Cancelling a credit card is an essential measure in financial management. Whether you aim to streamline your wallet, settle debts, or switch to a card with superior advantages, it is crucial to approach the cancellation process correctly. This comprehensive guide will provide you with a detailed walkthrough on how to cancel a Target Credit Card.

Target Credit Cards, commonly referred to as RedCards, provide various perks for regular shoppers. However, they may not suit everyone’s needs. If you have made the decision to bid farewell to your RedCard, this step-by-step guide will assist you in accomplishing the task.

How To Close Target credit card?

Follow these steps for smooth cancellation of your Target credit card:

Pay Off Your Balance:

• Verify your balance: Access your online account to verify your present balance.

• Settle your balance: Make a payment to settle your outstanding balance. It is not possible to close an account with an unpaid balance.

• Allow time for payment processing: Your payment may take a few business days to be processed.

• Confirm a balance of $0: Log in to your account again to confirm that your balance is now $0.

Redeem Any Remaining Rewards:

• Verify rewards availability: Review your account details to determine if there are any remaining rewards.

• Utilize your rewards: If you possess any rewards, ensure that you redeem them prior to closing your account.

• Reflect on the consequences: Keep in mind that unredeemed rewards will be forfeited upon account closure.

• Validate redemption: Double-check that all rewards have been successfully applied to your account.

Things to Consider Before Cancelling Target Credit Card:

• Credit Score Impact: Closing a credit card can have an impact on your credit score, so it’s important to think about this before making a decision.

• Outstanding Balance: Make sure to pay off any outstanding balance before closing your account.

• Recurring Payments: Check for any recurring payments associated with your card and switch them to a different payment method.

• Rewards and Benefits: Think about any rewards or benefits you might lose by closing your account.

Contact Customer Service:

• Prior to calling, ensure you have your account information readily available.

• Contact Target RedCard services at 1-800-424-6888.

• Inform the representative of your desire to close your account.

• Verify with the representative that your account has indeed been closed.

Also Read: How To Cancel PNC Credit Card

Contact details:

How to Cancel via Phone:

• Locate the Customer Service Number: Check the back of your credit card or your monthly statement for the customer service number.

• Gather Your Information: Ensure you have your account number and personal identification information on hand.

• Contact Customer Service: Inform them of your desire to cancel your card. You may be transferred to a retention specialist who will attempt to persuade you to retain your card.

• Obtain Confirmation: Request a confirmation number or an email verifying that your account has been successfully closed.

How to Cancel via Email:

• Locate the Customer Service Email: Go to the Target website in order to locate the email address for customer service.

• Compose Your Email: Craft a brief and direct email indicating your desire to close your account. Remember to provide your name and the last four digits of your account number.

• Transmit Your Email: Send your email to the designated customer service address.

• Await Confirmation: Expect to receive a confirmation email within a few days. In case you do not receive one, consider following up with a phone call.

How to Cancel through Customer Support:

• Access the Target Website: Visit the Target website and locate the customer support page.

• Sign In to Your Account: Log in to your account by entering your username and password.

• Locate Account Settings: Find the section where you can close your account.

• Verify Your Decision: You might be required to respond to security questions or confirm your decision via a confirmation email.

Cancellation Policy of Target Credit Card:

• No Cancellation Fee: Target does not impose any charges for closing a credit card.

• Interest Charges: It is important to note that you remain accountable for any interest charges that were accrued prior to the cancellation.

• Final Statement: Upon cancellation, you will receive a final statement which will display any remaining balance.

• Account Closure: Once your account is closed, it cannot be reopened. If you wish to avail of Target’s credit services again, you will need to apply for a new card.

Alternatives of Target Credit Card:

• Explore alternative store cards that may provide superior rewards or benefits.

• Cash back credit cards have the potential to offer rewards on all purchases, not limited to Target purchases.

• Opting for a low interest card can result in significant savings on interest charges if you have an outstanding balance.

• Numerous credit cards provide rewards without any annual fees.

Alternatives to a Target credit card include other retail credit cards, general-purpose rewards credit cards, and cashback cards. Retail credit cards from other stores may offer similar benefits, such as discounts, exclusive deals, and rewards for shopping. General-purpose rewards credit cards can be used anywhere and might offer points, miles, or cash back on all purchases, providing more flexibility than a store-specific card.

Follow Up:

• Await a confirmation letter: The target entity is expected to send a letter verifying the closure of your account.

• Review your credit report: Approximately a month after the closure, review your credit report to verify that the account status is listed as “closed”.

• Address any discrepancies: If your credit report does not indicate the closure, address this issue with the credit bureau.

• Maintain documentation: Retain any records or confirmation numbers associated with the closure of your account.

Conclusion:

Cancelling your Target RedCard involves clearing your balance, redeeming rewards, and understanding potential credit score impacts. Follow our comprehensive guide for phone, email, and online cancellation methods, and explore alternative cards before making a final decision. Remember, closing an account is permanent, so weigh the pros and cons and keep documentation for future reference.

Also Read: How To Cancel Maurices Credit Card

FAQs:

How do I remove my credit card from my Target account?

If you’d like to remove your RedCard from your Wallet account (doing this will also remove that RedCard from your Target.com account) use the following steps: Select the Account tab in your Target app. Select Payment cards. Select Edit next to the card you’d like to remove and follow prompts to remove card.

How can I cancel my credit card membership?

Calling your credit card issuer’s customer service department is the most dependable way to cancel your credit card account. Credit card companies typically do not allow you to cancel an account online, but it is possible with a handful of major issuers.

Can you discontinue a credit card?

Call your credit card issuer to cancel your card. Be prepared that you may be given a counteroffer to keep the card open. If you’re sure you want to close, say no and continue with the process. You’ll want to confirm that you don’t have an existing balance on the card.