While in Providence, RI for Thanksgiving, my fiancée and I took a trip to the local Milford, MA branch of Target to purchase our Target Prepaid Redcards. This new card allows potential manufactured spending in the $1000s per year.
Our plan is simple: every month we will go to our local Target branch with the Redcard and use a points-producing credit card to “load” money on it. Then, once the money has been processed, we will use the Redcard’s online bill pay feature to pay back the debt from the card we used. Since the monthly maximum is $5000, with the two cards we have we can earn at least 10,000 points of manufactured spending each month.
It is possible to earn more points, however, in a number of different ways:
1) If you have a credit card that earns more than 1 point per dollar spent. Some cards treat Target as a “grocery store” in their coding, allowing some cards that give 2x points some play here. Or you might have a card like the United Mileage Plus Club Card that earns 1.5x points on everything.
2) You might have a card that earns 5x points from an office supply store like staples or from a pharmacy like CVS in which case you could purchase debit gift cards (for a small fee) and loud up that way. For me, this might be lucrative enough as I can get a $200 gift card for $4.88. If I earn 1000 points, the cost becomes <0.5 cents per point purchased. We shall see.
We have not received our permanent cards just yet (they arrive in 7-10 business days) but we are excited.
If you want more particular information, visit the FlyerTalk forum page on this card.