(EXPIRED) $40 off $40 at Target w/ new RedCard Debit Card

Sorry, this deal is no longer available. Do you want to be alerted about new deals as they’re published? Click here to subscribe to Frequent Miler's Instant Posts by email.

Target is currently offering a coupon good for $40 off of $40 or more when you open a new Target RedCard by 5/27/23. It probably isn’t worth doing this deal for the credit card, but it could be a nice deal if you’re opening the debit card since that card has no fee or hard pull — making this a free and easy $40+ win for Target shoppers.

The Deal

  • Target is offering $40 off a purchase of $40 or more when you open a new Target REDcard between 4/30/23 and 5/27/23. Note that this applies to both the debit or credit card, but we only recommend doing the debit card deal.
  • Excludes Reloadable cards.
  • Direct link to ad
  • Direct link to debit card page

Key Terms

  • Get a coupon for $40 off an over $40 qualifying purchase when you are approved for a debit or credit RedCard in-stores and at Target.com between 4/30/23 and 5/27/23.
  • The coupon will be mailed to approved cardholders with their RedCard and will be valid though 6/26/23. Must upload coupon to Target App and be fully enrolled in Target Circle to redeem coupon.
  • Excludes alcohol, Apple products, Baby Alive Grow Up Baby, Barbie (Camper, Dreamhouse, Dreamplane, Malibu House and Townhouse), Beats Powerbeats Pro, Beats Solo Pro, Bose, Cards Against Humanity, Casper, The Child action figure, clinic & pharmacy, Cricut, dairy milk, DockATot, Dockers, Disney Frozen Castle, DSLR cameras & lenses, Dyson, Elvie, Facebook Oculus and Portal, face masks (Dolan, Sanctuary & Sugar Fix brands), Fitbit, gift cards, Google, HALO Baby, Hasbro Games (Classic Monopoly, Connect Four, Jenga, Rubik’s Cube, Sorry, Trouble), Hatch Maternity, Hot Wheels Ultimate Garage, HP Inc., Infant Optics, Instant Pot, JBL, LEGO, Levi’s Red Label, LG OLED TV, limited-time designer partnerships, Mega Bloks, mobile contracts, Motrin pain relief, Nerf Ultra, Ninja, Nintendo hardware and Switch games, Polder, Poo-Pourri, Peg Perego, Philips Avent, power shave, power dental, prepaid cards, PlayStation consoles and accessories, Revival, Samsung TVs, simplehuman, Sonos, Sony Electronics, Target Optical, Tempur-Sealy, Traeger, Tylenol pain relief, Unlocked phones, Vera Bradley handbags, Weber, What Do You Meme?, Xbox consoles and accessories, and the Zoe Doll.

Quick Thoughts

There are a bunch of exclusions above, but most regular Target shoppers will still find $40 off of $40 to be an easy bonus. You’ll then be eligible for future coupons again 90 days after you last opened it (requiring closing and re-opening the card).

There are a couple of new terms in this offer that haven’t been present previously and which could have a significant impact on the deal. First, Reloadable cards are now excluded from the promotion. These were added last year and were considered a different product from the debit or credit cards, meaning that you could get an additional bonus every 90 days by churning both the Reloadable and debit versions of the card. That’s no longer possible.

Second, Target is now requiring that the coupon be uploaded to the Target app and the recipient be fully enrolled in Target Circle. Until now, the $40 off $40 coupon worked both online and in-store, meaning that you could get $80 worth of stuff for free from one coupon. Since this will be uploaded to an online Target Circle account now, my assumption is that you’d have to scan it in store in order to use (or that it would be added to your Target Circle balance), probably spelling the end of the $80 online/in-store double dip.

I generally prefer to focus on larger bank account bonuses, but this is nonetheless an easy win and the deal is better still if you shop at Target regularly since the debit card gives you 5% off both in-store and online. There isn’t any benefit in opening the credit card over the debit card (and in fact that would be a pretty poor deal given so many credit cards on the market with offers that are much better than a $40 coupon).

Want to learn more about miles and points? Subscribe to email updates or check out our podcast on your favorite podcast platform.
Notify of

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inline Feedbacks
View all comments
Evan F

Question for the hive-mind, but some quick background first…last Target RED Debit card was applied and approved on 1/9/23 and closed on 3/13/23. I just re-applied for the same Target RED Debit card on 5/6/23 and was denied due to it being “too soon” since my last card.

When I asked the agent how long I need to wait until my next application, she said 180 days. I then asked her to clarify “180 from when?” (from last card opening, from last card closing?) and she could not answer the question.

So I throw it out to y’all as this was apparently their card department I was speaking to…is this a HUCA situation or does someone here have a more definitive “wait period” and from when does that wait period start?

[…] lasts from 1/1/2023 until 1/14/2023. Details are available in the current Target ad. Hat tip to Frequent Miler for posting this one and tipping me off to the current […]


Thank you! I shop at my local Target often, yet I hadn’t noticed this deal. I just signed myself and P2 up for the reloadable cards. I liked that the reloadable doesn’t have to be linked to our checking account, which I think should make it a good debit-like card to let our teens/tweens use anywhere with minimal risk. Also, it’s fee-free (except for a couple of things we’ll never do anyways) so that’s much better than most prepaid debit cards I’ve seen designed for teens/tweens that seem to have fees. If I’m overlooking something let me know but this appears to unexpectedly have more value than just the $40 coupon, which is great too.

Amy Mullin

I already signed up n just seen this offer but my card should or is on its way. Can I still be eligible


can i apply for debit card (& get $40 coupon) if already have credit card account?




what type of pull for reloadable card?




On the last go round I also got the reloadable Target card earning another $40+ in Target coupons


The exclusions are so dumb


Any assistance on redeeming the coupon online? I used the coupon in store today and then came home to use online. Put in promo code and it says invalid.


I don’t know why you are having problems. Are you sure that you entered the promo code correctly? I used the coupon in store today and came home and used the promo code online without any problems.


Always do online first! sometimes the store clerk will take the coupon away when redeeming instore. the clerk may have invalidated your coupon since it’s only suppose to be used once.


I bought several items using this $40 off coupon. If I return the items I bought, will I get a refund? Or will I get nothing back?

Dan Bortolini

This is a total misleading scam for online shopping. This is not cash back or a gift card. The $40 comes off of your purchase instantly. I applied the coupon and it said valid and showed up in my cart. Little did I know that it did not apply to the brand of item I purchased. I waited to see my statement to check for the credit and surprise surprise… No statement credit, no gift card.

So of course I called Target. They transferred me twice to card services. After 74 minutes on the phone, I was told that they couldn’t (really they wouldn’t) do anything because the coupon expired. I wanted a replacement coupon since I didn’t get the $40. I was told I can only get this if it’s lost in the mail and it’s their fault. The woman, who I did file an official complaint about for being so incredibly rude, kept trying to get off the phone saying is there anything else I can do sarcastically- I kept saying yes you can resolve my issue. Finally she just lied and said I submitted a case and you MIGHT get another coupon in 10-15 business days. Never got it. Thumbs down

Targets checkout system SHOULD HAVE SAID COUPON CANNOT BE APPLIED. I’m done with Target before I even got started being a regular customer. They got around 5 purchased out of me though… finger pointing and false promises.


Does it work if two people in the same household apply for the same offer?




Time to replenish my McCormick spices.

[…] lasts from 1/1/2023 until 1/14/2023. Details are available in the current Target ad. Hat tip to Frequent Miler for posting this one and tipping me off to the current […]


So this time I don’t see the $40 coupon listed on the site- though I do see it in the ad. I wonder if just applying for a debit card and pushing for the coupon if it doesn’t come with one is the way to go?


Can you apply again 90 days after you opened the last one, if you only closed it ~5 days ago? or is it 90 days from closing?




Still waiting on coupon to come. Received card 4 days ago. How long before I get it? Seems too long!


The coupon comes with the card in the same envelope.


I called the number on the back of the red card and told them that the coupon was not in my envelope and they sent me a coupon it took three days but I finally got it


Idk what happened, but last time they had this deal both my husband and I filled this out on our phones in store and-nada. How long does it take for you to get the coupon and debit card?

Billy Bob

I used the $40 online and then tried it in-store too and the cops came a-knocking.
Be careful, soldier!

Carl Pietrantonio

I used it in store FIRST and only then on line and it worked like a champ. YMMV


Can I use the debit card and the coupon for orders on target.com for same day delivery?

Biggie F

How long does it take to get the coupon?

What credit bureau does soft pull come from?


Before applying online, try store kiosk. They MAY sweeten the deal. Offer of $50 off and 10% for that days purchase. Cahiers and kiosk employees get incentives to push credit/debit cards.


Have to call in to cancel debit card?


Same question here. How can I cancel the debit card to requalify for fresh offers? I remember reading somewhere that I can click somewhere online. Thanks.


Just give them a call. That’s what I did 3 months ago and almost ready to jump back in now


Thanks, Alex. Will do that. I guess I’ll have to wait 90 days before re-applying.

Captain Greg

Any chance this is shows on Chex report?


Mine came today with no coupon — just tons of the same flyers about scanning to add to wallet and activating. Saw a comment on DoC about the same. Will probably wait a couple days then send a message but what a pain.


Call them I did and then they sent me a coupon

Biggie F

True no hard pull for debit card but I think they still do soft pull so you have to remember to unfreeze your credit reports.

I think. I would love to be corrected, because, in my mind, this is a pain.


Thank for remainder about unfreezing credit reports.


Disagree. Mine is Frozen. I just applied for the debit and was approved.


Wait, the same coupon code works online and also at the store? Intentionally??


Last month when I signed up, I used the coupon online, then went into the store to use the coupon and it didn’t work. There must be a trick to make it churnable, which I haven’t been able to find. I signed up again for P2 this time and will see if the reverse order works: in store, then online.


so did the reverse order work for double dip?


DP: If target cancels your pickup order, the coupon will not be restored

I purchased 50$ worth of normal stuff using my coupon for pickup at a local store.
Target cancelled the order an hour in and I was unable to reorder 2 days later (coupon code invalid).
I just went to the store and got it applied at the cashier at least.

Last edited 1 year ago by NotWeirdAl

will the 50 off work for gift cards ?


nvm just saw the terms mentioned not working for gc