The following tip is best suited for Target shoppers...
Normally, I'd tell you to avoid in-store credit cards like those offered by Macy's, Home Depot, Brooks Brothers, etc. unless they're offering an enticement valued at least $400 (e,g,, 20% off a $2,000 purchase). The reason for this advice is that each one of those credit applications involves a hard pull of your credit, which will lower your credit score. You want to save those hard pulls for when they're needed or most valuable, such as when refinancing a mortgage, getting a new car loan, or taking advantage of a top shelf credit card sign-up offer.
So, why am I telling you to get a Target REDcard debit card? Because it's a DEBIT card, not a credit card. Applying for the debit card version of the REDcard does not involve a hard credit pull like the credit card version, but it offers the same benefits, namely 5% off most Target purchases and free shipping from Target.com.
|Target Debit Card: All the Benefits of the Credit Version
Since you already learned to maximize reward credit cards, you'll use your new REDcard debit card for all of your in-store and online purchases at Target. At checkout, you'll see an immediate 5% reduction of your total cost, so the savings are instantaneous.
Furthermore, when shopping at Target.com, you should use a cash back portal to stretch your value even further. Both Mr Rebates and Ebates currently offer 4% cash back, so combining your REDcard with a cash back portal will stretch your savings by 9%!
|Fancy Graphic: Tip Wouldn't Be Complete Without It