There are two cards for the TJ Maxx store. One is a store card requiring fair to good credit for approval; the other is like a standard card requiring good to excellent credit. This review will focus on the TJ Maxx credit card, which allows the user to make purchases outside of the TJ Maxx family of stores.
What Are the Benefits?
The credit card is advantageous for people who shop at TJ Maxx because it offers several in-store benefits, like a 10% discount on your first online purchase or 5% back on store and affiliated brand purchases. However, beyond the pros for store use, the TJ Maxx card also offers 1% cashback on purchases made elsewhere. All of these advantages are wrapped up with a nice, no annual fee bow.
However, in reviewing the card, it is essential to point out the high APR, 26.99%. The APR is not too shocking for most store cards, but for an all-around card, it should make you pause.
Who Should Use a TJ Maxx Credit Card?
The TJ Maxx card is best for consumers who can make responsible purchasing decisions. The high APR means that you will not want to carry the balance over, so it is crucial that you only use the card for purchases you know can be paid in full before the billing cycle ends. If you choose to use the card and carry balances, you will spend a significant amount of money on accrued interest rather than your purchases.
If you wish to avoid such pitfalls, contact the credit card provider to find out about your card’s specific grace period. The grace period is the window of time before a purchase receives an interest charge.
When Should You Use a TJ Maxx Credit Card?
People tend to run into credit card problems when they view the credit limit outside of their budgets. The best advice is to limit your credit usage to only your cash spending allowance for the month. If you allow 20% of your monthly income to go toward spending, then do not use more than that for credit card purchases. If you follow that advice, then the cash you have on hand at the end of the month should cover all your credit purchases, avoiding interest fees.
Examples of Use
While shopping at TJ Maxx may not be for essentials, it is crucial that your spending is not frivolous, especially when using a credit card. Shopping for clothing or other merchandise is fine, but you should plan for it. Also, avoid spending too much at once. Use the credit card to make small and manageable purchases; that way, you avoid falling into debt.
Steps To Apply
Before you can obtain a TJ Maxx credit card, you will need to apply. The application process is straightforward:
- Find out your credit score
- Ensure you can handle the added responsibility
- Gather identification and financial necessities
- Fill out the online application
- Wait for a decision
Quick Questions
What credit score is required for approval?
According to most reports, the credit score required for a TJ Maxx store card is at least 620. However, some sites claim you have better chances with a score of 640 or better.
Does the application require a hard inquiry?
Unfortunately, the TJ Maxx store credit card does require a hard inquiry, which can lower your credit score. Therefore, be sure you have a good chance of approval before applying.
Will the card help establish a higher credit score?
As with any credit card, the TJ Maxx card can help build credit. However, you must use the card responsibly to avoid any typical pitfalls, like late payments, high-interest payments and high usage. Charging to the maximum allowance will lead to credit hits.
Would you like to find out about more store credit cards? Check out Credit Card Mash.
