If you regularly make purchases in your favorite store, whether it’s a wholesale warehouse, an online retailer or large supermarket, a month can spend a tidy sum. One of the ways to offset these costs is to get a credit card from the store for which you will earn bonuses for every purchase. This writes CNBC.
Many well-known retailers such as Costco, Amazon, Target and Walmart offer their own credit cards that provide competitive bonuses and free delivery of shopping with their web sites.
If you are a frequent shopper, credit card store can be a great idea. However, you should keep in mind that the cards usually have higher interest rates, which makes it even more important to pay your bill in full every month. If properly build a strategy for the use of such cards, they will help to save money on everything from food to clothing.
Because of the many options such as Costco, Amazon, Target and Walmart — can cause problems with the map selection, which really deserves a place in your wallet.
Read compare credit cards from four major retailers to choose the best for yourself.
Visa Costco Anywhere and both cards Amazon Prime (the Visa card for a subscription to Amazon Prime and map of the Amazon Prime Store) require membership in the store. To have one of these cards, you must maintain an active membership. Annual membership at Costco costs $60 for members, Gold Star, and Amazon Prime, from $119.
Cards Amazon Rewards Visa Signature, Amazon Store, Target RedCard and Walmart do not require membership.
If you want to open a new card, but are not a member of the loyalty program of the store, you should pay attention to one of the main card Amazon, Target RedCard or Walmart.
Where you can use cards
There are two kinds of store cards: traditional cards, which can only be used within the brand (cards Amazon Store can only be used in Amazon) and co-branded cards that are supported by a large network of cards and can be used almost anywhere (signature cards Amazon Visa you can use anywhere where Visa is accepted).
Store maps include a map Amazon Prime Store card Amazon Store card and Target RedCard rewards card Walmart. These cards can only be used in store and online store Amazon, Target and Walmart, respectively.
The joint cards are the Costco Visa card Anywhere Visa signature Amazon Prime Rewards Visa card for subscription and Amazon Rewards card Capital One Rewards Walmart. All these cards can be used anywhere Visa is accepted, excluding Walmart card that you can use wherever Mastercard is accepted.
The best type of card for you depends on where you want to use it. If the answer is almost everywhere, choose co-branded cards offered by Costco, Amazon and Walmart. But if you plan to only use it in the store, then the usual card shop will fit just fine.
Costco is the only store that does not offer traditional card store, while Target allows you to apply only for a card shop (although there are cases where some cardholders are switching to the joint-branded Mastercard).
Amazon and Walmart offer the option to open either a traditional card shop, which can only be used in its stores or co-branded card which can be used anywhere, so the choice is yours.
Annual fees and special financing
All of these credit cards have no annual fee (although for cards Costco and Amazon Prime requires membership from $60 to $120 per year).
As for introductory periods of 0% APR, currently only cards Store Amazon Prime and Amazon Store offer special financing. Here are the current offers:
Pay no interest on Amazon.com for purchases of $150 or more, if the full purchase amount will be fully paid within six months
Pay no interest on Amazon.com for purchases of $600 or more, if the full purchase amount will be fully paid within 12 months.
Pay no interest on the individual purchase on Amazon.com for $800 or more, if the whole amount of the purchase is fully paid within 24 months.
After special funding ends, the interest on the loan is of 25.99%. Both cards Amazon Store charged deferred interest, which means that you will be charged for all interest accrued from the date of purchase.
Other cards do not currently offer interest-free loan and have the following APR:
The Visa card from Amazon Prime: a variable rate from 14.24% to 22.24%
Card Amazon Rewards: variable rate from 14.24% to 22.24%
RedCard from Target: 24,40%
Card Capital One Walmart: variable rate from 17.99% to 26,99%
Card rewards Walmart: 26,99%
All credit cards offered by Costco, Amazon, Target and Walmart, offer rewards. Rewards usually relate to costs for a particular brand, although some co-branded cards also offer bonuses for variety of products:
Visco card Anywhere Visa: earn 4% on purchases of gasoline for the first $7000 per year (then 1%); 3% cashback on restaurants and tours; 2% cash back on all other purchases from Costco and Costco.com.
The Visa card from Amazon Prime Rewards: get 5% back for purchases at Amazon.com and Whole Foods Market; 2% back for spending at restaurants, gas stations and drugstores; and 1% on all other purchases and receive a gift card Amazon.com $70.
Card Amazon Rewards Visa: earn 3% back for purchases at Amazon.com and Whole Foods Market;2% back for spending at restaurants, gas stations and drug stores and get a gift card Amazon.com $50.
Card Amazon Prime. Return 5% of your purchase on Amazon.com and get a gift card Amazon.com $10.
Map Amazon. Get a gift card Amazon.com $10.
Target RedCard: 5% discount at checkout on most purchases in-store and on Target.com.
Walmart Capital One Rewards Card: receive 5% back from purchases at Walmart.com, 2% back in Walmart, at gas stations Walmart and Murphy USA, at restaurants and tourist shops. The welcome bonus offer provides 5% cash back in-store purchases when you use Walmart Pay during the first 12 months after receiving the card.
Card Walmart:get 5% back from purchases at Walmart.com,2% back in Walmart, at gas stations Walmart and Murphy USA, at restaurants and tourist shops. The welcome bonus offer provides 5% cash back in-store purchases when you use Walmart Pay during the first 12 months after receiving the card.
Most cards (Amazon and Walmart) offer the same options of bonuses such as discounts on loans and gift cards, as well as the ability to use the awards at any time.
However, two cards have very different rewards than other Visa Card Anywhere Costco and Target RedCard. And Amazon Store Card — single card without bonuses.
Also provides a Target RedCard instant 5% discount on most purchases Target, which reduces your bill at checkout.
Card with the best rewards and repayment options depends on the degree of flexibility that you prefer and from where you shop. If you want to get the highest number of awards in your favorite store, just stick the card he offers. For example, if you want to get high rewards at Walmart, consider any card Walmart.
But if you shop in more than one store and want to open a map in each store, think about how work incentive programs and options for repayment.
If you are looking for a card with extensive benefits to the owner, such as travel insurance and extended warranty coverage, joint-branded cards provide the greatest number of advantages. The Costco Visa card Anywhere Visa card for subscription Amazon Prime Rewards Visa card for subscription and Amazon Rewards card Capital One Rewards Walmart provide many additional benefits.
Some card shops, in particular Target RedCard, Amazon Prime Store Card and Amazon Store Card, offer free shipping of thousands of products with no minimum order. This is compared with the conventional requirement for orders of $25 or $35 for Target and Amazon to get free shipping.
Amazon card Visa provides the best of both worlds: combines the benefits of cards, such as securing travel and shopping, plus the benefits of store cards, such as free shipping at Amazon. Any of these cards gives you the opportunity to get the maximum benefit from the shopping on Amazon and other expenditures.
Joint card from Walmart and Costco are also a great choice if you are traveling and want to use the purchase protection.
If you want to get free shipping, the Target RedCard and any card Amazon are a great choice.