![]() ![]() If you’d rather get a card that can earn you rewards everywhere you spend money, a general cash back credit card might be a better option. The RedCard’s obvious potential drawback is the fact that it’s a closed-loop card. Plus, no other card offers such high savings potential for Target purchases on an ongoing basis. It’s incredibly low-maintenance and doesn’t require any strategy to maximize, like some popular rewards credit cards do. The Target RedCard can be perfect for you if you do most of your shopping at Target. You may want to read the card’s terms and conditions to make sure it fits your specific spending habits. It also doesn’t apply to Target Optical eye exams, certain gift cards, gift wrapping services and more. For example, you won’t be able to use it on clinic services, prescriptions and over-the-counter items located behind the counter at Target pharmacy. It’s also a good idea to keep in mind what the 5% discount doesn’t apply to. ![]() An additional 30 days for returns and exchanges.Access to targeted offers and promotions. ![]() Here’s what the Target RedCard offers besides the 5% discount: But in addition to that, it’s helpful to consider other card details and benefits as you’re choosing a new credit card to add to your wallet. Card details you might missĪt Buy Side from WSJ, we judge store credit cards based on the rewards and discounts they offer. Still the card’s generous discounts for fans of Target are why we included it in our round up of the Best Store Credit Cards. If you want to save on your non-Target shopping too, an open-loop credit card that you can use anywhere might be a better choice. This means that you can only use it for Target purchases. It’s important to note that the RedCard is a closed-loop credit card. By contrast, the best general purpose cash back cards typically offer 2% cash back on purchases. The Target RedCard’s rewards structure is unusual in that most credit cards offer your cash-back rewards or points, rather than upfront discounts. Checkout Don't Waste Your Money for product reviews and other great ideas to save and make money. This story originally appeared on Don't Waste Your Money. This shopping season is a great time to open a reloadable Target RedCard account, so get to it! You’ll have to choose which card works best for your needs. ![]() You also will not earn 2% on dining and gas purchases or 1% everywhere else outside of Target, as you would with the credit card. This includes the ability to pay for your Target purchases directly from your existing checking account, which you get with the RedCard debit card. 8, 2023, and will come in the mail, and exclusions apply.Ī few features are missing from the reloadable version of the card that the other RedCards have. 10, you can also get a coupon for $40 off a purchase of $40 or more, which should give you a pretty good start on holiday shopping. If you open a reloadable card before Dec. It gives you free two-day shipping on most items from, an additional 30 days for returns and exchanges, and other special items and offers. Once completed, you’ll be an official Target RedCard holder and can begin saving money and getting other benefits.Īlong with the 5% savings in the store, at Starbucks locations inside Target and on specialty gift cards, the Reloadable Target RedCard has no annual or monthly fees. You must be 18 years old or older and will need to provide your social security number to verify your identity. To sign up, simply head to Target’s website. That means it essentially acts as a debit card itself, with no bill to pay later. The reloadable card lets you add money to the card at Target, but you can spend it anywhere that takes Visa debit cards. The new Target RedCard Reloadable Account still saves you 5% on your purchases, just like the standard RedCard, but you can sign up without a credit check or bank account. If you’re a Target shopper, you’ve likely heard about the benefits of getting the RedCard - but now, there’s a brand-new version that is even easier to sign up for. ![]()
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