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Target launched a new promotion today, offering a 5% discount when buying up to $500 worth of their gift cards in one transaction. While this might seem like a nice little discount, there are a few reasons this is a fairly snoozeworthy deal.
The Deal
- Save 5% on Target gift cards bought directly from Target.
- Direct link to digital coupon.
- Direct link to Target gift cards.
Key Terms
- Expires June 19, 2021.
- Offer valid for one-time use purchase online only.
- Transaction can include multiple Target GiftCard items up to $500 ($25 maximum discount).
- GiftCards can be delivered via Mail, Email or Text.
- Offer excludes Visa Gift Cards, Mastercard Gift Cards, American Express Gift Cards and gift cards issued by other retailers such as dining, lifestyle and entertaining gift cards.
Quick Thoughts
If you’re incapable of leaving Target without two carts full of items that weren’t on your shopping list, the thought of saving 5% on that unnecessary-but-honestly-it-really-is-necessary stuff could be appealing. If that’s the case though, you might as well just get a Target RedCard as that offers a 5% discount at Target every day of the week, although I guess at least you’ll also earn credit card rewards buying discounted gift cards from this deal.
It’s not like getting a Target RedCard will impact your 5/24 status either – getting a debit RedCard will do the trick. You’ll also get $40 off when spending $40 if you apply by July 17, so if you’re a big spender at Target then that’s certainly worth considering.
The Target RedCard offers a 5% discount on third party gift cards, but sadly not on Target gift cards, so you can’t get 5% off from this gift card deal and an additional 5% off from the RedCard.
Another reason this deal isn’t too exciting is because many grocery stores sell Target gift cards. You could therefore buy them there and pay with a card that earns more at grocery stores to potentially earn rewards worth in excess of 5%. If your local grocery store offers some kind of loyalty program, that makes the deal even better.
For example, Kroger and its affiliate stores are offering 4x fuel points on all third party gift cards right now. That can save you up to 14% on gas, although that maximum amount is based on you being able to fill up with 35 gallons. Even if your vehicle only takes 13 gallons, you’d be saving 5.2% on gas based on whatever you spent on gift cards. That’s better savings than this Target gift card sale even before taking into account the rewards you would’ve earned on your credit card from buying those gift cards. There are therefore definitely better options for getting rewarded for buying Target gift cards without needing to save 5% from this sale.
However, I’m sure there’ll be some people for whom this’ll be useful nonetheless, so be sure to load the Target Circle offer to your account before buying the gift cards to ensure you get the discount.
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Would this code as online shopping on BAC cash reward card ? If yes, I am in.
I’m assuming it would seeing as it’ll show up as a Target.com purchase.
This will help towards MSR.
Wasn’t there a regular promo for 10% off Target GC’s in the past?
Yes, they tend to offer it the first week of December.
I do a ton of shopping at Target. So I just bought $500 + $25 in target gift cards with my Amex…stack with $25 cash back off $500. Net spend of $475 for $525 in gc I’ll use. Not bad sitting in my pjs.
I also see that, at least on my account, Target is offering a $10 Target gift card when you buy $100 in Apple gift cards. Using my RedCard gets me a $4.50 discount (apparently thy subtract the $10 Target gift card from the amount to be discounted), so I’m paying $95.50 to get a $100 Apple gift card and a $10 Target gift card. If you’re sure to use both, that’s a 13.18% discount on $110 worth of gift cards.
Yep, that’s a good offer too if you can make use of both cards. Just FYI, Target is now locking those $10 Target gift cards to the purchaser’s account, so if you were planning on reselling that, that’s not really an option anymore when doing deals like that online.
You do not get 5% discount on Red card for using a target gift card so your discount is overstated.
That’s correct, but in the example he gave he was buying an Apple gift card with a RedCard which does get the 5% discount.