Target: Apply for a new Reloadable RedCard, Get One-Time Coupon Expired

Okay, I signed up and got approved. Here to clear up confusion.

Currently Target has 3 card programs:
1. RedCard Credit Card (Mastercard)
2. RedCard Debit Card (not a debit card in traditional sense, more like a charge card/store card with an authorization from you to EFT from your bank account elsewhere)
3. RedCard Reloadable (a demand deposit account by Pathward, National Association, Member FDIC, don't worry about the word demand, remove it and you're left with "deposit account," in other words a checking account or, at the very least, a cash management account)

Many Slickdealers in this thread posted confusion of why they demand SSN, why do they want to know your occupation, why do they need to know the expected deposit amount. Some wondered why they got rejected when they have 800+ credit score. And this is why. Target Reloadable is a banking product. Not credit, not store card. The partner bank, Pathward, is required by law to obtain these sensitive information from you. And this also explains why you can get rejected when you have 800+ credit score. One person on this thread reported being approved even when his/her credit file is locked. And rightly so, because again this is not a credit product. Pathward does not check your credit. It however may check your deposit account history against popular verification services like ChexSystems. So check on that if you got denied. Did you open too many bank accounts in the past few months?

Target Reloadable is basically a banking product, no different from any other fintech like SoFi, Chime, etc. It offers a full-fledged Visa debit card that can be used anywhere, even internationally. It will give you an account number along with a routing number, and a direct deposit service. It has main account, and you can create sub accounts to manage your money. You can even add goals to set aside money for vacation, presents, and other projects. You can do a mobile deposit via its Mobile Check Capture service. There's ATM service. There's Bill Pay service. It has its own mobile app where you can manage all of your financial needs. And lastly, you can even request fund from another RedCard Reloadable customer!

So as you can see, this is not your typical store card anymore. I hope this helps. No more confusions!


Edit: So I just learned that Target used to have a similar program called REDbird, a direct competitor to Walmart's Bluebird. However, the REDbird program got killed for good in 2018. So I guess this is a resurrection. The Target Reloadable!

Let me tell you something son. In the world of the internet when you find an answer you share it.

Don't have either card and just signed up for the reloadable. Account approved. Now what?

BTW, there's a lot of exclusions.

RedCard $40 offer: Get a coupon for $40 off a qualifying purchase over $40 when you are approved for a debit or credit RedCard in-stores and at Target.com between 10/30/22 - 12/10/22. The coupon will be mailed to approved cardholders with their RedCard and will be valid through 1/09/23. Excludes alcohol, Apple products, Barbie camper and houses, Beats Fit Pro, Beats Flex, Beats Powerbeats Pro, Beats Studio Buds, Bose, Bratz Collector and Designer Dolls, Bullseye's Playground, Cards Against Humanity, Casper, clinic & pharmacy, Cricut, dairy milk, DockATot, Dockers, Do-a-Dot, DSLR cameras & lenses, Dyson, Elf on the Shelf, face masks (Dolan, Sanctuary & Sugar Fix brands), Fisher Price Laugh n Learn, Fitbit, Funko Standard Pop, gift cards, GilletteLabs Heated Razor Starter Kit by Gillette – 3ct, Google, Hair Appliances, HALO Baby, Hasbro Games (Classic Monopoly, Connect Four, Jenga, Sorry, Trouble), Healthy Roots Dolls, Hot Wheels Ultimate Garage, Honest Baby, HP Inc., Infant Optics, Instant Pot, JBL, LEGO, Levi's Red Label, LG OLED and QNED TVs, limited-time designer partnerships, Luvable Friends, Mega Bloks, Meta Oculus and Portal, mobile contracts, Motrin, Ninja, Nintendo hardware and Switch games, Polder, Peg Perego, Philips Avent, Plan B, power shave, power dental, prepaid cards, Play-Doh Ice Cream Truck Playset, PlayStation consoles and accessories, Revival, Samsung TVs, Shark, simplehuman, Sonos, Sony Electronics, Take Action, Target Optical, Tempur-Sealy, Trading Cards, Tylenol pain relief, Tylenol PM, Ulta Beauty at Target Brands, Unlocked phones, Vera Bradley handbags, Weber, and What Do You Meme? game.