"CreditShout is a community of personal finance experts dedicated to helping you save money and make smart financial decisions. Learn how to master your credit card rewards, improve your credit score and start eliminating your debt."
“Would you like to sign up for a (insert relevant store) credit card? You can save a zillion dollars and it will make you the king of a small nation.”
Alright, I embellished that a bit, but you get the drift. How many times have you been asked to sign up for a store credit card? The cashier is probably required to ask all customers to sign up for a card and may even get a small commission for signing you up.
Still, you may occasionally wonder whether or not the offered card is actually worth it.
The situation is no different at Marshalls, as customers may be asked to sign up for a credit card. You may want to just frown and decline the offer, but it could be a good deal.
The rewards programs for store credit cards are constantly changing and many are updated each year. What may have been a good card to sign up for last year, can quickly turn into something that is best to avoid.
So how does the Marshall’s credit card hold up? Let’s find out.
For 2013, there are two credit cards that are tailored for Marshalls customers. These are the TJX Rewards card and the TJX Rewards Platinum MasterCard. Marshalls is under the TJX umbrella, as are T.J. Maxx and HomeGoods. Thus, the mentioned cards will work at any of these retailers.
Below is a brief overview of each card and the associated rewards program.
TJX Rewards Credit Card
This card offers 10 percent off your first purchase with the card. So, if you go into Marshalls and buy $1,000 worth of socks, you’ll get $100 back. If you are buying that many socks, you may want to begin wearing shoes outside.
You’ll earn 5 points per dollar spent at Marshalls, T.J. Maxx and HomeGoods. Purchases elsewhere will not earn any rewards.
With this card, you’ll receive $10 in rewards certificates for each 1,000 points that you earn. To reach this many points, you must spend $200 at the mentioned stores. This effectively amounts to a reward of 5 percent, assuming that you are satisfied with being limited to TJX locations.
Note that this card offers 0 percent fraud liability. This means that if you lose this card on the bus and some guy decides to buy $10,000 worth of clothes with it, you should be clear of paying this back.
There is no annual fee with this card. However as seen in the screenshot above, the APR for this card is VERY high. Don’t carry a balance with this card. You’ve been warned!
TJX Rewards Platinum MasterCard
This card offers all of the same features as the standard version. Additionally, it offers the following:
1 point per dollar spent at all other locations
Usage of MasterCard ATMs
Travel accident insurance
There is also no annual fee with this card.
A Store Credit Card That’s Actually Worth It?
I usually recommend declining store card offers. Store credit cards tend to have very high interest rates and lackluster rewards.
However, it may actually be worthwhile to sign up for either TJX card. Obviously, the Platinum card is a better offer, but either card will save you 10 percent on your first offer. Also, each has an effective offer of 5 percent cash back, provided that this “Cash” is only good at TJX locations. All of this comes at no annual fee, as well.
Still, be careful. Both cards come with a very high APR, as is typical of store credit cards. So, I only recommend signing up for either card if you are certain that you will pay your balance off on time each month.
The verdict? Go for it, but be very careful not to overspend.
Credit Shout is a community of personal finance experts dedicated to helping you save money and make smart financial decisions. Learn how to master your credit card rewards, improve your credit score and start eliminating your debt.