T.J. Maxx Credit Card: Should You Get One?

The Full Guide to a T.J. Maxx Credit Card: Should You Get One?

That’s what we’ll answer today.

If you’re heading to one of the following stores (Home Goods, TJ Maxx, Sierra, or Marshalls) then this TJ Maxx credit card will serve you well.

It lets you score discounts (however minimal) – which saves you a few bucks.

Only problem is, the discount rate is low. You only get a 1% reward rate, or a dollar for every $100 spent.

And that’s not much value. That is, unless you seek a better credit card from the parent company!

T.J. Maxx Credit Cards: (Benefits & Rewards)?

TJX Companies provide TWO discount cards you can get. Those being…

• (TJX Rewards Credit Card): You can only use those at TJ Maxx and the stores they’re affiliated with. Here, you get 5 reward points per dollar spent at TJ Maxx . With each point equaling a cent, you get a 5% discount rate on purchases!
• (TJX Rewards Platinum MasterCard): You can use this wherever MasterCard is allowed. Here, you get the same amount of points as the previous credit card – giving you a 5% discount.

With each card, you can receive a minor bonuses for signing up that gives you a 10% discount. That’ll be through a coupon, which you’ll need to use within a 30 day period.

You receive rewards through certificates, which are sent automatically after your reward balance gets $10 (1000 points), or $20 (2000 points).

The certificates can then be redeemed for purchases at online or offline stores. However, note that those have a two-year expiration date.

As for the points you gain, they don’t expire!

Should You Get a TJ Maxx Credit Card?

TJX Rewards credit cards can give you a decent amount of savings at certain stores. Beyond that (and the first coupon you receive), you don’t receive much else.

The bonuses of the TJX Rewards credit card aren’t as good as those of others – which makes this a subpar loyalty program.

However, always know that you can get multiple credit cards. TJX Rewards Credit Cards actually act as a backup wallet in that case. You can use secondary TJX Rewards cards and the points stacked on them for shopping at TJ Maxx brand spots. As for other credit cards, you can use them at other stores!

However, do note that operating double TJX Reward credit cards can impact your credit score a bit. So while you do gain advantages in terms of shopping discounts, you lose in terms of loans and debts you qualify for.

Why? The reason for that is submitting two TJX Rewards credit card applications will drop your credit score average age. Plus, it also means that the amount of hard inquiries on your credit reports will go up. And when you factor both, you’ll see that this can impact your loan eligibility for the following year.

Thus, if you do plan on borrowing money (for personal or business), then be sure to set aside TJ Maxx card applications for now.

Now discounts aside, the TJX Rewards credit card has a high APR (27 %+), which makes it even worse than the majority of credit cards on the market. Plus, it heavily offsets the discount advantages you get, where the APR is higher than that of other stores’ loyalty programs.

So if you do plan on receiving this card, you should avoid using it for month to month balance carries. That is, you must always pay your bill fully!

READ:Want a Luxury Car? Here’s a List of Ones with Good Resale Value!

---

Another Issue – Fine Prints.

Both the TJX Rewards Credit Card and the TJX Platinum MasterCard have high APR rates. That’s already established.

However, there’s also a minimum interest charge of $2.00 for every bill cycle. Plus, there’s a 29.99% cash advance APR on the TJX Platinum MasterCard too!

Over all, you can see that TJX Rewards Credit Card makes the card a bad investment. And you’ll see that through many negative reviews for this TJX Rewards Credit Card, which also denounce the customer service, in addition to the massive interest rates.

Any Better Options?

Yes. For starters, if you’re seeking loyalty discounts, then we highly recommend seeking cheaper merchandise overall.

Some competitors to TJ Maxx offer 20 to 60% lower prices than their stores. They include Burlington Stores and Ross Stores Inc.

Also do note, while Ross Stores does have higher prices than TJ Maxx, you’ll find that many brands sold there are actually at a discount. So depending on the product brand you buy, you can get the items for cheap!

Another good example is Nordstrom, which offers multiple types of cards (two credit and one debit) as T.J. Maxx. So you get more variety as to what you’d like to borrow, and whether you’d like APR or not. Not to mention, they provide VISA cards too.