I was reading a post over at the Digerati Life about Retail Credit Cards being bad, and for many reasons, they are more challenging than normal cards. They usually carry a much higher interest rate, they don’t always offer great rewards, and some retailers use poor practices to get people to sign up for these cards.
However, I was surprisingly pleased when I saw that Target announced that this fall, they will begin offering users of their store card, the Target RedCard, 5% off on all purchases made using the card. This is a huge improvement over their current promotion, which only offers a 10% off coupon when first opening an account, and then only again after accruing 1,000 points (usually about $1,000 worth of spending). They also offer targeted coupons for their users!
This is the first card in retail that I have seen offer this program, and maybe others will follow them soon. Check out the entire press release here.
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This post was written by...
Robert – who has written 317 posts on The College Investor.
Robert is the founder and editor of The College Investor, a personal finance site dedicated to young adult and college student finances. You can learn more about him here and connect with him on Twitter or Facebook.
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