TJX Rewards Platinum Mastercard Review 2023 (2024)

Applicants for a credit card with TJX are considered for two cards through Synchrony Bank. The rewards for both cards are the same for purchases at TJX Companies including T.J.Maxx, Marshalls, HomeGoods, Sierra and Homesense stores. Cardholders will earn 5% back when shopping at these retailers. But unfortunately you won’t know which you qualify for until you apply.

Customers with a lower credit score will typically be considered for the TJX Rewards® store-only card. It is not associated with Visa, Mastercard or other commonly accepted payment networks. This card can be used for purchases at T.J.Maxx, Marshalls, HomeGoods, Sierra and Homesense locations.

Customers who qualify will receive the TJX Rewards Mastercard Platinum, which can be used anywhere that Mastercard is accepted. In addition to the rewards earned at TJX stores, the cardholder will earn 1% on all other purchases. This card also offers general purchase protections from Mastercard.

• 10% off your first purchase when you open an account in-store
• Earn 5% at TJX stores
• Earn 1% on all other purchases with the TJX Reward Platinum Mastercard
• Invitations to exclusive private shopping events
• No foreign transaction fees

Earning Rewards

Earn 5% back at T.J.Maxx, Marshalls, HomeGoods, Sierra, and Homesense stores in the United States and Puerto Rico. In addition, the TJX Rewards Platinum Mastercard earns 1% on all other purchases including TJX stores located outside of the U.S. and Puerto Rico.

Rewards are accumulated as points: 5 points for each dollar spent at TJX stores and 1 point for each dollar spent at all other retailers. When you earn 1,000 points, you’ll be issued a $10 reward certificate. Certificates are sent in your monthly statement, directly to your email if enrolled in electronic statements or are downloadablefrom your online account.

Redeeming Rewards

Certificates can only be redeemed for purchases at T.J.Maxx, Marshalls, HomeGoods, Sierra and Homesense in-stores or online. Be aware rewards certificates expire two years after the issue date.

Rewards Potential

Both card versions award a $10 reward certificate for every $200 spent at a TJX store.

Forbes Advisor estimates that a household in the 70th percentile of income earns $116,000 with $36,177 in annual expenses that could reasonably be charged to a credit card. Of those expenses, $4,608 is spent on apparel, beauty, furniture and other shopping. If these purchases were made at TJX stores, you could earn $230 each year in reward certificates.

Note that reward certificates are only paid out in $10 and $20 increments. The remaining rewards will be carried over to the following billing cycle and paid out when enough additional points are earned.

TJX Rewards Platinum Mastercard holders earning 1% on the other $31,499 in purchases could earn an additional $310 each year in reward certificates. Based on these estimates the total annual rewards would be approximately $540 in reward certificates.

Related: Best Rewards Credit Cards

The TJX Rewards credit card offers no additional benefits. The TJX Rewards Platinum Mastercard has the following Mastercard benefits.

• $0 liability protection:You’re not responsible for unauthorized charges made on your card.
• Global services: Get emergency assistance anytime, anywhere and in any language. This includes reporting a lost or stolen card, obtaining an emergency card replacement or cash advance, finding an ATM and answering questions on your account.
• ID theft protection: You can opt in to this service that monitors your credit file for changes that could indicate fraud, sends you emergency alerts and can assign you a resolution specialist if fraud is detected.

Interest Rates

• APR on purchases: 31.99% variable
• Intro APR: N/A

Fees

• Annual fee: $0
• Balance transfer fee: N/A
• Foreign purchase transaction fee: None

TJX Rewards® Platinum Mastercard®* vs. Capital One® Walmart Rewards® Card*

The Capital One Walmart Rewards Card earns 5% back at Walmart.com and with the Walmart app grocery pick up and delivery, 2% on in-store Walmart purchases including Walmart & Murphy USA fuel stations, 2% on restaurants and travel plus 1% back on all other purchases. If you don’t qualify for the Mastercard, you’ll be considered for the store card version.

Rewards can be redeemed for statement credit, gift cards or travel. This card also offers a welcome bonus of 5% back for Walmart in-store purchases when you use Walmart Pay during the first 12 months.

TJX Rewards® Platinum Mastercard®* vs. Capital One QuicksilverOne Cash Rewards Credit Card

Available to those with fair credit, the QuicksilverOne credit card offers 1.5% back on every purchase. While this card has a $39 annual fee, it offers more flexibility for redeeming rewards. You can redeem your cash back at any time and in any amount. Also your rewards never expire as long as your account is open, unlike the two-year expiration window on the TJX Rewards.

Based on the household spending above, if all purchases were charged to the QuicksilverOne card you could earn $541.60 in cash back each year. This card also offers travel accident insurance, auto rental collision damage waiver and no foreign transaction fees. If you plan to charge flights and rental cars on this card, it is a wise option to consider.

TJX Rewards® Platinum Mastercard®* vs. Discover it® Secured Credit Card

If you were considering the TJX Rewards credit card to build your credit, you may want to consider a secured card like theDiscover it® Secured Credit Card. With a secured card, you pay a deposit equal to your credit line. With the Discover it® Secured Credit Card, you can put down a minimum of $200, up to a maximum of $2,500 if approved.

Although an initial deposit may seem steep, there are no annual fees with this card. Your account is also evaluated after seven months to determine whether you are eligible to graduate to an unsecured card and have your deposit refunded.

You’ll also earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases. Discover will also match all the cash back rewards you earn at the end of your first year as a bonus.

While the initial out-of-pocket cost for a secured card is higher, it could afford you a greater diversity of buying power than the TJX Rewards credit card.

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors including:

• Annual fees
• Welcome bonus offers
• Ongoing earning rates
• Value of individual points or miles
• Included travel or merchant credits
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.

Read more: How Forbes Advisor Rates Credit Cards