Had this card for 3 years. Only used twice, with one of those times being 1 month ago for a 100.00. Started at $500 limit and progressively they increased the limit to 5000.00 even though I had only used it twice. This week I receive a letter stating that they lowered my credit limit from 5000.00 to 200.00. The reasons stated in my letter were experian based comments: 1/2="too few accounts have recovered from delinquency" 2/2="Credit report does not show sufficient mortgage equity".
In scared reation to those comments I quickly pulled my experian credit report and lucky for me nothing negitive appeared. Flawless report. Called Targets and after being bounced around a bit, I spoke with a gentlemen whom informed me it was lowered due to low dollar amount usage. I asked him to give me a reason as to why i would want to keep the account open. I gave him an example that if i was to come down and spend 100 dollars on a new video game, my usage ration of that new limit would be %50 and would harm my credit score for the month. His polite response was I could simply go to the curtosy desk and pay it off right after charging on the card. I had them close the account. I STRONGLY recommend you not waste your time with Targets and their Charge card.
For me personally, I found this offending enough to effect my shopping habits and will not be taking the hour drive to shop at a targets nor their online site.