10% off Target Gift-Card Sale: Ways to Maximize Your Savings
We learned earlier today that Target will be bringing back a popular offer to get 10% off Target Gift-Cards. This sale will be on December 3, 2017 for one day only. Target has not publicly announced the sale, so the terms are uncertain, but they’ll probably be similar to the same sale they had last year. See our earlier post for more details on the sale.
Last year the limit was $300 per guest. There were many reports of people being able to get the discount more than once in store, however online you should avoid creating multiple accounts to get it more than once.
Purchase Strategy for Max Value
10% is an excellent discount for Target Gift Cards, but we can do better. The best way to purchase these cards is with a card that earns at least 5x cashback like the DiscoverIT (earns 5% 4th Quarter). If you’re lucky enough to be in your first year of the DiscoverIT card your cashback will be doubled to 10%. That works out to a 19% discount, which is awesome! If you were looking to buy discounted Target gift cards- the lowest available discount at the moment is 2.6%.
Use, Gift or Resell?
Using Your Gift Card
If you regularly shop Target, you can keep the cards and lock in a huge savings. The best stack I can think of is using these gift cards in conjunction with the 20% Coupon that many people received last week as part of a Black Friday promo. See here for more details. Depending on whether you choose to shop online or in-store, see below for further stacking ideas.
If you use the cards online, you can stack with cashback portals for another 5% (or so) cashback- for a savings on just about anything at Target of about 19-24%. When you consider that Target runs a lot of holiday deals and accepts manufacturer coupons in addition to store coupons- your savings could be much greater.
I searched cashbackmonitor.com for the best available cash back rate today and I found a portal offering 5% cashback as well as a coupon code for $7 off of a $70 order. You may even be able to stack this with a further promo code- careful though as it may invalidate your cashback.
If you’re shopping in-store, don’t forget to use the Target App and look for any Cartwheel offers and manufacturers coupons.
Reselling Your Gift Card
Depending on your reselling relationships you should be able to resell your gift cards around 89-92%. So long as you use a rewards card- you lock in a profit. Obviously the greater amount of cashback on the card you use, the better the profit. While this deal certainly won’t make you a millionaire it could be a great way to help you meet a minimum spend.
Gifting the Cards
You can buy the cards in any denominations Target offers, it seems like a good idea to me to get a bunch of $25 and $50 cards to give away as holiday gifts.
Conclusion
This is probably the highest possible discount I’ve ever seen at Target (excluding of course merchandise specific sales). I can’t think of a reason why someone wouldn’t want to take advantage unless you had no interest in shopping at Target and no way of earning more than 1 or 2%.
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[…] is a great deal and Bethany showed you a few days ago, in a more detailed post, a few ways to take advantage of it. It is great that it’s available online as well, you […]
[…] are limited to $300 in gift cards each. According to a comment from Mark at Miles to Memories on this post, last year Target zeroed out gift card balances and did not offer refunds for customers who tried […]
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Where are you able to get 89-92% back from reselling? On raise the most you can get is 88%… Doesn’t seem like a good opportunity for resell but I guess that depends on your relationships.
Is there a way around the $300 limit online? Why wouldn’t I try to create more than one account? Would this work?
It’s tempting but, I advise against it because you run the risk of being banned by Target.com
Hey Beth, Target is not considered dept under Citi dividen card right? Thanks!
Is there anyway to buy more than $300 worth online? Why wouldn’t I want to create more than one account?
Anyone they caught abusing the rules last year they zeroed out the gift cards without a refund. Not worth the hassle better to just go to a store.
Can you use the gift card to purchase 3rd party gcs?
I believe that Target doesn’t allow it, but it never hurts to try.
I don’t think the Target RedCard earns 5% on Target gift cards.
You are correct! Post updated. Thank you 🙂