The
Target Mastercard is a good credit card for frequent Target shoppers who have
excellent credit (
750+ credit score). It will be especially worthwhile if dining and gas are also among your biggest spending categories, as you can earn bonus rewards on those purchases, too. In addition, you need to pay the bill in full every month to avoid interest charges.
The
Mastercard version of the Target credit card has all the same features as the
Target-only version for people with fair credit or better, including a
$0 annual fee,
5% back at Target, extended returns and free 2-day shipping on lots of items. The difference is you can use the
Mastercard version anywhere, and you’ll earn 1% - 2% back on purchases that don’t involve Target.
What I Like About the Target Mastercard
5% Back at Target
If you shop at Target often, saving
5% on every purchase will add up to a lot over time. You’re not going to find a higher Target rewards rate from unaffiliated cards, so this feature should be reason enough to apply if you’re a loyal Target customer.
2% Back on Dining & Gas
This is about twice what the average rewards card will give you, so it’s very good. It’s not an elite earning rate, however, as you could get 5% back with some of the best cards for
dining and
gas.
Can Be Used Anywhere Mastercard Is Accepted
You will earn 1% back on purchases that don’t qualify for dining, gas or Target rewards. That rewards rate is standard, not spectacular, but it’s nice to have the freedom to use your card anywhere. If you want to put all your rewards toward future Target purchases, making this your everyday credit card could work.
$0 Annual Fee
Owning the
Target Mastercard doesn’t cost you a cent. That’s on par with other store-affiliated credit cards, but it’s still
$29.67 below what the average credit card offer will run you each year.
Free Shipping & Extended Returns
Just like the Target store credit card, the
Target Mastercard can get you free 2-day shipping and 30 extra days to make returns. Those features could save you a lot of money and hassle. Plus, cardholders may be eligible for additional perks throughout the year.
What I Don’t Like About the Target Mastercard
Modest Initial Bonus
When you get approved for this card, that unlocks a new-cardholder discount offer: $50 off a Target purchase of $50+ within the first 60 days. That can be a great deal in percentage terms, but it’s not any better than you’d get with the store card and doesn’t come anywhere close to the
best bonus offers on the market in terms of dollars saved.
28.20% (V) APR
This dwarfs the average APR among credit cards for people with excellent credit, which is
17.09%, according to our latest
Credit Card Landscape Report. Given how high the
Target Mastercard’s APR is, carrying a balance from month to month would be a mistake. You can avoid interest charges by paying your balance in full each month.
Excellent Credit Needed for Approval
We recommend applying for a credit card that requires
excellent credit if you have a credit score of
750 or higher. If you’re not sure where that leaves you with respect to the
Target Mastercard, you can
check your credit score for free right here on WalletHub.
If you’re not sure which credit card to get, you can find some more options among our editors’ picks for the
best credit cards for shopping. You can also see
how the Target Circle Card and the Target Credit Card compare to determine if it’s worth applying. If you do apply for a Target card, you’ll be considered for the Mastercard first, then evaluated for the store card if you don’t qualify for the Mastercard version. You don’t get to pick.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
