I know a lot of stores are offering these now - debit cards to use in the store that come directly out of your bank account. I finally caved and got the one for Target. It's free - no fees, no interet charges, etc., and you get a 5% discount on everything you buy each time you use it for purchase. I've save a couple of bucks so far, so I can't find anything wrong with it so far. Since I shop at Target frequently, I'll be using the card a lot.
I had never heard of this before. My fisrt thought was, "why not just use the one debit card from the bank?" After I finished reading your post, I get it now! So the advantage is a store discount at that particular store. I already have too many plastic cards in my wallet but for a discount, I will carry more. It sure would be nice if all the stores would just simply reduce their prices, though.
Do they run a credit check to get this card or do you just apply for it? I applied for their credit card and was declined - too many student loans on my credit at the moment. It would be nice to use a debit card that gives you a certain percentage back and without annual fees!
I shop at Target all the time, and I might get one of these debit cards. Saving 5% on all your purchase is not bad. I never knew they even had a card, I learned something new today.
I didn't know they had such a thing. I don't shop at Target as often as I used to since the store near me closed. I think I would still like to get a card though. There is a store that is about 25 minutes from me. I go there every once in awhile. If I get a discount I might go there more often. Thanks for sharing!
Hmmm... sounds sketchy. 5% and no catches seems like they could be losing quite a bit of money. I tend to get frightened by those store exclusive debit/credit cards.
No credit check. Since it comes out of your bank account, you're not borrowing any money. It's just their way of giving you an incentive to shop at Target with the small discount. All I had to do was give them my basic info. and a cancelled check, and they linked it right up to my bank account. I said "no" several times when asked if I wanted to sign up for one when going through the checkout, but finally decided it doesn't hurt to save a few bucks. It's not like a credit card.
I understand the allure of this type of promotion. I just wouldn't want a corporation to have direct access to my bank account like that. I don't even use the automatic billing.
This sounds like a great way to save however leaving a check with my information at a store scares me a bit. Thats an easy way to give someone full access to steal your identity and with how things are nowadays its even more probable.
