TJX Rewards Platinum Mastercard Review

Frequent shoppers at TJX-affiliated stores, such as TJ Maxx, Marshalls, HomeSense, HomeGoods, and Sierra, could save a significant amount of money with a TJX Rewards Platinum Mastercard. The card is an especially good pick for families that spend a fair amount each year on new clothes for growing kids, new furniture or kitchen supplies, and other home-related purchases, and who could use some extra help shaving down their expenses. 

You may also have an easier time qualifying for the TJX Rewards Platinum Mastercard if your credit score is less than perfect: Store cards have a reputation for being easier to get than other cards.

• Generous rewards-earning rate on TJX purchases: Depending on how much you spend each year, you could save quite a bit with this store credit card. For example, the average family spends around $1,800 a year on clothing, according to the Bureau of Labor Statistics. If you use your TJX Rewards Platinum Mastercard to buy that much clothing from a TJX store, the 5% back in rewards would translate to $90. 
• Rewards redeemable at a variety of TJX stores: Together, the TJX family of stores sells everything from clothing and accessories to beauty products, toys, furniture, home decor, bath and bedding, kitchenware, pet supplies, outdoor gear, and more. 

• Low rewards-earning rate on non-TJX purchases: Unless you’re only interested in using your rewards to purchase more merchandise, you’re better off getting a card with a higher rewards rate on non-TJX purchases. 
• Rewards redeemable only for TJX merchandise: The TJX card is more restrictive than some competitors. For example, some co-branded store cards allow cardholders to redeem their rewards for cash back, gift cards, travel, or other rewards purchases. 
• High ongoing interest rate: You could get stuck with a ton of debt if you carry a balance on this card. Even for a store card, the interest rate on the TJX Mastercard is steep. What’s more, unlike some store cards, the TJX Mastercard doesn’t offer a lower introductory interest rate. 

Store credit cards don’t typically offer great bonuses—if they offer a bonus at all. However, the bonus on the TJX Mastercard is especially puny: You’ll get just 10% off an online or in-store purchase if you apply for the card on a desktop or tablet, or 10% off an in-store-only purchase if you apply for the card through your mobile phone. Even if you buy a lot, that discount won’t get you very far. For example, if you buy a $600 kayak from Sierra, you’ll only get $60 taken off the purchase price. If you buy $100 worth of clothing, you’ll get $10 off your purchase. 

If you’re using your card to buy merchandise from a TJX-affiliated store, the rewards rate on the TJX Mastercard is great. Only a handful of store credit cards offer a comparable 5% rewards rate and the merchandise you can buy with those cards is often limited. The TJX Platinum Mastercard is also one of the only store credit cards that offers its bonus points at a wide variety of stores. With so many earning opportunities, you could save quite a bit of cash. For example, if you spent $1,000 on clothing, $2,000 on furniture and home goods, and $500 on sporting goods, you’d earn $175 worth of rewards. 

However, the 1% rewards rate on non-TJX purchases isn’t as exciting. Some competitors, by contrast, offer bonus points on a wider variety of purchases, such as gas, dining, or travel.

Unlike some competitors, the TJX Mastercard doesn’t give you much choice in how to redeem your rewards. After you accumulate at least 1,000 rewards points, you’ll be issued a rewards certificate along with your billing statement. (They are issued in $10 or $20 denominations, depending on your points total.) If you don’t earn the 1,000 points until after Synchrony Bank sends you your bill, you’ll have to wait until the next month’s bill to receive your rewards. 

You can use your rewards in-store or online at any TJX-affiliated store in the U.S. or Puerto Rico. However, you can’t use your rewards to buy store gift cards.

Use the card for all of your TJX-affiliated store purchases to earn the 5% cash back. Keep an eye out for sales at your favorite stores once you’ve accumulated some rewards. That way, you can stretch your points even further by using them to buy goods at a discount. 

In addition, consider pairing this card with another rewards card that offers higher earnings on stuff you buy outside of TJX stores.

Like most store cards, the TJX Rewards Platinum Mastercard doesn’t offer many extra perks. However, it does give you access to occasional private shopping events.

You’ll also receive cardholder perks through Mastercard. Cardholders with good credit may be issued a World Mastercard, which offers more benefits than the standard Mastercard. When you get your new card, you’ll also get a guide explaining your benefits. The guide will be accessible via your account page on Synchrony’s website, too. 

The TJX Rewards Platinum Mastercard’s issuer, Synchrony Bank, ranks near the bottom in J.D. Power’s 2019 credit card satisfaction survey, coming in 10th overall out of 11 credit card issuers and scoring 780 out of 1,000 points (industry average was 806). However, you can contact Synchrony Bank via secure email or by using an online chat feature on the website. 

Synchrony Bank provides basic security such as encrypted online access to your account, and account monitoring to detect fraudulent charges, but does not offer the full suite of security and identity protection tools (such as credit report alerts and virtual credit card numbers) that many of the large issuers do. 

The TJX Rewards Platinum Mastercard’s fees aren’t unusual for a store credit card. However, avoid cash advances since the card’s high cash advance fee ($10 or 4% of the amount) and 29.99% cash advance interest rate can add up quickly.