What are best credit cards for back to school shopping in August 2024? As the new school year approaches, parents and students alike are preparing for back-to-school shopping. Target is a popular destination for buying school supplies, clothes, and other essentials. However, with rising costs, finding ways to save money is crucial. One of the best ways to do that is by using the right credit card. The right card can offer cash back, rewards, or special financing options that can make a big difference. In this blog, we’ll explore the best credit cards for back to school shopping at Target in August 2024.
Best Credit Cards for Back to School Shopping
1. Target REDcard
The Target REDcard is a must-have for anyone who shops at Target frequently. This card offers a straightforward 5% discount on every purchase made at Target, both in-store and online. This discount is applied at checkout, so you don’t have to wait for rewards to accumulate. It’s an immediate saving that can add up quickly, especially during back-to-school shopping.
In addition to the 5% discount, the Target REDcard also offers free shipping on most items purchased on Target.com. For those who are often shopping online, this is a great benefit. The card has no annual fee, which makes it a budget-friendly option. However, it’s important to note that the Target REDcard can only be used at Target and Target.com.
2. Chase Freedom Flex
The Chase Freedom Flex is another excellent option for back-to-school shopping. This card offers 5% cash back on rotating categories that change every quarter. For the third quarter of 2024, one of the bonus categories includes back-to-school shopping, which often includes Target purchases.
In addition to the 5% cash back on rotating categories, the Chase Freedom Flex offers 3% cash back on dining and drugstore purchases and 1% cash back on all other purchases. New cardholders can also earn a $200 bonus after spending $500 within the first three months of opening the account. This card has no annual fee, making it a versatile and cost-effective choice.
3. Citi Double Cash Card
The Citi Double Cash Card is a simple and straightforward option for those who prefer cash back without worrying about rotating categories. This card offers 2% cash back on all purchases – 1% when you buy and 1% when you pay off your balance. This consistent cash back rate makes it a great option for back-to-school shopping at Target.
While the Citi Double Cash Card doesn’t offer bonus categories, its 2% cash back on all purchases makes it a solid option for those who want a straightforward and easy-to-understand rewards structure. This card also has no annual fee, adding to its appeal for budget-conscious shoppers.
4. Discover it Cash Back
The Discover it Cash Back card is another card with rotating categories, similar to the Chase Freedom Flex. For the third quarter of 2024, one of the bonus categories is back-to-school shopping, which can include purchases at Target. This card offers 5% cash back on up to $1,500 in purchases in these categories each quarter, after which you earn 1% cash back.
One of the standout features of the Discover it Cash Back card is the Cashback Match program. Discover will match all the cash back you’ve earned at the end of your first year as a cardholder. This means if you earn $200 in cash back during your first year, Discover will match it, giving you a total of $400. This card also has no annual fee, making it a great option for maximizing rewards during back-to-school shopping.
5. American Express Blue Cash Preferred Card
The American Express Blue Cash Preferred Card is an excellent choice for those who spend a lot on everyday essentials, including groceries. This card offers 6% cash back at U.S. supermarkets on up to $6,000 in purchases per year, then 1% thereafter. It also offers 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations, and 1% cash back on other purchases.
While Target purchases may not directly earn the 6% cash back, the card’s high rewards rate on groceries and gas can help offset other expenses, freeing up more of your budget for back-to-school shopping. The American Express Blue Cash Preferred Card does have an annual fee of $95, but if you maximize the rewards, the benefits can outweigh the cost.
6. Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne Cash Rewards Credit Card is a great option for those who enjoy dining out or entertainment, but it also offers solid cash back on other purchases. This card provides 3% cash back on dining, entertainment, popular streaming services, and at grocery stores, plus 1% on all other purchases.
While Target purchases typically earn 1% cash back, this card’s strong rewards in other categories can help you save on back-to-school shopping indirectly. Additionally, there’s no annual fee, and new cardholders can earn a $200 bonus after spending $500 within the first three months.
Maximizing Your Rewards
To get the most out of your back-to-school shopping, consider combining multiple cards. For example, you could use the Target REDcard for your Target purchases to get the 5% discount and another card like the Chase Freedom Flex or Discover it Cash Back for other purchases that fall into their bonus categories. This strategy allows you to maximize your savings and rewards across different spending categories.
Considerations Before Choosing a Card
When choosing a credit card for back-to-school shopping at Target, it’s essential to consider a few factors:
- Spending Habits: Think about where you spend the most and choose a card that offers the highest rewards in those categories.
- Annual Fees: Some cards offer high rewards but come with an annual fee. Make sure the benefits outweigh the cost.
- Special Financing: If you plan to make a large purchase, look for cards that offer special financing options to spread out the cost over time.
Conclusion on Best Credit Cards for Back to School Shopping
Back to school shopping at Target doesn’t have to break the bank. By choosing the right credit card, you can save money, earn rewards, and make the most of your spending. Whether you prefer the straightforward savings of the Target REDcard or the flexible rewards of the Chase Freedom Flex, there’s a card out there that can help you get ready for the new school year without stretching your budget too thin.
Make sure to evaluate your spending habits and choose the card that best fits your needs. With the right strategy, you can make back-to-school shopping more rewarding than ever.
Anurag is a finance writer with 4 years of experience crafting insightful and actionable content. Specializing in personal finance, investing, and financial planning, Anurag simplifies complex concepts for readers.
