Yesterday, my husband and I stopped by Target to pick up a few needed items ahead of our bi-weekly grocery shopping trip. Every time I shop at Target, I get the same offer from the cashier: “Would you like to save an extra 5 percent and apply for a Target REDcard?” Just in case he/she forgets to ask, each check-out line sports an advertisement for the card.
Because I don’t want to accrue any more debt, in the past, I’ve given neither the signs nor the cashier’s question much thought. But yesterday, I noticed something on the sign I hadn’t before: REDcards can be credit cards or debit cards. I have no interest in a credit card, but depending on the terms, a debit card that gives me a 5 percent discount on all purchases at Target might come in handy.
I didn’t want to hold up the line asking the cashier questions, so when she asked whether I wanted a REDcard, I said no. When I had a chance later, I went to the company website to see if the card’s for me.
My answer: Probably not. In my state, the debit card has an annual fee of $25. (Some states are higher, ranging up to $40. In a few states, the fee is $20.) That means that I would have to spend more than $500 annually at Target to get my money’s worth from the card, and since I’ve been doing the bulk of my grocery shopping at Aldi, I hardly ever go to Target.
For the rest of the year, though, I am going to keep track of how much I spend at Target. If I average $50 a month, I will give the card a shot in 2013, though.
Because I don’t want to accrue any more debt, in the past, I’ve given neither the signs nor the cashier’s question much thought. But yesterday, I noticed something on the sign I hadn’t before: REDcards can be credit cards or debit cards. I have no interest in a credit card, but depending on the terms, a debit card that gives me a 5 percent discount on all purchases at Target might come in handy.
I didn’t want to hold up the line asking the cashier questions, so when she asked whether I wanted a REDcard, I said no. When I had a chance later, I went to the company website to see if the card’s for me.
My answer: Probably not. In my state, the debit card has an annual fee of $25. (Some states are higher, ranging up to $40. In a few states, the fee is $20.) That means that I would have to spend more than $500 annually at Target to get my money’s worth from the card, and since I’ve been doing the bulk of my grocery shopping at Aldi, I hardly ever go to Target.
For the rest of the year, though, I am going to keep track of how much I spend at Target. If I average $50 a month, I will give the card a shot in 2013, though.
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