Target Prepaid Redcard update

Last month I was so busy I did not get a chance to try out more Target branches to see if they would reload my Target Prepaid Redcard. On Tuesday when my fiancée and I went to visit our wedding site, I stopped by the branch in Hackensack, NJ to see how it would go there. When I arrived, i asked to load both cards that I have (my own and my fiancées) with no luck – the customer service rep said that I could only load $1000 on one card per day. I pushed back a bit and said that at some point I had had a rep who loaded $2500 with one swipe (by inputting $1000, then another $1000, then $500 into the system). She asked one of her coworkers who said this used to be possible but no longer.

So, in the end, I only loaded $1000 on one card and promptly used it to pay off the credit card bill.

Then, yesterday, I was at the Target in Atlantic Terminal and thought I would try again for myself to see if their policies had changed (my friend had gone there two months ago and found out they only load with debit cards now). It turns out my friend was still accurate because that branch has its own special policy with these things. Shame.

So, now I need to either visit the Target in South Brooklyn where there are reports of letting $1000 per day on each account or continue finding other branches to visit worldwide.

Updates on Target Prepaid REDcard (some restrictions!)

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Over the weekend a friend of mine went back to the same Target store that I have been going to for the past three months in an attempt to use his new Target Prepaid REDcard to make some quick points.

Unfortunately, he was told two things that devastated us:

1) All loading of REDcards must be conducted under the supervision of a manager

2) Loading of REDcards may no longer be done using a credit card.

You can imagine how this might upset us.

We were a bit concerned so I did some research on the usual sites (Flyertalk, Frequent Miler, etc) and discovered it was still working for most people.  As it turns out, some stores are beginning to get wise to the credit card usage. It’s unclear as of yet the reason why, but there are reports of Target stores disallowing this feature:

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For us, though, there is a happy ending (for now). I visited the other Target store in Brooklyn and was able to load with a credit card just fine. I did have to authorize a new payment with the bank (Chase, in this case) since it was a new location. But once that was complete, it went through just fine. I may return tomorrow for more!

Chase Ink Plus 60,000 signup bonus offer

Many other sources have linked to this so I do not feel the need to go into depth.

The Chase Ink Plus credit card is a great card if you want to get the following:

1) a great signup bonus (usually it’s 50,000 points – here it is 60,000)

2) lots of points earning potential at office supply stores (5x), gas stations (2x), and hotels (2x)

3) no reporting on your credit (since it’s a business card, it remains separate)

It has many of the other features credit cards have nowadays including no foreign transaction fees as well.

There is a $0 fee the first year, $95 annual fee every year after.

I have one of these cards and use it a lot for getting gift cards at Staples to churn through the Target Prepaid Redcard.

Buy $300 worth of Visa Gift Cards from Staples and get $20 gift card as a rebate

Since posted this today, I’m just going to copy and paste and cite his link here.

Buy $300 In Visa Gift Cards From Staples And Get A Free $20 Visa Gift Card Via Easy Rebate

If you buy $300+ in Visa gift cards from Staples between 01/04 and 01/10 you can send in an Easy Rebate online to get a bonus $20 Visa gift card.

This is valid in-store only.  Officially there is a limit of 1 rebate per household.

If you buy 2 $200 Visa gift card in store you’ll pay $13.90 in card fees. Use your Chase Ink Plus or Chase Ink Cash card and get 5 points per dollar spent. That’s 2,070 points for a $413.90 purchase.  Plus you’ll get the $20 Visa card via Easy Rebate to bring your cost basis down to $393.90 without accounting for the points.

Even without the Staples gift card the argument can be made to buy gift cards from Staples for your everyday spending.

Say you spend $2,000 on everyday spend.  On a typical card earning points or cash back worth 2% you would save $40.

If you bought $2,000 in Visa gift cards for $2,069.50 you’ll earn 10,348 points that are worth $181.09 at a 1.75 cents per point value.  After backing out the $69.50 it cost to buy those gift cards you’ll still left with a $111.59 profit, or about triple the rewards you would earn from other cards.  It’s an effective rebate of 5.58% everywhere you shop.

Even if you only value the points at 1.6 cents each that would value the 10,348 points at $165.57, leaving a profit of $96.07 or an effective rebate of 4.8% everywhere.

Want to just cash out the Visa gift card instead of using it for everyday purchases?

The pin on the Visa gift card is the last 4 digits of the card number, no need to set anything.
-You can load up to $5,000 per month onto a Target AMEX REDCard for free.
-You can cash out the Visa cards using EvolveMoney to pay bills like your mortgage, property tax, auto loan, health insurance, store charge card (Gap, Macy’s, Target, etc).  There is no fee for this but you can only make 1 payment per biller per month month.
-You can load Visa cards to your Serve card with a Family Dollar cashier for no fee (though some stores won’t do this)
-You can load Visa cards to your Bluebird or Serve card at a WalMart ATM machine for no fee.
-You can load Visa cards to your Bluebird or Serve card with a WalMart cashier or customer service for no fee.  Just say you want to use your debit card, no need to mention that it’s a gift card.
-You can buy a money order with the Visa card at any store that accepts debit cards as payment (except the post office).  Such stores exist even in manufactured spend deserts like NYC.
-You can pay your credit card bill at WalMart with BillPay at Customer Service.
-You can swipe the card on an Amazon card reader for a 1.75% fee.
-You can gift a Visa gift card as a wedding gift instead of giving a check.
-You can… ;)

HT: Moe’s Tavern, via DDF

How to use the Target Prepaid Redcard

After buying our temporary Target Prepaid Redcards from the branch outside of Providence, RI last weekend, we have since received our permanent cards (with our names on them, to boot!). For the first experiment, I confirmed that we can pay our credit card bills back using the money loaded onto the Redcard account.

When we first purchased the cards, I put $100 on each account as I am still new to manufactured spending and hesitate to dive all the way in. When looking at the account online, it notes the transaction here:

Screen Shot 2014-12-06 at 9.47.40 AMWhen looking at my credit cards statement for my Chase Sapphire Preferred card, I saw the same transaction with the $5 opening fee, noting the points earned in the transaction.

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One I received our permanent cards, I was allowed to go to the online Bill Pay section and submit the same credit card as an option and submit the payment.

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The record then shows up as paid on the Target Prepaid transaction log like this:

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Finally, I checked my online Chase account to view the transaction there. It took about 5 days to post:

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Overall, this will be a very lucrative use of time as every month we can max out each Prepaid card to the tune of $5000 each, meaning we will earn 10,000 points per month with this method. If we decide it’s worthwhile, I may even use my Ink Plus card to purchase Visa Gift Cards at staples to get the 5X multiplier, earning 50,000 points per month in the end. Granted, that will cost about $250 in fees, but may be worth it for certain ticket purchases.