Target RedCard Bonus Devaluation
The popular Target RedCard bonus offer is back but it has some changes this time around. One thing we know for sure isn't good, but the other change I am just assuming it isn't good at this point. This is a deal that has been going on for years now, and has been pretty lucrative for those that play the game, but Target may have leveled the playing field a bit with a Target RedCard bonus devaluation. If you want to know all about the deal and some FAQ on everything then check out our post on the RedCard sign up bonus. I'll update this post completely when we know for sure what is going on.
Updated 9/11/23: with new terms on the latest offer.
Two Notable Changes
There are two notable changes that we need to discuss in detail this time around.
Target RedCard Reloadable Has A Different Bonus Set Up
Here are the terms / process for the Reloadable card:
To receive a $40 statement credit for the RedCard Reloadable Account, you must successfully register online at redcardreloadable.com for a new account 9/3/23-10/14/23, then activate the permanent card once received in the mail and spend $40 (net of reversals/returns) at Target (“$40 transaction”) within 45 days of registration. The statement credit will be posted to the account within 30 days of the $40 transaction. The $40 transaction must occur in one transaction at a Target location or at target.com; if you get cash back at the register during your purchase, the transaction will not qualify for this promotion. Limit one (1) $40 credit per customer. Offer does not apply to RedCard Credit or Debit products and is subject to change or cancellation at any time.
This one isn't an instant coupon in your Target Circle App like the debit card is.
The Coupon Terms Have Changed & That Negate Some Value
Here are some notable changes in the RedCard coupon terms:
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.
This part is what really kills the outsized value we used to get. You used to get a coupon that had a code for online purchases and one for instore purchases. Both were unique codes, so you could use them twice for $80 off $80 essentially. With the new set up it is a coupon in your Target Circle account so it can track your usage better and it disappears once used in store, or online.
Target RedCard Bonus Devaluation: ToP Thoughts
The Target RedCard bonus devaluation was bound to come at some point, although I was hoping it would last a bit longer. I did think they would eventually find a way to block the double dip and they were craftier about than I would have expected. If you don't mind the deal only being worth $40 potentially, instead of the $80 double dip, then you can still go for it. You should hopefully be able to get each every 6 to 12 months. Having said that, I assume some won't think it is worth the effort any more.