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Comparison of credit cards of well-known chain stores: which is more profitable

If you regularly shop at your favorite store, be it a wholesale warehouse, online retailer or large supermarket, you can spend a pretty penny in a month. One way to offset these costs is to get a credit card from the store, on which you will be credited with bonuses for each purchase. Writes about it CNBC.

Photo: Shutterstock

Many well-known retail chains, such as Costco, Amazon, Target and Walmart, offer their own credit cards, which provide competitive bonuses and free delivery of purchases from their websites.

If you're a frequent shopper, opening a credit card store can be a great idea. But keep in mind: store cards usually have higher interest rates, which makes it even more important to pay your bill in full each month. If you strategize correctly using these cards, they will help you maximize savings on everything from groceries to clothing.

Due to the many options (Costco, Amazon, Target and Walmart) there may be problems with choosing a card that really deserves a place in the wallet.

Read credit card comparisons from four major retailers to choose the one that suits you best.

Membership Requirements

Visa Costco Anywhere and both Amazon Prime cards (Visa for Amazon Prime and Amazon Prime Store) require a store membership. To have one of these cards, you need to maintain an active membership. Annual Costco membership starts at $ 60 for Gold Star members, and Amazon Prime starts at $ 119.

Amazon Rewards Visa Signature, Amazon Store, Target RedCard, and Walmart do not require membership.

If you want to open a new card, but are not a member of the store’s loyalty program, you should pay attention to one of the non-core Amazon, Target RedCard or Walmart cards.

Where can you use cards

There are two types of store cards: traditional cards that can only be used within the brand (Amazon Store cards can only be used at Amazon) and co-branded cards that have a wider network and can be used almost everywhere (Amazon Visa Signature cards can be used wherever accepted Visa).

Traditional store cards include cards like Amazon Prime Store, Amazon Store, Target RedCard, and Walmart. They can only be used in the store and online store of the networks that issued them: Amazon, Target and Walmart, respectively.

On the subject: How to save money easily: benefits of membership in Costco and other retail chains

Co-branded cards include Visa Costco Anywhere, Amazon Prime Rewards Visa Signature, Amazon Rewards Visa Signature and Capital One Walmart Rewards. All these cards can be used in any of the places where Visa is accepted, except for a Walmart card, which can be used where Mastercard is accepted.

The best type of card for this criterion is very individual and depends on where you want to use it. If in many places, choose co-branded cards. But if you plan to use it only in the store, then it is better to give preference to traditional cards.

Costco is the only one not offering a traditional store card, while Target only allows you to apply for a store card (although there are cases where some cardholders are switching to a co-branded Mastercard).

Amazon and Walmart offer the opportunity to open either a traditional store card, which can only be used in its stores, or co-branded, and it can be used anywhere.

Annual fees and special funding

All of these credit cards are without an annual fee (although membership is required for Costco and Amazon Prime cards, it costs between $ 60 and $ 120 per year).

As for grace periods at 0% per annum, at present, only the Amazon Prime Store and Amazon Store cards offer special financing. Here are the current offers:

  • Do not pay interest on Amazon.com for purchases of $ 150 or more if the entire purchase amount is paid in full within six months
  • Do not pay interest on Amazon.com for purchases of $ 600 or more if the entire purchase amount is paid in full within 12 months
  • Do not pay interest on individual purchases on Amazon.com in the amount of $ 800 or more if the entire purchase price is fully paid off within 24 months

After the special offers expire, the loan interest is 25,99%

The remaining cards do not currently offer interest-free loans and have the following rates:

  • Amazon Prime Visa Card: variable rate from 14,24% to 22,24%
  • Amazon Rewards Card: variable rate from 14,24% to 22,24%
  • Target RedCard: 24,40%
  • Capital One Walmart Card: variable rate from 17,99% to 26,99%
  • Walmart Rewards Card: 26,99%

Bonuses

All credit cards offered by Costco, Amazon, Target, and Walmart provide reward programs. Rewards are usually associated with the cost of purchasing specific products, although some co-branded cards also offer bonuses for various products:

  • Visco Anywhere Visa Card: Get a 4% refund on gasoline purchases from the first $ 7000 in fuel costs per year (then 1%); 3% cashback of expenses on restaurants and tours; 2% refund on all other purchases from Costco and Costco.com.
  • Amazon Prime Rewards Visa Card: Get a 5% refund on purchases on Amazon.com and Whole Foods Market. 2% - from expenses in restaurants, gas stations and pharmacies; 1% for all other purchases.
  • Amazon Rewards Visa card: 3% return on purchases on Amazon.com and Whole Foods Market; 2% - for spending in restaurants, gas stations and pharmacies.
  • Amazon Prime Card: 5% return on purchases on Amazon.com.
  • Target RedCard: 5% discount when placing an order for most purchases in the store and on Target.com.
  • Capital One Walmart Rewards Card: Get 5% Return on Walmart.com Purchases 2% off purchases at Walmart stores, Walmart and Murphy USA gas stations, restaurants and travel stores.
  • Walmart card: 5% return on purchases at Walmart.com; 2% off purchases at Walmart stores, Walmart and Murphy USA gas stations, restaurants and travel stores.

Most cards (offered by Amazon and Walmart) provide the same bonus options, such as discounts on loans and gift cards, as well as the ability to use rewards at any time.

However, unlike the others, the two cards have very different reward programs: Visa Card Costco Anywhere and Target RedCard. And the Amazon Store Card is the only card without bonuses.

On the subject: 27 things you should not buy at Walmart

Target RedCard also provides an instant 5% discount on most Target purchases, which reduces your costs.

The card with the best rewards and redemption options depends on the degree of flexibility you prefer and where you shop. If you want to get the most rewards in your favorite store, just stick to the card that it offers. For example, if you want to earn high rewards at Walmart, consider any Walmart card.

But if you make purchases in more than one store and do not want to open a card in each store, think about how reward programs work and options for redeeming them.

Fringe benefits

If you are looking for a card with extensive benefits for the owner, such as travel insurance and extended warranty coverage, then joint branded cards provide the greatest number of benefits. Visa Costco Anywhere card, Visa Signature Amazon Prime Rewards card, Visa Signature Amazon Rewards card and Capital One Walmart Rewards card provide many additional benefits.

Some store cards, in particular Target RedCard, Amazon Prime Store Card and Amazon Store Card, offer free shipping for thousands of items without a minimum order.

Miscellaneous shop Educational program cards how to save money

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