I’m not a big proponent of store credit cards. In fact, until last year I only had two in my lifetime, and both were obtained when I was younger and have since been closed. That being said, I think signing up for a Target REDcard is a great idea IF 1) you shop there often and 2) you can trust yourself not to go over your budgeted amount and 3) you pay off the card in full every month. If #1 applies but #2 and #3 do not, you can also consider getting the debit version of the card. In either case you get 5% off every purchase every day, 30 extra days for returns, and free shipping if you order from Target.com.
Considering the fact that our local Super Target is where we purchase a good 80% of our groceries, not to mention all sorts of other stuff, it was a no-brainer to sign up. In fact the only thing I regret is not doing it sooner. Last year we saved nearly $200 using the card and shopping like we normally would. The only difference now is that if I’m comparing prices between stores I have to remember to factor in the 5% discount.
As an added bonus, once you’re signed up you can log into your account online and choose a school to which Target will donate 1% of all your purchases. If you’re interested in learning more, visit Target’s REDcard rewards and benefits page.
Note: I am in no way affiliated with Target other than the fact that I love shopping there.