T.J. Maxx Credit Card: Annual Fee, Interest Rate and Cashback Points on TJX Rewards in 2021

Last Updated on June 23, 2021

MyFinancialTimes is a reader-centric site. We may receive compensation from the products and services we mention or recommend in this story, but the opinions are the author's own. Remuneration may impact where offers appear. We may not include all available products or offerings. To learn more you can visit our advertising policy and editorial policy.

T.J. Maxx credit cards or TJX Rewards cards give Maxxinistas a better way to earn rewards while they shop, but for someone who’s not a fan of the Maxx brand or its affiliate stores, there are other places to look.

The Rundown – T.J. Maxx Credit Card

There are two versions of the TJX Rewards credit card, the TJX Rewards Credit Card and the TJX Rewards Platinum Mastercard.

  • The TJX Rewards Credit Card can only be used at T.J. Maxx and its affiliate partners in the United States and Puerto Rico such as Marshalls, HomeGoods, HomeSense, and Sierra. For brand loyalists that shop often in these stores and want a dedicated card for those purchases, the Rewards Credit Card is a perfect $0-annual-fee card with plenty of benefits on purchases.
  • The TJX Rewards Platinum Mastercard can be used anywhere Mastercard is accepted. It has a deeper rewards catalog and also includes cashback points on purchases made elsewhere, but don’t count on a generous offer.

The Incentive: T.J. Maxx credit cards offer an exclusive, first-time deal on the initial purchase made with the card. This can be a hefty discount if you’re about to make a huge purchase, especially at HomeGoods or HomeSense. The company gifts 10% off the first purchase made with the card when the customer opens an account. This is a huge first-time incentive for an in-store card, but there are better ones out there if you’re not sold on the Maxxinista lifestyle.

shutterstock 1388244446
There are two versions of the TJX Rewards credit card, the TJX Rewards Credit Card and the TJX Rewards Platinum Mastercard. Photo credit: Shutterstock.com

Rewards: On top of the initial incentive, both the TJX Rewards Credit Card and the TJX Rewards Platinum Mastercard offer 5% back in rewards for purchases made at T.J. Maxx stores, online, or with affiliated brands. So, for every $1 spent at T.J. Maxx, Marshalls, HomeGoods, Sierra Trading Post, and HomeSense, you’ll get 5 points. For all other purchases, you’ll only get 1 point per $1 spent.

Cash It In: Essentially, every point is worth a penny, but those pennies can only be redeemed at T.J. Maxx or affiliated stores online or in person. The points can only be cashed in at 1,000 or 2,000 points, in which you’ll receive a $10 or $20 reward certificate. So, for every $200 you spend in-store, you’ll get $10 extra to shop with, which can be a nice chunk of change if you’ve got a shopping spree in your future.

The Good, The Bad, The Large APR

There are a lot of good things about the T.J. Maxx credit cards, especially for those eager to change their wardrobe or furnish their home. Despite the relatively high in-store reward program, the cash-back program for all other purchases is particularly weak for a store credit card. Credit cards usually offer 2-5% purchases outside the company, which makes the TJX credit cards a step behind.

On top of the weak out-of-brand incentives, the card is marred by the ongoing APR of 26.99% Variable, which can be detrimental for those who may need time to pay off their purchases. The card doesn’t give an introductory period with no APR. So that first purchase will need to be paid off on time, or the cardholder will face steep consequences. The only way to avoid the interest is to pay your balance in full and on time every month. Those who are used to some breathing room at the onset will want to look elsewhere.

The Verdict

The TJX Rewards Credit Card and Platinum Mastercard are great options for those who make hefty purchases within the T.J. Maxx brand. Whether you’re preparing to furnish your home at HomeGoods or buy a fresh set of clothes at T.J. Maxx, the Rewards Credit Cards give you a nice initial incentive and additional cash-back rewards that are on par with other store credit cards.

If you’re a real Maxxinista, having a TJX Rewards Platinum Mastercard also entitles you to special events both in-store and online. These events give you first dibs at new products and restocked merchandiser, and may even include gifts or prizes that are yours to keep.

For loyalists to the Maxx brand, the card is a must-have. For everyone else, this card’s a pass. There are better cards out there that give very hefty rewards for in-store purchases and also include consideration for general purchases outside the brand.