I have had so many problems with the Target Red card so I'm going to apologize in advance for my rant.. I opened an account a few years ago and ever since then it seems like service has really gone downhill. What could go wrong with a debit card right?
This card has cost me more money than I ever saved. When you transfer money to the card it can take up to a week! Since the money wasn't deducted from my account right away, when it finally was deducted my it overdrew my bank account and I was hit with an overdraft fee for that AND two other transactions since I had no idea my account was in the red. After calling customer service they refused to reimburse me for this fee or give me any sort of account credit.
When I make a payment with other cards and accounts it only takes a day or two MAX - so it makes no sense why the Target Debit card takes so long!! Avoid this card at all costs, in the end if you don't watch your account like a hawk it can cost you a lot of money and you'll be out of luck.
I have had the same problems in the past with department store reward cards. By the time your payment gets transferred, your account is past due, and they charge you interest. I really don't trust them.
When you transfer money to the card it can take up to a week! Since the money wasn't deducted from my account right away, when it finally was deducted my it overdrew my bank account and I was hit with an overdraft fee for that AND two other transactions since I had no idea my account was in the red.
I've heard quite a few other people complain about this.. strange, because with a credit card it only usually takes 1 - 2 days for the funds to be credited to your account.
I can't even close the account yet because it STILL hasn't been a year since I've had it. Although I've been using it SCARCELY, I make sure to pay really early. It's just been a bane of my existence for the past 7 months! Definitely learned from my mistake. Hopefully this forum has helped people avoid this card...
Your first post about the funds taking so long to leave your bank account and then causing an overdraft, is simply your fault. It's your bank account, and you can find a simple paper register to track everything that is deposited and spent and reconcile it. It's pretty crappy service to take that long for a draft to clear your bank, but you're responsible to making sure everything will clear.
Now, I just made a post earlier in the day regarding the Target RedCard directly. I have to say this is the best card I've ever gotten. I don't care about the interest rate or due date, because my card is paid to zero within 2 days of the purchase except for one HUGE baby sale, where I spent over $550 for diapers and food. My Target has a grocery section, and I like their milk (my biggest consumption), as well as a number of other items there. We go there every Sunday after church and shop, that's at least 4 times a month. Guess what? I make at least 4 payments a month. You get 5% off EVERYTHING, INSTANTLY when using that card (including sales tax since it's discounted off subtotal). You can either walk right over to the Customer Service desk, give them your receipt and cash, and pay it to zero, or wait 2 days and pay it online if you don't want to wait because your kid is screaming or there's a huge line.
I don't have the debit card, but I don't know why you would bother getting it if you can get the store credit card. That way you don't have to wait for funds to transfer into the debit card before you can use it. But in regards to the credit card, or any credit card, interest rate and due date shouldn't matter, because if you can't afford it now or by the next paycheck, you CAN'T AFFORD IT! You should only be using a rewards card and paying it in full all the time, every time, 100% of the time. Target has the best prices in my area except a rare sale at a grocery store, or the everyday prices at Wal-Mart, but who wants to deal with Wal-Mart? I sure as heck don't, I leave there pissed every time for numerous reasons.
If you're responsible and disciplined and shop at Target a lot, the RedCard credit card is a great deal.
The OP's final statement is just ridiculous "Avoid this card at all costs, in the end if you don't watch your account like a hawk it can cost you a lot of money and you'll be out of luck." Uhhhh, it's your money, why WOULDN'T you be watching your accounts like a hawk? I sure as heck watch my money like a hawk, every day (but not twice on Sunday, just once).