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The 3 Best Online Retail Rewards Cards

These cards offer some of the most generous rewards in the credit card business.You’re going to see a lot of “best of” lists this time of year. We thought we’d add to the parade with a list of our own.

These three online retail cards offer some of the most generous rewards in the credit card business.

They’ve all also been improved recently, so they’re even better than ever.

Amazon.com card now gives you near-instant gratification

The Amazon.com Rewards Card from Chase Bank, which already was one of the best co-branded rewards credit cards, is now even better.

You earn three points per dollar on Amazon purchases, two points at gas stations, drug stores and restaurants and one point on all other purchases.

Now you can redeem your rewards points nearly as fast as you earn them. No matter how many points you earn, you can use them almost immediately to pay for purchases on Amazon. For example, if you have 1,000 points, you can take $10 off the price of your purchase.

In addition, if you have a Discover Card, you can now redeem your cash-back bonus to buy things at Amazon.com and combine it with your Amazon points.

If you qualify for a new card, you get instant credit approval, plus an immediate $30 credit you can use on your first purchase.

5% back and free shipping with the Target REDcard

The REDcard from Target is one of the most generous retail rewards credit cards, and it’s more useful than ever.

You still get 5% back on every purchase you make in a Target store or at Target.com. That’s like getting 5% cash back, except you get the reward automatically and immediately at the checkout.

The retailer recently added a new feature that gives you even greater savings. Now when you use your REDcard at Target.com, not only do you get a 5% discount, you get free shipping, and there’s no minimum purchase.

The Target REDcard can only be used in Target stores or on its website.

The only drawback to this card is the high APR: 22.9%. So make sure you pay off your balance in full each month.

Overstock.com offers 8% back on purchases, plus free shipping

The Overstock.com MasterCard is really only for frequent shoppers at the online retailer, but the rewards are so good that it’s hard to leave it off our best-of list.

The card gives you free membership in Overstock’s frequent shopper program, Club O, a $19.95 a year value.

That entitles you to earn 5% back on all of your purchases at the online retailer, plus free shipping (except for books, CDs and DVDs under $25).

However, when you use this card for purchases at Overstock, you earn an additional 3% back, for a total of 8%. You also earn 1% on all of your non-Overstock purchases.

Rebates are redeemable for rewards dollars at Overstock (not cash), and there’s no limit on how many you can earn.

You also get a $30 statement credit after your first transaction, whether it’s a purchase or a balance transfer.

That statement credit was recently increased from $20.

In addition to the great rewards, the APR is a moderate 15.99%. There’s also 0% interest on purchases for the first six months.

Compare these rewards cards with the credit card offers in our extensive database.

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