Will this hurt my credit?

[caravarela]

I have no credit and don't know much about it. I was just at Target and applied for a debit card. The cashier somehow accidentally ran it as a credit application. I immediately went to guest services where they opened a debit account, voided the credit charge, and I called the 800 number to cancel the credit card.

Is this opening/closing going to hurt my credit at all?

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[Shelly F - Ohio]

It will show as an inquiry on your credit and it does have an impact but very small. Now they did also do a credit inquiry when you the opened the debit acct its standard procedure so you credit now has two inquiries by Target.

 

[Callie]

I don't think they run a credit check when you open up a debit card.

It may look bad in the future when applying for loans possibly, because it will hurt the age of accounts (if they approved you for a card, and then you shut it right away).

 

[supersnoop]

Multiple inquiries in a short amount of time are treated as a single inquiry. Actually, I'd be very surprised if there were two inquiries here, because they can reuse the information from the first one.

 

[caravarela]

Thanks everybody. I don't use credit at all, but in a few years we'd like to try to move and I'd hate to have a dumb error like this hurt us. I didn't know if it was a big deal or not.

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[sunshinehighway]

It will show as an inquiry on your credit and it does have an impact but very small. Now they did also do a credit inquiry when you the opened the debit acct its standard procedure so you credit now has two inquiries by Target.

They don't do a credit check for the debit card

 

[jedijill]

Thanks everybody. I don't use credit at all, but in a few years we'd like to try to move and I'd hate to have a dumb error like this hurt us. I didn't know if it was a big deal or not.

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If you are talking about getting a mortgage eventually, not using credit at all is going to look far worse than closing a credit card.

Jill in CO

 

[crisi]

If you are talking about getting a mortgage eventually, not using credit at all is going to look far worse than closing a credit card.

Jill in CO

Agree, you'd be best off getting a credit card and paying the balance in full so you have a track record.

 

[bumbershoot]

They don't do a credit check for the debit card

When I started going through the online application for the debit card, it indicated that it would want my SSN. Is this not true? If it is true, why else would they ask for it if they aren't running a credit check?

 

[sunshinehighway]

When I started going through the online application for the debit card, it indicated that it would want my SSN. Is this not true? If it is true, why else would they ask for it if they aren't running a credit check?

I don't think you can do the debit card application online. At least you couldn't a few months ago when I got mine. If they do all for SSN for the debit card, it could have something to do with identity verication. I know prepaid cards like amex and visa (not giftcards) require SSN but they don't do credit checks. It has something to do with the Patriot Act.

I don't remember if they asked for SSN but the debit application will want a voided check. You have to either mail the application in with a check or bring one to the store if you apply .

 

[lauti]

I don't think you can do the debit card application online. At least you couldn't a few months ago when I got mine. If they do all for SSN for the debit card, it could have something to do with identity verication. I know prepaid cards like amex and visa (not giftcards) require SSN but they don't do credit checks. It has something to do with the Patriot Act. I don't remember if they asked for SSN but the debit application will want a voided check. You have to either mail the application in with a check or bring one to the store if you apply .

Yes,the SSN is for legal reasons, Patriot Act, and for the debit card is not to run a credit check.

Easiest way to do the debit card app is in store with a voided check.

 

[Kellydelly]

Thanks everybody. I don't use credit at all, but in a few years we'd like to try to move and I'd hate to have a dumb error like this hurt us. I didn't know if it was a big deal or not.

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It is a good idea to have some credit accounts so you can establish yourself as a good credit risk for any future loans.

 

[mrslur]

I don't think you can do the debit card application online.

I just did this last Friday online. Took all of ten minutes to apply, get approved and make my purchase.

 

[kbr345]

Target did the same to me. I realized it before I left the store and cancelled it. However it did go through (in as little as 3 minutes). And I too was getting a mortgage that same month so I saw it. But no problems. I must have said three times "you are running this for a debit card, right?" I was mad! A year later is when I got the debit card since I had "trust" issues. I hate debt too!

 

[elgerber]

If you are talking about getting a mortgage eventually, not using credit at all is going to look far worse than closing a credit card.

Jill in CO

Agreed. I am processor and there are some minimum tradeline requirements for mortgages, if you have no credit cards at all, you might have no credit score, or insufficient tradelines.

 

[ICF]

Agree, you'd be best off getting a credit card and paying the balance in full so you have a track record.

100% agree.

 

[caravarela]

Target did the same to me. I realized it before I left the store and cancelled it. However it did go through (in as little as 3 minutes). And I too was getting a mortgage that same month so I saw it. But no problems. I must have said three times "you are running this for a debit card, right?" I was mad! A year later is when I got the debit card since I had "trust" issues. I hate debt too!

I asked twice during the process too, "this is the debit card right?" And she assured me it was. Until the receipt printed out. I was pretty annoyed. I've never had a credit card, and a stay at home mom who would not open a line of credit without discussing it with my husband first!

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[caravarela]

100% agree.

With our current mortgage, they saw that I had no credit so they just ran everything in my husbands name with no problems. I'd rather not mess with credit and risk having another account to keep track of if I don't have to.

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[jedijill]

With our current mortgage, they saw that I had no credit so they just ran everything in my husbands name with no problems. I'd rather not mess with credit and risk having another account to keep track of if I don't have to.

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I totally get it but what happens if, god forbid, something happens to your husband? You will have zero credit and will be up the proverbial creek. You should have some credit in your name.

Jill in CO

 

[Callie]

Target allows you to pay the credit card off right in the store...one of the better ones to have.

Same with kohls.