Target is currently offering a coupon good for $40 off of $40 or more when you open a new Target RedCard by 5/28/22. It 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.
- Target is offering $40 off a purchase of $50 or more when you open a new Target REDcard between 5/1/22 and 5/28/22. Note that this applies to both the debit or credit card, but we only recommend doing the debit card deal.
- Direct link to ad
- Direct link to debit application
- 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 5/1/22 and 5/28/22.
- The coupon will be mailed to approved cardholders with their RedCard and will be valid through 6/25/22.
- 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.
There are a bunch of exclusions above, but most regular Target shoppers will still find $40 off of $40 to be an easy bonus. While the win isn’t huge, it’s churnable and the $40 off $40 coupon works both online and in-store, meaning that you can get $80 worth of stuff for free. You’ll then be eligible future coupons again 90 days after you last opened it (requiring closing and re-opening the card).
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).