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Target’s REDCard: Should I Get One?

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Target RedCard credit card

Target has more than 1,800 locations in the U.S. alone, and their trendy collaborations with designers like Kenzo and Isaac Mizrahi always seem to hit the right price point. Perhaps that’s why the chain offers its own rewards credit card, the Target REDcard, issued by TD Bank. In fact, two versions of the card are available to customers: a debit card (which functions differently than a store credit card) and a credit card, although we’ll focus on the latter for this review. The Target MasterCard is no longer soliciting applications, according to a Target representative. Let’s take a closer look at the Target REDcard.

How to Pick a Target REDCard

Before you apply for a credit card, it’s good practice to do some homework. Try to get a sense of what type of credit cards are out there, and review your credit scores to make sure you qualify. (You can view two of your credit scores for free on Credit.com.) It’s also wise to consider your overall financial picture and how you like to shop.

Beyond that, it’s a good idea to look at the different types of cards out there. Secured credit cards, which require a cash deposit that acts as your credit line, are usually best for those who are trying to build or rebuild their credit. However, if your credit is good, a rewards card may be the better option. If you’re not much of a spender but travel frequently, plenty of travel credit cards may suit your needs. If you don’t travel often but want still want to earn rewards, a cash back credit card is worth looking into, as these reward members for everyday spending on things like groceries, gas and retail.

Store credit cards, like the Target REDcard, are best for customers who are loyal to a particular brand. Just remember, when using these cards be careful not to lose your rewards to high interest or accrue too much debt, as these cards often carry high annual percentage rates (APRs), which can add to the debt load. The best course of action is to pay your balance off in full each month.

What Is the Target REDcard?

Target REDcard

Here’s some of what the Target REDcard has to offer. (Be sure to check the card agreement for full details.)

Card Highlights: Members receive free shipping on most Target.com orders, plus 30 extra days for returns. Those returns don’t apply to mobile purchases, products with a fixed return date or non-returnable items. Do note this card may only be used at Target stores in the U.S. and on Target.com.

Rewards Details: Members receive 5% off eligible purchases, excluding Target gift cards, prescriptions, over-the-counter items and certain food court restaurants.

Annual Fee: None

APR: Variable 23.90%

With its high APR and late payment fee (up to $38), this is not the type of card to take lightly. Shoppers will need to think through their purchases and do their best to make the monthly payments on time and consistently. If you’re loyal to Target, this card can be a helpful tool, as you can earn serious rewards just by shopping as you normally would. That 5% discount can quickly add up, and everyone loves free shipping.

That said, if you want the flexibility of being able to shop where you like, this card is not the right one for you. Other cash back cards, like the Chase Freedom Unlimited (see full review here), which offers 1.5% cash back everywhere, may give you the cash back rewards you’re looking for without requiring you to stick with one store.

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.


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