The best credit cards for shopping

If you tend to spend at one particular place more than anywhere else, a store-branded credit card could benefit you more than a general-purpose card might. Even with so-so credit, you can often get approved for store-branded cards from major retailers, and many such products have improved in recent years, offering better rewards and becoming more useful for everyday spending. Make sure you know the difference between “closed-loop” cards and “open-loop” cards. Many store cards are “closed-loop” cards, meaning you can use them only at the issuing store, or perhaps at a group of stores under one company’s umbrella. If you want a card you can use anywhere, look for one with a Visa or Mastercard label on the front. These are known as “open-loop” cards.

Favorite stores in a new concentration are a closed cycle of receiving and spending bonuses, a new economic tool for linking a client to a certain network. Of course, in this case, a number of factors must be observed:

• Diversification of the network by categories of purchases;
• Maintenance of service standards;
• A clear credit card bonus system.

Not all networks can afford a closed system, which limits the ability to use the card to several stores. The work of the “open cycle” is represented by cards with Visa or Mastercard designations on the front side.

Tracking the use of bank cards in retail chains provides information for understanding where you can get more bonuses.

Map from Walmart Network

A popular network encourages you to make purchases using your own application, returning as much as 5%. Other nice bonuses – refueling, restaurants, travel. Surprisingly, this is an open-cycle card – that is, it can be used wherever Mastercard is accepted.

The popular Amazon is not far behind with its Visa Amazon Prime Rewards.

Like the previous one, it does not require annual fees, but registration is required as a quality in the company’s prime club. The card gives five percent discounts within the network, as well as refunds from restaurants, pharmacies and gas stations. What is a big plus? There are no restrictions on the amount of purchases at a discount.

Let’s move on to the closed cards.

A good card with a zero contribution is the target REDcard. Gives 10% on his birthday – that is, every year since your registration. Why do users like this card, except for a 5% discount? Of course, for free shipping through Target.com. Regular use of the resource for the purchase of necessary things like clothes, food and furniture will make it possible to save a couple of hundred a year.

Gap Visa Brand Card

For lovers of this brand there is a great plus – bonuses of five points for every dollar. Online shopping is encouraged. You can not save receipts and easily return the goods of partners, these include: Athleta, Old Navy and Banana Republic. A great option for shopaholics with a real discount of 10%. Debtors are not favored here – the interest rate is quite high.

We pass to purchases of another segment. TJ Maxx, Marshalls, HomeGoods, Sierra Trading Post and Homesense – for a dollar point and five points for partners – with a TJX Rewards (Platinum Mastercard) credit card. The interest on the loan promises to be consistently high.

Cards for consumers with high credit rating.

For general use, these cards are already a step on the way to a certain VIP space. In order to get Chase Freedom and Back Cash, you need to get over 700 points in your credit history.

The benefits are clear:

• Refund from 5 to 1% depending on the category of purchases.
• There is an opportunity to earn additional preferences.
• An improved (open) type card, so it can be used everywhere.
• Good signup bonuses. Well, the system is pulling more and more customers, and getting $ 150 for 500 spent is always nice.

There are some disadvantages – for example, the lack of free delivery on popular sites. Good bonuses are awarded only for one and a half thousand a month. When the limit is exceeded, you get not 5, but 1 percent of purchases. In addition, you are constantly advised on the categories you need to subscribe to in order to receive your bonuses. This is not about saving your budget, but about stimulating permanent shopping. Nevertheless, if your budget allows you to spend $ 1,500 a month on pleasant and necessary purchases, you will be guaranteed to have bonuses that can easily be converted into a cash equivalent.