If you shop often, you may have already heard about TJ Maxx credit cards.
There are two cards in the company’s portfolio — TJX Rewards® Platinum Mastercard®, which can be used wherever you want, and the TJX Rewards® Credit Card that you can use in-store.
The TJX Rewards® Credit Card comes with lots of benefits and features, and it’s one of the most rewarding cashback credit cards on the market.
Features of this Card
The TJX Rewards® Credit Card gives you five points for every dollar that you spend in stores like TJ Maxx, Sierra Trading Post, Marshall’s, and HomeGoods. These stores can be found across the USA, as well as in Puerto Rico.
Besides that, you can use this credit card in any store that accepts MasterCard.
When you reach 1,000 points, you can redeem them for a $10 voucher that’s usable in the stores mentioned above. However, you cannot redeem the points for cash, which makes this card different from a cashback card.
Also, keep in mind that the $10 certificate expires two years after issuance, so you should use it shortly after you have redeemed the points.
Similar to other bonus credit cards, TJX Rewards® Credit Card also offers you a special discount on your first purchase. Whether online or in-store, you will get a 10% discount. However, that’s lower than what other cards offer. The best cards on the market offer a 20% discount on the first purchase.
Via TJX Rewards Certificates, both the TJX Rewards® Platinum Mastercard® and TJX Rewards® Credit Card give you back 5% on the purchases that you make in any TJX store. That rate is similar to those offered by the best cashback credit cards on the market.
Even though the card has the TJ Maxx name on it, it’s not exclusive for TJX brands. You can also earn rewards when purchasing from other stores across the USA and Puerto Rico, such as, HomeGoods, Sierra, and Homesense.
TJ Maxx credit cards come with the most straightforward redemption process on the market. We’re talking about automatic reward redemption. Once you have reached the minimum amount of points, which is 1,000, you will receive your $10 certificate in the mail. TJ Maxx sends vouchers in fixed amounts of $10 and $20.
Both the TJX Rewards® Platinum Mastercard® and TJX Rewards® Credit Card come with no annual fees. This is one of the most significant advantages offered by the TJ Maxx credit cards.
Eligibility and How To Apply
One major downside is that you can’t choose which TJ Maxx credit card to apply for, since there is only one application form for both of the afore-mentioned cards. The company decides which credit card you’re eligible for, if any, depending mostly on your credit score.
However, that’s not as good as it sounds. For example, if you get the TJX Rewards® Credit Card instead of the high-end TJX Rewards® Platinum Mastercard®, you’ve done nothing else than adding just another credit line to your history.
To get approval, you must have an acceptable credit score of at least 620. A score of 670 or above might get you the desired TJX Rewards® Platinum Mastercard®. Either way, the higher your credit score, the higher the chances that you will be approved for one of the two cards.
Your income, debts, and other factors are also essential to get you approved for either of the two TJ Maxx credit cards. You can apply online on the TJ Maxx website or offline by visiting their store.
Fees and Interest
The TJX Rewards® Credit Card is an expensive credit card, even though it comes with no annual fees. Its APR is 27.24%. That’s 10% higher than the regular annual percentage rate charged by other similar cards out there.
Our recommendation is not to hold a balance on any of the TJ Maxx cards, since the interest that will be deducted would be significantly high.
In conclusion, the TJX Rewards® Credit Card and TJX Rewards® Platinum Mastercard® are only useful for people who regularly buy from TJX stores. To be safe, be sure to pay your balance in full and on time.
Do not carry a balance on your card because the huge APR will most likely affect you. If you’re not a frequent buyer of TJX products, then you should consider opting for another credit card.
Note: There are risks involved when applying for and using credit cards. Consult the institution’s terms and conditions page for more information.