Target REDcard Credit Card
With
Capital One Credit Cards

It happens nearly every time you step up to the checkout: the salesperson asks if you’d like to save 10%, 15%, or 20% off your purchase by applying for a store credit card.Unfortunately, many store-branded credit cards often have high interest rates and low minimum payments, offsetting the discount in the end. That’s why your answer should usually be “No, thanks.”However, The Target REDcard credit card offers several benefits that may appeal to responsible cardholders who regularly shop the retail giant.

Target REDcard Credit Card (4)

Capital One Venture Rewards Credit Card

  • Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $400 in travel
  • Earn unlimited 2X miles per dollar on every purchase, every day
  • Fly any airline, stay at any hotel, anytime
  • Travel when you want with no blackout dates
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • No foreign transaction fees
  • $0 intro annual fee for the first year; $59 after that
  • Get a metal Venture Card when you apply today

Capital One VentureOne Rewards Credit Card

  • Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel
  • Earn unlimited 1.25 miles per dollar on every purchase, every day and pay no annual fee
  • Fly any airline, stay at any hotel, anytime
  • Enjoy a low intro APR on purchases for 12 months; 12.99%-22.99% variable APR after that
  • Travel when you want with no blackout dates
  • No foreign transaction fees
  • Miles won't expire for the life of the account and there's no limit to how many you can earn

Capital One Quicksilver Cash Rewards Credit Card

  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • Use your Quicksilver card and get 50% back as a statement credit on your monthly Spotify Premium subscription, now through April 2018
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 9 months; 13.99%-23.99% variable APR after that
  • Balance transfers also have a 0% intro APR for 9 months; 13.99%-23.99% variable APR after that; a 3% fee applies to each balance transferred
  • Pay no annual fee or foreign transaction fees

Sony Card from Capital One

  • Earn 5,000 bonus points after your first purchase within 90 days from account opening
  • 5 points per $1 spent on Sony? purchases at authorized retailers, with purchase confirmation
  • 3 points per $1 spent on movie theaters, movie rentals, music downloads and digital streaming and subscription services
  • 1 point per $1 spent on all other purchases
  • Redeem for Sony products, movies, music & more
  • 0% intro APR on purchases until March 2018, 14.99% - 24.99% variable APR after that
  • No annual fee
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Alternative Rewards Credit Cards

Chase Freedom Unlimited® Credit Card

  • Unlimited 1.5% cash back on every purchase – it's automatic
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum

Blue Cash Everyday® Card from American Express®

The Blue Cash Everyday® Card from American Express® offer generous cash back rewards, bonuses, and a number of additional benefits.There is also a Blue Cash Preferred® Card from American Express® (Review) version, an upgraded card with additional reward opportunities with an annual fee.

Blue Cash Preferred® Card from American Express®

The Blue Cash Preferred® Card from American Express® has got a lot going for it. Though it comes with an annual fee of $95, you can get a $200 statement credit when you spend $1,000 in the first three months to help offset the cost. There is also a Blue Cash Everyday® Card from American Express® (Review) version of this card with no annual fee, but lower reward earnings.

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Target REDcard Credit Card Bascis

Target uses the name “REDcard” to refer to three different products:

1. Target credit card: This is a store card, accepted at Target and Target.com. There is no annual fee, but as with most store cards, the interest rate is on the high side: 23.15%, as of November 2016.

2. Target debit card: This card is linked to your checking account, and your purchases are deducted each time you use the card. It’s accepted at Target and Target.com. There’s no annual fee.

3. Target MasterCard. This is accepted anywhere that takes MasterCard. However, new cardholders cannot apply for the Target MasterCard. It’s an upgrade that Target may offer you later. It has no annual fee or foreign transaction fee, and the annual percentage rate is the same as on the Target credit card.

All three cards give you the same benefits outlined above: 5% off, free shipping, extra time for returns. The MasterCard doesn’t give you any rewards outside of what you spend at Target. All are chip-and-PIN cards, meaning you need to enter your PIN each time you use it. This isn’t a bad thing, because such cards are more secure than chip-and-signature cards.

Why to Apply for Target REDcard Credit Card?

1. Discount on shopping. You get a 5% discount on all purchases you make with the card, whether in store or online. This is an automatic discount that occurs at checkout, which doesn't require accumulating a certain amount or redeeming anything in order to take advantage of the discount. You also receive the discount on all purchases and not just certain merchandise in specific categories, providing a savings on a wide variety of products. This is comparable to a cash back card that gives 5% back on purchases.

2. Extra days for returns. If you need to return a purchase, you receive 30 extra days to do so when you purchase with this card. Target's return policy is 90 days for unopened items in new condition, but as a cardholder, you receive a little extra time if the product you have purchased doesn't meet your needs.

3. Free shipping. You can not only save money shopping Target's many sales and discounts, but you can also skip the drive to the store and standing in line, by shopping online at Target.com. If you use your Target credit card, shipping is free with no minimum purchase, or you can get free 2-day shipping on eligible items when your spend more than $35 on your order. Although other retailers offer free shipping, this benefit sometimes comes with a price.

Drawbacks of Target REDcard Credit Cards

1. Only Target purchases. Because this card is a store card and not a Visa or MasterCard, it isn't a credit card that you can use anywhere except Target stores.

2. High APR. The APR, as with most store cards, is exceptionally high. If you carry your balance from month to month, the 5% discount you receive for your purchases isn't going to be worth the money you pay in interest. In order to get the most from the card, it is important that you are diligent in paying your balance in full each month and avoid paying interest on your purchases.

Should You Get Target REDcard Credit Card?

The Target REDcard offers loyal customers an opportunity to save 5% on purchases, or even more if they look for chances to stack discounts with Cartwheel and Target subscription services.

However, be careful! If you get behind on payments, this card’s high interest rate & fees can negate the 5% savings. It’s best to pay off the balance every month or choose the Target REDcard debit card version instead.

Alternatively, if you don’t spend at Target very often, there’s likely a better cash back card out there for you.

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