In today’s difficult economy, we’re all trying to save money wherever we can. If you’re already a Target shopper, you probably already know that Target has some excellent prices. Like all stores, their pricing can vary on particular items–but overall, their prices tend to be lower than many other retail stores. But there’s a way you can to save even more at Target, on top of their normalo low prices. And this method can be combined with any other sales Target is running, and with any coupons.

If you’re approved for a Target credit card and use that card for Target purchases, you’ll get 5 percent off your order. (There are a couple of exceptions, such as prescription medications–but the exceptions are few.)

Target offers two credit cards–a REDcard for Target-only purchases, and a Target VISA card that can be used anywhere VISA is accepted. Using either of these cards to shop at Target gets you an instant five percent off. (You’ll see how much you saved  as soon as the transaction is completed. You’ll see the amount you received off under “Today’s REDcard Savings” printed on your receipt; you’ll also see your year-to-date savings.) And five percent off every order can really add up–especially if you’re a weekly Target shopper like me.

As of March 2, I’ve already saved $61.53 for 2012.

Concerned about finance charges? You’ve got two options: set up your Target Credit Card for automatic payment and pay the full amount due from your bank account, and you’ll never have to pay any finance charges. Alternatively, Target offers a debit card that takes the money right out of your checking account when you make a purchase at their store–and this debit card offers the same five percent reward as the Target Credit Cards.