target card question

[plumeriainseattle]

I have the red card. New to using it. I understand it is tied to my bank account. But, I have noticed it takes a couple days to even show up in my bank account. So question. Let's say my bank account balance is $10 and I do a target red card purchase for $20. Would it be declined? Or would it go though and then my bank would either bounce it back or pay it (depending on how my account is setup) in the 2-3 days it takes to hit the bank? Not trying to skirt the system, I am genuinely attempting to understand the nuts and bolts of how this works.

 

[dpswift]

It works like a check. If you have the money in your account it can be taken out the next day. If you do not have the money it will go into your over draft protection or if you do not have over draft protection it will BOUNCE. It is not a good idea to chance it because you never know when it will be taken out.

 

[plumeriainseattle]

Thanks for helping me understand. I figured it worked that way, but wasn't sure.

 

[momto2inKC]

No, it would not be declined. When I use mine online or in store it takes it 3-4 days to actually hit my bank account.

 

[LJSquishy]

Yep, as the others stated, your Target RedCard purchase will go through and if you do not have money in your checking account when it posts you will have a negative balance with your bank and will have a NSF charge unless you have overdraft protection that is set up to transfer money from your savings account.

It really bugs me that it takes 3 days or so for Target to post to my account because I have to keep track in my head of what is still pending but it is worth it for the 5% discount (our sales tax is 8.7% so every little bit helps). I've really saved a LOT this year combining Cartwheel, Target coupons & the RedCard discount.

 

[momto2inKC]

Ok, so I just decided to check my latest trip and it actually hit my bank account the next day. So maybe they have made a recent change.

 

[starann]

Mine takes 2 days....if I shop on Tuesday, it comes out on Thurs.

 

[wunkmom]

2 days here too. Tuesday's trip posted to bank account Thursday.

 

[*Seanaci*]

It can take 2-3 days to debit your checking account. Be aware though that Target will charge you an Insufficient Funds Fee (even if your overdraft covers the purchase amount). We've had one purchase bounce back and then gotten an invoice from Target for the IFF. Now we're more careful when making Red Card purchases and often times xfer money from savings or our LOC to cover the purchase and keep it from bouncing.