If you shop for everything at Target - from clothes and electronics to food and household essentials - you can benefit from savings and perks that come with the Target RedCard Credit Card. Or you can have the same benefits with a Target Debit Card. Below, we are breaking down RedCard credit card's perks and compare the card with a regular credit card to help you decide if the Target card is a good fit for you.
Why we like the Target RedCard Credit Card
When approved for a target credit card, you get a coupon for $40 off a future qualifying purchase over $40. That's a rather good start. Plus, you will always receive 5% off on your purchases at Target. That's it, no points to count and make sure they don't expire. You simply get instant savings in-store or online.
What is also great, you don't have to worry about redeeming your Target rewards. You get a 5% discount automatically, right at the checkout. In addition to rewards, you can enjoy free standard shipping and free 2-day shipping on eligible items.
Why we don't like the Target RedCard Credit Card
While the RedCard credit card gives you a certificate upon approval, it doesn't have a traditional sign-up bonus. Plus, all redemptions are limited to Target. Since you do not earn rewards but get instant savings, you won't have an opportunity to use your rewards for something else except for Target purchases.
The Target card's interest rate is too high to allow yourself carrying a balance on the card. Plus, there's no 0% intro APR offer on purchases. So, if you carry a balance on the card, your debt will grow pretty fast, wiping out the value of the discounts the card offers.
IS THE TARGET REDCARD WORTH IT?
- Sign-up bonus: Save $40 on a future qualifying purchase over $40 when approved for a credit RedCard (Valid now - 10/14/23).
- Annual fee: No annual or monthly fees.
- Key feature: 5% discount on all eligible Target purchases.
There is no way you can choose which card to apply: Target Credit Card or Target™ Mastercard® Credit Card. There is only one application form for both cards, and you can get approved for either the store-only credit card or its Mastercard version. Both Target credit cards offer 5% off Target purchases. However, you can get the same discount with the Target Debit Card. Thus, if you are not shopping at Target all the time and have a habit of carrying balances on your credit cards, you might be better off with a regular rewards credit card that offers solid rewards on all purchases.