Target Debit Card????

[espana94]

Every time I shop at Target, the cashiers have really pushed getting a "Target Debit Card." As near as I can tell, the card is linked to my existing checking account, but is a Target branded card. According to the cashiers, I will save 5% every time I shop if I use the Target Debit card versus my bank debit card but the cash will still come out of my checking account.

I would love to save an additional 5%on all of my Target purchases; but, I am not sure I am comfortable linking their debit card to my bank account.

Also, I am really struggling to understand how a Target-branded debit card is beneficial to Target. What are they getting out of this transaction? I know they are not doing this out of the goodness of their corporate heart.

Does anyone have the Target debit card? What has been your experience?

Am I totally over thinking this and missing out on a great way to save more money at Target?

Let me know what you think! Thanks, Espana

 

[Swimalie]

I thought the Target Card is a regular credit card, not a debit card. I could be wrong, I guess. I haven't looked in to it since I can get up to 3% back on all purchases, not just Target with the credit card I have. As for their benefit, they pay a fee for every credit card transaction. If a customer has their card, then what they pay is a savings to them. Sort of paying themselves vs another company.

 

[antmaril]

Every time I shop at Target, the cashiers have really pushed getting a "Target Debit Card." As near as I can tell, the card is linked to my existing checking account, but is a Target branded card. According to the cashiers, I will save 5% every time I shop if I use the Target Debit card versus my bank debit card but the cash will still come out of my checking account.

I would love to save an additional 5%on all of my Target purchases; but, I am not sure I am comfortable linking their debit card to my bank account.

Also, I am really struggling to understand how a Target-branded debit card is beneficial to Target. What are they getting out of this transaction? I know they are not doing this out of the goodness of their corporate heart.

Does anyone have the Target debit card? What has been your experience?

Am I totally over thinking this and missing out on a great way to save more money at Target?

Let me know what you think! Thanks, Espana

I am curious about this, too. I have been very tempted to get a Target Debit Card in order to save 5% on my Target purchases, but I am a little reluctant. I'm not interested in a credit card, but a debit card would work for me. I wonder if there is a down side.

 

[DisneyNut4Life]

It is debit card. I signed up for one and have used it to save the 5%. I have used it probably 8 times so far and it hasn't created any problems with my checking account.

I THINK the benefit to them is if you are using there debit card, even if it is linked to your checking account...they don't have to pay the credit card transaction fees.

That is just my guess, that is the only thing that makes sense to me.....

 

[spacemountainmom]

I've had mine for a couple of years now and really haven't had any issues. The only problem I had was the one day I ordered a years worth of contact lenses and then tried to grocery shop. I guess I exceeded some type of limit on purchases??? The cashier didn't know. I just whipped out my regular debit card and paid for my groceries with that. I lost the discount, but it wasn't the end of the world.

I like saving the 5% on everything. I like it even better now since they finally opened a SuperTarget close enough to me that I can routinely shop there for groceries.

You can still get a Target Credit Card but I prefer the debit card.

I also use the Target pharmacy and earn an extra 5% day every time I fill 10 prescriptions.

I agree with DisneyNut, Target is not losing money on swipe fees when you use their card. They do when you use your bank card. The debit card is also better for them as it is taking the money right out of your account. They don't have to worry about you defaulting on your credit card, they are getting their money right now.

 

[descovy]

What's in it for Target? The main thing is that research shows that people with store cards spend more than don't use store cards.

I think it's a good deal. The 5% is instant. Right on the reciept. No waiting to redeem rewards. Also, and this is minor, but for convenience sake, when you go to return an item they can do a reciept lookup on your debit/credit card. Sure this goes for any debit/credit card, but rather than trying to remember which one you used, you ca always reach straight for the Target card.

 

[descovy]

[
No, the 5% everyday replaces the old 10% savings reward when you spent $1000. There is no extra award anymore for spending $1000. However, the pharmacy rewards still continue, and yes you can use your pharmacy reward combined with the 5%









QUOTE=spacemountainmom;41125847]I've had mine for a couple of years now and really haven't had any issues. The only problem I had was the one day I ordered a years worth of contact lenses and then tried to grocery shop. I guess I exceeded some type of limit on purchases??? The cashier didn't know. I just whipped out my regular debit card and paid for my groceries with that. I lost the discount, but it wasn't the end of the world.

I like saving the 5% on everything. I like it even better now since they finally opened a SuperTarget close enough to me that I can routinely shop there for groceries.

You can still get a Target Credit Card but I prefer the debit card.

I believe that you also still can earn an extra 5% day everytime you spend $1,000. I also use the Target pharmacy and earn an extra 5% day every time I fill 10 prescriptions.[/QUOTE]

 

[spacemountainmom]

I remembered that they dumped the $1,000 thing when they went to the 5% all of the time so I deleted it from my post.

I think I like the new way better. I save every time I shop.

 

[seashoreCM]

You can still get a Target Credit Card but I prefer the debit card. .

Does the Target credit card also give 5% off of everything? Or is it also a Mastercard or Visa and even usable at other stores?

I would get and use a debit card only if it gave me discounts that my credit card did not.

 

[StitchandPooh'sMom]

Does the Target credit card also give 5% off of everything? Or is it also a Mastercard or Visa and even usable at other stores?

I would get and use a debit card only if it gave me discounts that my credit card did not.

There is a Target credit card (only good at Target stores and Target.com), a Target Visa (good anywhere Visa is accepted) and a Target debit card. All give 5% off your total (there are a few exceptions like purchasing Target gift cards). The Target debit card can't be used online.

I have the Target credit card and use it all the time. I use my Disney Visa everywhere else.

 

[ccgirl]

I am always surprised when people get concerned linking their debit card. If you use your debit card; it's still on file. All debit cards should have fraud coverage. As others have said, the 5% is off of everything every time. Are there really other charge cards out there that do that? I know my Discover has "bonus" things at 5% certain months out of the year but none, that I have seen, are 5% off everything all the time. Plus, I like that it is not a charge card. The only downside I have is that I have two checking accounts. So, I only get the 5% when I use the linked card. If I want to use the other checking account (more money in it for example) I can't get the 5%. Not sure if you can have two Target debit cards or not.

 

[tinker&belle]

I was skeptical as well because it seemed like too good a deal, but I went ahead and got one a few weeks ago. I have gotten 5% off everything except pharmacy. It takes a few days longer to post to my account, but besides it functions like my regular debit card. I really like mine.

 

[JB2K]

Also, I am really struggling to understand how a Target-branded debit card is beneficial to Target. What are they getting out of this transaction? I know they are not doing this out of the goodness of their corporate heart.

Simple -- Target is the only department store/mass merchandiser that still owns their credit card porfolio (and has their own in-house bank running it).

By processing a card they own, Target saves on the interchange fees charged by the bank for every card swipe (which is 3% for MC/Visa and 5% for AmEx/Discover).

It's also cheaper than accepting checks (and low-risk).

Otherwise, the card is good, and the savings are real.

 

[JB2K]

There is a Target credit card (only good at Target stores and Target.com), a Target Visa (good anywhere Visa is accepted) and a Target debit card. All give 5% off your total (there are a few exceptions like purchasing Target gift cards). The Target debit card can't be used online.

I have the Target credit card and use it all the time. I use my Disney Visa everywhere else.

FYI, Target is no longer accepting new applications for their Visa card.

 

[minnie1928]

I am always surprised when people get concerned linking their debit card.

Something else to think about that I think people tend to forget. Every time you write a check, you are handing someone (likely a complete stranger) a document that not only tells them where you bank, but your account number at that bank! I'd much rather use a debit card that I swipe and put directly back into my wallet.

FWIW, i recently got the Target debit card and love it!

 

[Swimalie]

Something else to think about that I think people tend to forget. Every time you write a check, you are handing someone (likely a complete stranger) a document that not only tells them where you bank, but your account number at that bank! I'd much rather use a debit card that I swipe and put directly back into my wallet.

FWIW, i recently got the Target debit card and love it!

You are very right about the checks. However, if someone gets a hold of your debit card number/account, they can take money and you have to fight to get it back. Debit cards are not as secure as using a credit card.

 

[minnie1928]

You are very right about the checks. However, if someone gets a hold of your debit card number/account, they can take money and you have to fight to get it back. Debit cards are not as secure as using a credit card.

Totally agree! I rarely use a debit card because of it (former banker here...heard too many horror stories).

 

[charming23]

I have the debit card since February and have had no issues. I like the extra 5% off and I use it twice a month when I go to get my household items. It does take a few days to post to my account but I like it.

 

[kshilt]

The Target Debit Card can also be linked to your local school and Target will donate 1% of the value of your purchases to the school. Every little bit helps...

 

[kaytieeldr]

The other advantage to Target is that shoppers with the debit card are more likely to shop there and spend more money, specifically due to the 5% discount.