There are a myriad of store credit cards competing for your attention, but the question is: which ones are really worth it? When choosing your store credit cards, keep in mind that the true test of whether they’re worth it is to ask yourself how often you shop there. The general rule is, if you are doing a large chunk of your purchases through a retailer, the perks of that retailer’s credit card are going to carry a much greater value for you.
That being said, check out our handy guide and start saving more while you shop.
The Target Red Card
If you tend to do most of your everyday shopping (clothing, food, home stuff) at Target, then you’ll want to check out the Target Red Card. You’ll be saving on your purchases upfront; 5% off every day to be exact. If you’re doing regular shopping at Target, the Red Card could easily save you hundreds on an annual basis. Cardmembers also enjoy free shipping and are granted extended periods of time for returns.
Amazon Prime Visa
If you are already an active Amazon Prime member (which carries with it a $99 annual fee), then the Amazon Prime Visa is for you. The perks are robust, and the savings are real.
As a card member, you’ll enjoy rewards like free shipping as well as 5% cash back on Amazon purchases. Again, if you already shop regularly on Amazon, these rewards can really add up quickly. The rewards are not just limited to Amazon; you’ll also receive 2% cash back at restaurants, drugstores, and gas stations, as well as 1% cash back on all other purchases. And, there’s no annual fee.
If you’re already a Prime member, you’d be smart to hop on this card, and start raking in those savings!
For Your Wardrobe: The Gap Inc. Visa Card
One of the perks of this card is that it carries with its rewards for not just the Gap and Gap Factory Outlets, but other Gap-owned properties as well (Athleta, Old Navy, and Banana Republic). When you shop at the Gap and Gap Factory Outlets, you’ll earn 5 points for every dollar you spend, and at other Gap-owned retailers, you’ll earn one point for every dollar spent. And, every time you do, you’ll also save 10% - every time. There’s no annual fee, and since this card is also a Visa, you’ll be eligible to earn additional rewards anywhere. No receipt? No problem! Cardmembers have the ease of returning items without receipts.
This card does come with a hefty interest rate, so you’ll need to factor that in when making your decision whether to sign up. But, as long as you pay down your balance in full and on time, your savings will be significant.
Bulk and Wholesale Shoppers: The Costco Visa
If you’re already a member and frequent shopper at Costco, you’ll want to check out the Costco Visa. The cash back rewards are definitely an incentive, which includes up to $7k annually and gas purchases. And you’re not limited to Costco, where you’ll earn 2% cash back on your purchases. You can also rack up 3% cash back on restaurants and travel, and 1% cash back on all other purchases. Plus, it’s a Visa, so you can use it virtually anywhere.
Keep in mind that with most store credit cards, the interest rates are high. So be sure to pay your balance in full and on time, so that you can really maximize your savings. Happy Shopping (and Saving)!