Wanted to ask those who hold one or two or all three of these cards if they are reaping all the benefits from the card versus someone who does not have the card. I know that Macy's and Kohl's promote additional savings for card holders and Target gets the 5% back on Target purchases. I am just wondering if it would be worth it for me to get one of these cards for additinal savings. As it is now, I do my best to take advantage of coupons and cartwheel and using cash rewards cards for my purchases, but am wondering if I would get more if I had one of their cards. I looked at my yearly spend and I spend a significant amount of money at these retailers.
Thanks again for any input!!!
IMO it will always depend on which store(s) you're most likely to go to more often. I don't have a Kohl's nearby and have only maybe shopped there a few times. On the other hand, I tend to get all my moderate household items at Target, and do virtually all my clothes shopping at Macy's now. For me, those two cards are invaluable. (For the record, those two (and Mervyn's) were the first two credit cards I ever got as an 18 year old, so maybe I'm a little sentimentally attached... )
Target's straight 5% off discount at the register is fabulous, and the added benefit of extended warranty/return policies has helped out a few times.
Macy's discounts range from the steady stream of 20% off and $20 off $50+ coupons all the way up to special sales and events, with hidden bonus discounts that will catch you by surprise. A big chunk of these are applied on top of other discounts, and some even on special discounts like on Black Friday. A few years ago my savings on one particular early-morning 4 digit Black Friday spree was 75% off. Really can't beat that.
IMO getting them at their stores is a no brainer, especially if you already shop there. Just remember to pay off your balances most of the time due to the high interest. Both of these (Target moreso) tend to be stingy on the CLIs unless you let a balance report at least once every 6 months or so. Just pay it off the next cycle and you're much more likely to get a CLI later on. Small price to pay.
Have all 3. Kohls and Target are used the most and I have saved a lot. Macy's on line only because there is no physical store in my area. They are all no AF so no cost if u don't use. Probably 3 of the best store cards available. Would also add Sears to that mix