The pitch is simple and immediate: 5% off at Target stores and Target.com, taken as an instant discount at checkout rather than rewards you redeem later, with no annual fee. If a meaningful share of your groceries and household goods comes from Target, that is hard to argue with, and the card adds free two-day shipping on eligible Target.com orders, an extra 30 days on returns, and 50% off the $99 Circle 360 membership. The limits are just as clear: the 5% applies only to Target purchases, and Target GiftCards, prescriptions, and some services are excluded, so this is a store card and not a wallet anchor. The APR is a flat 27.4%, high enough that carrying a balance erases the discount several times over. The current offer is $50 in Target Circle Rewards deposited at approval, back down from the $100 that ran through August, and it requires applying by September 26, 2026.
Earn rates & credits
| Category | Rate |
|---|---|
Target Instant 5% discount at Target stores and Target.com, including in-store Starbucks and Target subscriptions; excludes Target GiftCards, prescriptions, and some services. A Mastercard version issued to well-qualified applicants also earns 2% on gas and dining and 1% everywhere else outside Target. | 5% |
| Benefit | Value |
|---|---|
Target Circle 360 Discount 50% off the $99 per year Target Circle 360 same-day delivery membership | $49 /yr |
| Total annual credits | $49 |
Card details
Regular APR | 27.4% variable |
Foreign transaction fee | None |