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Is Target REDcard Worth It?

By , August 28th, 2017 | No Comments

Target REDcard
In 2016, Target made nearly $7 billion from its millions of loyal customers. As you may have experienced yourself, Target has some great deals to offer on some pretty unique items. That being said, if you are a frequent Target shopper you may want some sort of rewards program. While Target doesn’t have a rewards program like your grocer may, you can receive rewards if you sign up for a Target REDcard.

What is Target REDcard?

Target REDcard is essentially a Target credit card. Like other credit cards, you can earn rewards and even get money off purchases on certain items or at certain locations. The Target website highlights the following as REDcard perks: 5% off your purchase at Target and target.com when you use your REDcard, free shipping on most items at target.com and extended returns (an extra 30 days on their regular return policy).

Don’t want to open a new line of credit to save more at Target? No worries. You can also open a Target REDcard debit card as well. All you need to do is have an opening deposit. Then simply use the debit card like you would any other Target REDcard and reap the benefits!

Is Target REDcard Worth It?

Target REDcard does help people save money at Target but is it really worth it? The immediate answer would be: If you shop at Target frequently, yes.

The REDcard offers a ton of great deals and additional perks for cardholders so, if you are regular Target shopper, it could actually end up saving you a bit of money! What are the other benefits and possible pitfalls of the Target REDcard?

Pros of Target REDcard

As stated above, you get perks like 5% every purchase, free shipping and extended returns but what else does the Target REDcard have to offer? Here are some of the biggest perks of the retail credit card:

  • Easily accessible. Once you’ve started your REDcard account you can easily access all your information and pay your bill online.
  • Get an additional 5% off your Cartwheel purchases. Target Cartwheel is the company’s mobile app which helps people save anywhere from 5 to 5 percent. If you use your REDcard for the purchase, you’ll get an additional 5% off.
  • Get 5% off Target Subscriptions for a total of 10% off when using your Target REDcard.
  • You also get 5% off your Starbucks order when you use your REDcard (as long as the Starbucks location is within a Target).
  • Stack the REDcard savings with other savings (including coupons). You can use coupons and still redeem your 5% off by using your Target REDcard at checkout.
  • REDcard cardholders are also given early access to some items. This varies from location-to-location and can change depending on what you shop for at Target.
  • There are also REDcard exclusive extras. These are simply extra items and gifts available for REDcard users as a way of Target saying “thank you” to their loyal customers.

Cons of Target REDcard

There are some restrictions to the benefits of the REDcard. Here are just a few cons of the Target REDcard:

  • Not all purchases are eligible for your REDcard 5% off (which is the main reason most people get the card to begin with). Purchases excluded from the 5% discount include prescriptions, eye exams, gift cards/prepaid cards, previous purchases, certain restaurants within Target stores, Target credit account payments, gift wrapping on target.com, wireless protection programs or any other place ti would be prohibited by law.
  • You will also not be able to benefit from the extended return policy for everything either. For instance, mobile purchases and purchases with a fixed return date are not eligible for extended return. Additionally, you will not be able to return non-returnable items (food, opened toiletries, etc.).
  • Another con is that most REDcard holders wind up paying around 19.65% to 23.90% APR on their Target REDcard. If you have an account balance where interest has been charged they also charge you a minimum interest charge of $1.00. However, if you pay the entire balance by the due date you will incur no interest charges.

Should You Get The Target REDcard?

All in all, the Target REDcard is just another credit card that you have to decide whether it is good for you or not. If you’ll be paying 19.65% to 23.90% interest each month, the 5% savings likely isn’t worth it unless you shop at Target frequently. If you’re able to pay your balance in full each month, however, you could really save a ton of money by shopping with your REDcard.

Want more information? Check out this great video outlining the Target REDcard:

Planning a Target trip soon? You may find these articles helpful: 

Photo: iSpot.tv

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