4 Crucial things to know about the T.J. Maxx Credit Card

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The TJX Rewards® Platinum Mastercard®, issued by Synchrony Bank, is a credit card that can be a valuable choice for shoppers who regularly seek deals at T.J. Maxx and its affiliated stores.

Unlike most general credit cards, this one offers bonus rewards on purchases made at discount outlets like T.J. Maxx. Even though it doesn’t have an annual fee, it can be used wherever Mastercard is accepted. However, if you don’t often shop at TJX stores, it may not be the best fit for your spending habits.

Note: There is a “store-only” T.J.Maxx card, which has similar benefits but can only be used at T.J. Maxx and its affiliated stores. This article, however, focuses exclusively on the “open-loop” TJX Rewards® Platinum Mastercard®. This version of the card is more versatile because it can be used anywhere that accepts Mastercard as a form of payment.

T.J. Maxx loyalists can earn rewards

T.J. Maxx loyalists can earn rewards with the TJX Rewards® Platinum Mastercard®. When you use this card:

  • You get 5 points for every $1 you spend at stores like T.J. Maxx, Marshalls, HomeGoods, Sierra Trading Post, and Homesense.
  • For all other purchases, you earn 1 point for every $1 spent.

Once you collect 1,000 points, they are worth $10. The only way to use these points is to get a $10 reward certificate, which can be used for in-store or online purchases at the mentioned retailers. You can get certificates in either $10 or $20 denominations. So, if you shop at T.J. Maxx frequently, you can accumulate points and save on your future purchases.

It’s not ideal for everyday purchases

The TJX Rewards® Platinum Mastercard® is not the best choice for everyday spending because it only gives you 1 point per $1 spent on things like groceries, gas, and restaurant meals. Additionally, the rewards you earn can only be used within the T.J. Maxx family of brands.

If you want more flexibility in earning and using rewards, consider a cash-back credit card like the Wells Fargo Active Cash® Card. With this card, you get 2% cash back on all your purchases, which can accumulate faster.

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You can redeem your cash back as a deposit into your bank account, as a statement credit, or as a check that you can use however you like. Plus, this card has no annual fee.

You also have the option to use both cards – the TJX Rewards® Platinum Mastercard® for T.J. Maxx purchases and the Wells Fargo Active Cash® Card for everything else.

You may get first dibs on merchandise

When you have the TJX Rewards® Platinum Mastercard®, you get the advantage of being among the first to see and buy merchandise during exclusive shopping events, both in-store and online.

This means you can look through the items before regular customers can. Sometimes, at these events, you might also receive extra benefits like special treats or the chance to win prizes.

You won’t want to carry a balance

“You won’t want to carry a balance” means you should avoid leaving unpaid debt on your credit card. This particular card doesn’t offer an initial period with low interest rates (introductory APR), so if you plan to use it for significant expenses like buying work clothes or furniture, it’s advisable to consider a different card.

The ongoing APR (annual percentage rate) for this card is 32.24% and it can eat into any rewards you may earn. To maximize your benefits, it’s best to make sure you pay off your credit card balance in full and on time each month.

If you anticipate needing more time to pay off a substantial purchase while avoiding high interest charges, you might be better off with a different type of rewards card that offers an introductory 0% APR period, which means you won’t accrue interest during that period.

There’s an upfront incentive, but it won’t fund a shopping spree

The TJX Rewards Platinum Mastercard gives you a 10% discount on your first purchase, whether it’s online or in a physical store. This discount can help you save money on a significant purchase. However, a general rewards credit card may offer better initial perks.

The bottom line

In this article, we’ve outlined the 5 things to know about the TJX Rewards Platinum Mastercard, which is a good choice if you often shop at T.J. Maxx and related stores. However, if you don’t shop there frequently, there may be better credit card options available that offer more rewards and flexibility.