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.
- Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
- Balance Transfers do not earn cash back
- 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 14.49% - 24.49% based on your creditworthiness
- Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
- No categories to track, no caps on cash back, no annual fee*
- Earn 25,000 Expedia bonus points after $2,000 in purchases within 3 months of account opening*
- Points redeemable for $350 towards your stay at a VIP Access%u2122 hotel
- 4 Expedia bonus points per $1 spent on eligible Expedia purchases including flights, hotels, activities and travel packages*
- 2 Expedia bonus points per $1 spent on dining out and entertainment*
- 1 Expedia bonus point per $1 spent on other purchases*
- Enjoy Expedia gold status each year of cardmembership*
- $100 Annual Air Travel Fee Statement Credit can be used toward airline incidentals or for either the Global Entry or the TSA PreCheck? application fees*
- Earn 15,000 Expedia bonus points after $1,000 in purchases within 3 months of account opening*
- Points redeemable for $200 towards your stay at a VIP Access%u2122 hotel*
- 3 Expedia bonus points per $1 spent on eligible Expedia purchases including flights, hotels, activities and travel packages*
- 1 Expedia bonus point per $1 spent on other purchases*
- Enjoy Expedia silver status each year of cardmembership
- Earn one Elite Qualifying Hotel Night towards Expedia gold status for each increment of $2,500 in purchases made on the card between your January and December billing statements*
- 0% Intro APR on balance transfers and purchases for 15 months; after that, the variable APR will be 16.99% - 24.99% based on your creditworthiness*
- There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
- Earn 25,000 American Airlines AAdvantage? bonus miles after making $750 in purchases within the first 3 months of account opening*
- Receive 25% savings on in-flight food and beverage purchases when you use your card on American Airlines flights*
- Earn 1 AAdvantage? mile for every $1 spent on purchases
- Reduced Mileage Awards: Fly for 5,000 fewer AAdvantage? miles roundtrip to select destinations
- Enjoy 0% Intro APR on purchases for 15 months from date of account opening and 0% Intro APR on balance transfers for 15 months from date of first transfer; after that, the variable APR will be 14.49% - 24.49%? based upon your creditworthiness*
- There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater*
- Earn 2X Points on Dining Out & Entertainment
- Earn 1X Points on All Other Purchases
- Points are redeemable for gift cards to popular retailers, restaurants, and department and home stores. 2,500 ThankYou? Points can be redeemed for a $25 gift card at thankyou.com
- No expiration and no limit to the amount of points you can earn with this card
- No annual fee*
- Exclusively for Costco Members: Go Big with Cash Back Rewards
- 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- 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
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.
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.
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.
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.
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.
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.