TJ Maxx Credit Card Review

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If you love shopping at TJ Maxx, HomeGoods, Marshalls, and Sierra Trading Post, the TJ Maxx Credit Card could be a good match for you. Both the store credit card and the Platinum MasterCard® give reward points for every dollar spent, which can add up quickly if you’re a frequent shopper. Cardholders earn anywhere from one to five points for every dollar they spend, and every 1,000 points gets $10 in rewards.


Two shoppers each applied for the TJ Maxx Credit Card, issued by Synchrony Bank. The bank approved Rebecca for a TJ Maxx store credit card and Ellen for a Platinum MasterCard®. Each card shares the same annual percentage rate (APR) and entitles the holder to the TJX Rewards® program, but the Platinum MasterCard® can be used anywhere MasterCard® is accepted and the bank requires applicants to have a higher credit score than that required for the standard store card.

Take a good look at the APR, fees, required credit score, and the structure of the rewards program before applying for the card. Like most store cards, this credit card comes with a hefty APR.

tjxmastercardAPR and applicable fees on a TJ Maxx card

Synchrony Bank, the financial institution that issues the TJ Maxx credit card, doesn’t charge an annual fee for this credit card. The variable purchase APR of 27.24% is based on the Prime Rate and varies according to market conditions. There is a minimum interest charge of $2.00, and late payment fees cost up to $35.

Cardholders can use the TJ Maxx Platinum MasterCard® to get a cash advance. The bank charges a 23.74% to 29.99% variable APR on cash advances and a cash advance transaction fee of at least $10 or 4% of the advance amount, whichever is greater.

tjxstorecardHigh interest rates on a TJ Maxx card

Like most store cards, the TJ Maxx credit card comes with a high interest rate. Using the card wisely can help establish credit history and prevent the likelihood of having to pay an astronomical final price.

To understand how card management affects the bottom line, consider how Rebecca and Ellen handled their account balances.

Ellen charged $500 on her TJ Maxx credit card, and she only made the minimum monthly payments. It took her 27 months to pay the card off, at a cost of $174 in interest charges.

Rebecca charged the same amount on her credit card, but she made a monthly payment of $100. It took her just six months to pay it off. She paid $37 in interest charges.

Pay off the balance as quickly as possible to save a significant amount of money on items purchased with a high-interest credit card. To compensate for the high APR, pay the TJ Maxx credit card bill in full whenever possible.

Minimum credit score needed for a TJ Maxx card

Synchrony Bank, the institution that issues this credit card, is known to approve applicants for the Platinum MasterCard® who have fair to excellent credit scores that range from 620 to 720 or higher. The bank may accept applicants with lower credit scores for the TJ Maxx credit card, which cardholders can only use at TJ Maxx and related stores.

The importance of your credit score for a TJ Maxx card

The TJ Maxx credit card doesn’t offer a free monthly FICO® score like some other reward cards do. Instead, it’s up to you to regularly monitor your credit report and have a good understanding of your credit score. The majority of lenders use FICO® scores to determine how much of a risk an applicant’s history poses. The credit bureaus calculate this three-digit score based the following five factors:

  • Payment history (35%)
  • Amount of money owed (30%)
  • Length of credit history (15%)
  • Types of credit (10%)
  • New credit (10%)

Keep on top of your finances. Make on time payments and carry low balances to put your most creditworthy foot forward. In addition to a higher likelihood that you receive approval for a TJ Maxx credit card, it also opens other opportunities.

“Maxx”imize your rewards

Both the TJ Maxx store credit card and the Platinum MasterCard® give 10% off the first online purchase and 5 points for every $1 spent at tjmaxx.com, TJ Maxx, HomeGoods, Marshalls, and Sierra Trading Post, making it easy to maximize rewards by shopping in the approved stores.

Both cards give $10 in rewards for every 1,000 points earned, enter you in sweepstakes every time you shop, and offer unlimited points to earn. Other perks include special shopping hours and unique fashion experiences. When you make three purchases within 12 months, you become eligible to receive an invitation to an exclusive TJX Rewards® Access event.

In addition to being able to use the Platinum MasterCard® anywhere that accepts MasterCard®, this TJ Maxx credit card provides a few extra rewards. Examples include the ability to earn one point for every dollar spent outside of the TJ Maxx stores. It also gives cash access, price protection, and identity theft resolution.

As TJ Maxx credit card holders, both Rebecca and Ellen know that this card isn’t for everyone, but they enjoy earning rewards as they shop. Ellen can use her Platinum MasterCard® everywhere MasterCard® is accepted, and Rebecca is using her store card to help establish a positive credit history.

Although the variable APR on both cards can add expensive interest to the final price tag on their purchases, Ellen and Rebecca both know that paying their balances down quickly saves them money and lets them accumulate reward points, earn sweepstakes entries, and gain access to exclusive store events.

Caryn Anderson
Caryn Anderson combines extensive behind-the-scenes writing experience with her passion for all things food, fashion and finance. Anderson honed her craft while earning her B.S in Communication Studies from New York University.

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