Targets credit card gives consumers a choice between the stores own debit card and one that bears a MasterCard logo–purchases are accepted wherever MasterCard is accepted. Unfortunately, Targets store credit card is not a 0% APR credit card, so there is no balance transfer intro APR offer, nor is there any purchase APR.
For people who buy lots of stuff at Target, and are likely to pay the balance off fast, Targets credit card might be a great option, thanks to 5% savings and the lack of an annual fee. The Target RedCard could offer big savings thanks to the 5 % discount that Target offers for purchases in Target stores and online, especially if you shop a lot at Target. The Target RedCard offers recurring customers a way to save 5 percent off purchases, or even more, if they are looking for opportunities to combine discounts with the Target Circle and Target membership services.
Look for Target Circle discounts, which can be anywhere from 5% to 50% off items, in addition to the 5% discount from RedCard. If you combine 5 percent with offers from Target Circle and other cashback secrets at Target, you could save tons when shopping at Target. If Target is your go-to shop, you may want to use the 5% off discount whenever you shop at Target.
On the downside, the 5 % discount is only available in Target and its partners, meaning that savings may be limited. Even better, the 5 % discount is also available for some types of gift cards (for travel, dining, and movie tickets, for instance) and purchases made at Starbucks, which is located within Target. If you plan on using your Target Mastercard at other retailers, keep in mind that the 5% shopping discount applies only to purchases made at Target and the stores website.
The 5% off that you get for all of your purchases at a retail store is one of the best rewards available on a credit card with no annual fees. While Target offers the 5% savings on purchases, other credit cards offer cash-back, which is when a credit card issuer reimburses a percentage of what a cardholder has spent on purchases. If you do not often spend at Target, chances are good that there is a better cash-back card for you.
Along those same lines, if you more frequently shop at Amazon or another big-box retailer like Walmart rather than Target, then Targets REDcard probably is not that great for you as other generic cash-back cards, or even cards that are affiliated with other stores. If you would rather shop at Walmart or another large retailer, a different rewards card would be a better choice. If you are a Target shopper, and really decide to sign up for the Target REDcard, you would be doing yourself a favor by using a different card–either one that earns cash back, or one that gives you rewards on trips–for any purchases not made at Target.
With multiple ways to redeem rewards, Targets REDcard can provide flexibility, saving money both for your purchases and travel. This card does not have a sign-up bonus, has a significantly higher APR for purchases, and offers Target-only benefits. The REDcard from Target also has a rather steep purchase APR, which can wipe out any savings you get with discounts if you carry a balance month-to-month.
If you often shop at Target, this 0 percent annual fee card can be a simple way to save on everyday purchases like groceries and home goods. The $ 0-annual-fee card gets you 5% off all qualifying purchases at Target, meaning that you will not need to wait to redeem rewards; you will receive savings at the time of checkout. Since the cards 5 percent discount is applied at checkout, you do not need to worry about accruing and redeeming rewards with this card; you will get savings right upfront.
When paying with a REDcard from Target, you will also get discounts on special gift card purchases, daily merchandise memberships, Shipt purchases (membership fees are waived), and Starbucks within Target stores. Unlike store cards such as Amazons Prime Rewards Visa Signature Card, which requires Prime membership, you will not have to sign up to a store membership program in order to unlock better discounts and benefits. If you are a regular Target shopper, whether it is in-store or online, then the cards rewards and benefits should have some appeal. You can even use this card–or any other card, for that matter–in conjunction with the Target app to get even more savings from Target.
On a positive note, when you apply for the Target REDcard Debit Card, you will not have to submit to a credit check (which may briefly lower your credit score). The Target REDcard Debit Card automatically discounts most Target purchases by 5% at the point of purchase — either online or at a register — with some major restrictions and limitations. Because Target Debit Card uses your existing checking account to pay for Target purchases, it removes the risk of incurring an unmanageable amount of debt, while giving you the benefits of a 5% credit card rebate and other benefits. If you are concerned about incurring unavoidable interest charges, consider choosing a Target debit card instead.
Any interest charges you may run up could snowball quickly, rapidly wiping out the value of any discounts that card offers. Walmart offers 5 percent in early days via Walmart Pay, but its normal 2 percent cash-back rate falls far short of what the retailer offers. If you are a regular Target shopper looking to cut down your monthly grocery bills, it is tough to argue with 5% off (almost) across the board. Target Store Credit Cards are designed to give Target customers an overall better shopping experience, offering cardholders 5% discounts on purchases, either online or in-store, as well as exclusive benefits such as free standard shipping and extended returns.
Last Updated on June 9, 2022
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