TJX Rewards Platinum Mastercard Review

Full Review of TJX Rewards Platinum Mastercard

Pros Explained

• Significant rewards for TJX purchases: The TJX Rewards Platinum Mastercard offers 5% back on purchases made at TJX stores, including TJ Maxx, Marshalls, and HomeGoods. Earning 5% back could quickly add up to some decent savings if you routinely shop at these stores for clothing, accessories, home décor, or other items.
• 10% off your first TJX purchase: It's more common with retail store rewards cards to receive a discount on your first purchase in place of a typical introductory bonus offer. This card follows that practice, offering new cardholders 10% off their first in-store or online purchase at TJX stores. 
• Widely accepted: The TJX Rewards Platinum Mastercard is widely accepted around the world, making it possible to earn rewards on virtually all your purchases.

Cons Explained

• Limited redemption options: You can redeem your points for a $10 shopping certificate good at TJX stores and online when you reach 1,000. That keeps things simple, but you don't have this option if you use your rewards for a statement credit.
• Carrying a balance could be costly: Like many other retail store cards, the TJX Rewards Platinum Mastercard has a relatively high variable APR. Carrying a balance from month to month could cancel out the value of any rewards you earn from shopping. 
• Not ideal for everyday spending: You can use this card anywhere, but it's not necessarily the best choice for everyday purchases. Using it to purchase gas or groceries would earn you 1% back. But you could easily earn 1.5% or more back on these purchases with a regular cash back rewards credit card.

Who This Card Is Best For

The TJX Rewards Platinum Mastercard is best suited to people who regularly shop at TJX stores and want to earn rewards that they can spend there. It's also appropriate for someone who frequently shops at TJX stores and wants to earn rewards on purchases made elsewhere. 

You'd have to spend $200 at TJX stores to earn 1,000 reward points based on the 5% back rate. This card could be a good fit if that matches up with your typical spending habits.  

There's also a non-Mastercard version of this card, the TJX Rewards credit card, which can be used only at TJX stores. It earns the same 5% back at TJX stores and you still get the 10% discount on your first purchase.  

Redemption works the same with either card. Neither card charges an annual fee and the Mastercard version charges no foreign transaction fee.

Rewards Earning Details

The TJX Rewards Platinum Mastercard has a simple rewards structure. When you use this card, you earn:

• 5% back on purchases at TJX stores
• 1% back everywhere else

There's no introductory rewards bonus, but you do get 10% off your first purchase. Rewards are unlimited so you can earn as many points as your spending allows. This includes rewards on TJX purchases as well as those made elsewhere. 

Rewards Redemption Details

Redeeming rewards with the TJX Rewards Platinum Mastercard is as easy as earning them. When you accumulate 1,000 points, you can redeem them for a $10 shopping certificate good for in-store or online purchases at TJX stores. You also have the option of redeeming for a $20 certificate if you have at least 2,000 reward points. Each point works out to a value of one cent.

How to Maximize Your Rewards

Maximizing your rewards with the TJX Platinum Rewards Mastercard means shopping at TJX stores whenever possible. Here are a couple of examples of how that might look, based on your spending habits.

Average case

Let's assume you’re a moderately frequent TJ Maxx, Marshalls, and HomeGoods shopper who spends $3,600 a year at these stores or an average of $300 a month. You also spend another $500 a month on miscellaneous purchases with your card. 

You'd earn 18,000 points on your TJX purchases and 6,000 points on miscellaneous spending at that spending rate. This works out to 24 $10 reward certificates or $240 in savings on future purchases.

Aspirational case

Now let's assume that you’re an avid TJ Maxx, Marshalls, and HomeGoods shopper who spends $1,000 a month at these stores plus another $1,000 a month elsewhere. You'd earn 60,000 points on your TJX purchases and 12,000 points on all other purchases at that rate.

You'd have 72,000 points altogether. That would be good for 72 $10 reward certificates, or $720 in savings on future purchases.

Cardholder Experience

Synchrony Bank issues both the TJX Rewards Platinum Mastercard and the TJX Rewards card. It received a score of 788 out of 1,000 in J.D. Power's 2021 U.S. Credit Card Satisfaction Study. The average rating for national issuers was 809. It dropped to 786 in the 2022 study as the average rose to 814.

You can manage your account online or through the TJX mobile app when you're approved for this card. Customer service is available by phone at 1-877-890-3150 if you need help with your account.

Security Features

The TJX Rewards Platinum Mastercard features chip security to help protect your financial information. but the TJX Rewards card does not. You can monitor your account activity online or through the TJX mobile app.

Fees to Watch Out For

The TJX Rewards Platinum Mastercard charges no annual fee or foreign transaction fees. There's a late payment fee of up to $38. You can take cash advances from this card but they'll cost you either $10 or 4% of the advance amount, whichever is greater.

The APR on this card is relatively high, so carrying a balance could be expensive even aside from these fees.

Final Verdict

You might want to consider the TJX Rewards Platinum Mastercard if you regularly shop at TJX stores and you also want to earn rewards on purchases made elsewhere. There's no annual fee so you don't have to worry about that detracting from the value of your rewards. And the 5% back rewards rate on TJX purchases is higher than you could get with many cash back cards.

But this card ties your hands when it comes to redemption. You can only use your rewards at TJX stores. A traditional cash back card would be a better choice if you'd like to have more options for using rewards.