedCard branding, and that can be confusing. This review is solely about the Target RedCard store credit card, but the term “RedCard” does require some clarification. Understanding the 4 Different Types of RedCard It is on Team Clark’s list of best credit cards for shopping rewards. This iteration of the RedCard cannot be used for purchases anywhere but the retailer’s stores and website. It also provides free shipping opportunities for shoppers. The Target RedCard credit card is a no-annual-fee store credit card that offers 5% off purchases made at Target and on.
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