6 Things You MUST Know About The Target Circle Credit Card

Summary

This video evaluates the Target Circle credit card (formerly the Target Red Card), highlighting both its pros and cons. The card offers a 5% discount on Target purchases, 2% back on dining and gas, and some extra benefits like free 2-day shipping and extended returns. However, it comes with limitations, such as a requirement for good credit, the inability to redeem rewards for cash back, and the expiration of rewards after one year. The card's design is basic, and while it's a solid option for frequent Target shoppers, its redemption system and limited usage make it less attractive for others. Overall, the card gets a 2 out of 5 stars rating.

Takeaways

• 😀 There are 2,000 Target stores in the US, serving 30 million customers weekly, comparable to filling an average NFL stadium 400 times.
• 😀 The Target Circle Card (formerly Target Red Card) offers 5% back on Target purchases and additional benefits for frequent shoppers.
• 😀 The card requires a good credit score (670 or higher) and being a Target Circle member, which is free to join.
• 😀 Signing up for Target Circle is free and can yield discounts of 5% or up to 10% on in-store purchases.
• 😀 The Target Circle Card has no annual fee, making it an attractive option for frequent Target shoppers.
• 😀 The card offers a $50 statement credit when you spend $50, which adds some value but is relatively modest compared to other credit card bonuses.
• 😀 The card’s rewards program includes 5% back on Target purchases, 2% back on dining and gas, and 1% on other purchases.
• 😀 There are exclusions on the 5% back category, such as on subscriptions, eye exams at Target Optical, and alcohol in Indiana.
• 😀 The redemption process is limited to Target gift cards, and rewards points expire after one year, which is a significant downside.
• 😀 After a year, all accumulated rewards points will expire, creating a sense of urgency to redeem them before the deadline.
• 😀 While the card offers free 2-day shipping on online purchases and extended returns, the overall redemption process and limited use make it less appealing for some users.

Q & A

How many Target stores are there in the U.S. and how many customers do they serve weekly?

There are 2,000 Target stores in the U.S., and they serve 30 million customers each week.

What are the requirements to get approved for the Target Circle credit card?

To get approved for the Target Circle credit card, you generally need a credit score of at least 670 (good credit) and a membership in Target Circle, which is free to join.

Does the Target Circle card charge an annual fee?

No, the Target Circle card has no annual fee.

What is the sign-up bonus for the Target Circle card?

The sign-up bonus for the Target Circle card is a $50 statement credit after spending $50.

Are there any restrictions on earning 5% back with the Target Circle card?

Yes, you cannot earn 5% back on certain items, including subscriptions, Target Optical services (like eye exams), and alcohol in Indiana.

What categories do the Target Circle card offer rewards for?

The Target Circle card offers 5% back on Target store purchases, 5% back on Starbucks purchases inside Target, 2% back on dining and gas, and 1% back on all other purchases.

How are the rewards from the Target Circle card redeemed?

Rewards from the Target Circle card are redeemed only as Target gift cards.

What happens to the rewards earned on the Target Circle card after one year?

Rewards earned on the Target Circle card expire after one year, which is a major drawback of the card.

What are the additional benefits of using the Target Circle card for Target purchases?

Additional benefits include free 2-day shipping on many items purchased online at Target and an extended return period for Target purchases.

What is the design of the Target Circle card like?

The design of the Target Circle card is simple and basic, with a red card color and the MasterCard logo. It is similar to the old Target Red Card but with some updated features.