If you shop regularly at budget retailers like TJ Maxx, Marshalls, HomeSense, Sierra, or HomeGoods, you can reliably earn a substantial amount of cash back just by using the co-branded TJX Rewards Platinum Mastercard.
Synchrony Bank issues TJX Rewards Mastercard. However, the TJX Rewards Platinum Mastercard, unlike some co-branded store cards, doesn’t offer much flexibility when it comes to redeeming your points.
Only to buy additional merchandise from a TJX-affiliated store can you use it.
What is TJX Rewards Platinum Mastercard
The TJX Rewards Platinum Mastercard, issued by Synchrony Bank, can be a worthy sidekick for the deal-savvy shopper who hunts bargains at T.J. Maxx and its affiliated stores.
Typically, general credit cards don’t earn bonus rewards on purchases at discount outlets, so for T.J. Maxx loyalists who are already getting a marked-down price, this $0 annual fee card is extra valuable.
It can be used anywhere Mastercard is accepted, but if you don’t frequently shop under the TJX brand umbrella, you’ll rack up rewards slowly and may find redemption limiting.
Pros of TJX Rewards Platinum Mastercard
Here are some key positives about TJX reward platinum MasterCard you should consider.
- Generous rewards-earning rate on TJX purchases: Depending on how much you spend each year, you could save quite a bit with this store credit card. For example, the average family spends around $1,800 a year on clothing, according to the Bureau of Labor Statistics. If you use your TJX Rewards Platinum Mastercard to buy that much clothing from a TJX store, the 5% back in rewards would translate to $90.
- Rewards redeemable at a variety of TJX stores: Together, the TJX family of stores sells everything from clothing and accessories to beauty products, toys, furniture, home decor, bath and bedding, kitchenware, pet supplies, outdoor gear, and more.
Cons of TJX Rewards Platinum Mastercard
Also, factor in these flashpoints about TJX reward platinum MasterCard. It will help you make a better decision.
- Low rewards-earning rate on non-TJX purchases: Unless you’re only interested in using your rewards to purchase more merchandise, you’re better off getting a card with a higher rewards rate on non-TJX purchases.
- Rewards redeemable only for TJX merchandise: The TJX card is more restrictive than some competitors. For example, some co-branded store cards allow cardholders to redeem their rewards for cash back, gift cards, travel, or other rewards purchases.
- High ongoing interest rate: You could get stuck with a ton of debt if you carry a balance on this card. Even for a store card, the interest rate on the TJX Mastercard is steep. What’s more, unlike some store cards, the TJX Mastercard doesn’t offer a lower introductory interest rate.
Store credit cards don’t typically offer great bonuses—if they offer a bonus at all.
However, the bonus on the TJX Mastercard is especially puny, which means you’ll get just 10% off an online or in-store purchase if you apply for the card on a desktop or tablet, or 10% off an in-store-only purchase if you apply for the card through your mobile phone.
Even if you buy a lot, that discount won’t get you very far. For example, if you buy a $600 kayak from Sierra, you’ll only get $60 taken off the purchase price. If you buy $100 worth of clothing, you’ll get $10 off your purchase.
Earning Points & Rewards
If you’re using your card to buy merchandise from a TJX-affiliated store, the rewards rate on the TJX Mastercard is great.
Only a handful of store credit cards offer a comparable 5% rewards rate and the merchandise you can buy with those cards is often limited.
The TJX Platinum Mastercard is also one of the only store credit cards that offers bonus points at a wide variety of stores.
With so many earning opportunities, you could save quite a bit of cash. For example, if you spent $1,000 on clothing, $2,000 on furniture and home goods, and $500 on sporting goods, you’d earn $175 worth of rewards.
However, the 1% rewards rate on non-TJX purchases isn’t as exciting. Some competitors, by contrast, offer bonus points on a wider variety of purchases, such as gas, dining, or travel.
Unlike some competitors, the TJX Mastercard doesn’t give you much choice in how to redeem your rewards.
After you accumulate at least 1,000 reward points, you’ll be issued a rewards certificate along with your billing statement. (They are issued in $10 or $20 denominations, depending on your points total.)
If you don’t earn the 1,000 points until after Synchrony Bank sends you your bill, you’ll have to wait until the next month’s bill to receive your rewards.
You can use your rewards in-store or online at any TJX-affiliated store in the U.S. or Puerto Rico. However, you can’t use your rewards to buy store gift cards. However, Don’t wait too long to redeem your rewards: Certificates expire after two years.
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How to Get the Most Out of TJX Rewards Platinum Mastercard
Use the card for all of your TJX-affiliated store purchases to earn the 5% cash back. Keep an eye out for sales at your favorite stores once you’ve accumulated some rewards.
That way, you can stretch your points even further by using them to buy goods at a discount. In addition, consider pairing this card with another rewards card that offers higher earnings on stuff you buy outside of TJX stores.
The TJX Rewards Platinum Mastercard’s Other Features
Like most store cards, the TJX Rewards Platinum Mastercard doesn’t offer many extra perks. However, it does give you access to occasional private shopping events.
You’ll also receive cardholder perks through Mastercard. Cardholders with good credit may be issued a World Mastercard, which offers more benefits than the standard Mastercard.
When you get your new card, you’ll also get a guide explaining your benefits. The guide will be accessible via your account page on Synchrony’s website, too.
The TJX Rewards Platinum Mastercard’s issuer, Synchrony Bank, ranks near the bottom in J.D. Power’s 2019 credit card satisfaction survey, coming in 10th overall out of 11 credit card issuers and scoring 780 out of 1,000 points (industry average was 806).
However, you can contact Synchrony Bank via secure email or by using an online chat feature on the website.
Synchrony Bank provides basic security such as encrypted online access to your account, and account monitoring to detect fraudulent charges, but does not offer the full suite of security and identity protection tools that many of the large issuers do.
Highlights of TJX Rewards Platinum Mastercard
The TJX Rewards Platinum Mastercard’s fees aren’t unusual for a store credit card. However, avoid cash advances since the card’s high cash advance fee ($10 or 4% of the amount) and 29.99% cash advance interest rate can add up quickly.
With TJX Rewards Platinum Mastercard, you stand the chance to:
- Earn 5X points per dollar spent at T.J. Maxx, Marshalls, HomeGoods, and Sierra Trading Post
- Earn 1X point per dollar spent on all purchases
- Get 10% off your first purchase in-store
- Be the first to hear when fresh finds arrive through your email
- Secure an unlimited amount of rewards you can earn
- Get $10 rewards certificate: redeem 1,000 points for a $10 rewards certificate
- Avoid annual or foreign transaction fees
Key Things to Know about TJX Rewards Card’s Fees
Keep these TJX Rewards card’s fees revelations in mind.
1. T.J. Maxx loyalists can rake in rewards
The TJX Rewards Platinum Mastercard offers a high in-brand rewards rate whether you’re shopping off the rack or on the web:
- 5 points per $1 spent at stores in the TJX family (T.J. Maxx, Marshalls, HomeGoods, Sierra Trading Post, and Homesense).
- 1 point per $1 on all other purchases.
Points are worth a penny each, but there’s only one redemption option: For every 1,000 points earned, you’ll get a $10 reward certificate to spend on purchases in-store or online at the above retailers.
(Certificates can be issued in either $10 or $20 denominations.) If you shop at T.J. Maxx at every opportunity, for all occasions — back to school, birthdays, holidays, and such — you can score some serious points.
2. It’s not ideal for everyday purchases
Of course, you can’t buy everything at T.J. Maxx. Your everyday spending on things like groceries, gas, and restaurant meals will earn a paltry 1 point per $1, and you’ll be locked into using those rewards in only one place: within the T.J. Maxx family of brands.
If you’re looking for more flexible earning and redemption options, a cash-back credit card will work better for you.
3. There’s an upfront incentive, but it won’t fund a shopping spree
The TJX Rewards Platinum Mastercard shaves 10% off your first purchase online or in-store. That can make a decent dent in a big purchase, but a general rewards credit card may offer more valuable introductory incentives.
4. You may get first dibs on merchandise …
The TJX Rewards Platinum Mastercard snags you invites to exclusive shopping events in-store and online.
You can also sign up to receive “arrival alerts” via text message or email so that you’re the first to know about new merchandise at your local TJX family stores.
5. You won’t want to carry a balance
There’s no introductory APR period with this card, so if you need to finance a new wardrobe for work or some furniture for a remodel, you should probably look elsewhere.
The ongoing APR is 29.24% Variable. Carrying a balance will chip away at any rewards you earn, so it’s best to pay your balance on time and in full every month.
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The Bottom Line
Those cards will help you save T.J.Maxx and the listed affiliates a decent amount of money (5 percent), and you’ll also get some nice shopping benefits.
The strong 26.99 percent APRs, however, make these cards a little risky when it comes to spinning a balance.
To avoid incurring the interest charge, you’ll want to pay off your balance every month, which will quickly make that 5 percent discount seem quite worthless.