The Offer
Target will again run their annual sale on gift cards this holiday season.
- On December 4, buy Target gift cards at a 10% discount
The Fine Print
The press release doesn’t specify whether the deal will be valid in-store or online and how much the limit will be.
Last year, it was valid both in-store and online, and the limit was $300. I expect the $300 limit to remain the same, though I wouldn’t be surprised if they limit it to store-only this time. We’ll post again when we get closer and the details get clearer.
Our Verdict
Currently, there isn’t any easy gc-reselling opportunity with these gift cards, but many people will be able to use the Target gift cards organically. Instead of the standard 5% discount you get at Target with REDcard, you’ll get 10% + credit card points.
Target also runs a bunch of other promos for the holidays, including free shipping without a minimum (even for those without REDcard), deals on toys, and more; check out the press release for some additional details.
Hat tip to iampatty
Target is evidently NOT considered a department store per Discover Card’s bonus 5% at department stores this quarter. Maybe the Target Red card will work to buy Target gift cards – yeah riiight
No, REDcard doesn’t give a discount on Target gift cards.
Hopefully these will be available online and hopefully the Amex offer to earn 2x at target.com works.
I have heard so many times that target gift cards are drained both bought online and in store, is it worth it to get it if I don’t plan on using it in a few months?
I don’t remember ever hearing about first-hand cards purchased direct from Target or target.com being drained. But it’s certainly possible.
Any idea how they were enforcing the “one per household” last year for those purchased in store? Were they just tracking the credit card used?
For online purchases, they might have tracked logins or addresses, but I’m not really sure. I did one online order and one mobile order and it worked.
They shouldn’t let you buy target gift cards with target gift cards. Someone could just end up churning all day if they have no way of tracking max purchases per person.
Plot twist: Target raises prices across the board 10%
Wondering if Target is considered a “department store” to get the Discover card 5% when buying the Target GCs
Some targets are coded as groceries
As I remember in 2015 the gift cards won’t be activated until the next day. Likely to prevent the loop.
Also resell rates are not near the previous year. No excitement.
I think they killed the ability to buy 3rd party gift cards with target gift cards after they did away with the ebay gift card deal. 2016 will be a banner year for dead deals.
this was fun when we were able to use these to buy eBay gift cards at extra 5% off… good times.
Yup, was a great money making loop. Perpetual 14%+ discount opportunity when riding the Redcard/ebay bucks discount gravy train. Then used the ebay gift cards towards buying gold coins with ebay buck offers. I knew it wouldn’t last but I definitely do miss it… much more than the RB days and loading of $5k/mo with cc.
When the ride ended I still had over $1.2k in Target gift cards lol. I opted to spend them down through organically…down to less than $100 now. Might load up on more gift cards through this deal seeing as 10% is about as good as you’ll find these days for Target gc.
We may be soulmates because I was in the same situation running the same gold flip with about $1200 in target gift cards. I’m choosing to spend it down organically as well now. Still have about $1k 🙁