Get $40 off a $40 purchase by signing up for a Target RedCard debit or credit card
Update: Some offers mentioned below are no longer available.
Here at TPG we generally advise against opening up store-specific credit cards, as they tend to offer inferior rewards and welcome bonuses. However, if you shop enough at the same store it might be worth running the numbers to see if a certain card makes sense for you, and the Target RedCard is a great choice.
Doctor of Credit is reporting that you can now earn $40 off a future $40 purchase when you sign up and are approved for either the credit or debit version of the Target RedCard. There's no direct link for this offer, but you can find it at the end of this week's Target circular or by going to Target.com/redcard. This offer is only valid from July 12 to July 26, 2020.
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Given that the debit and credit versions of the RedCard are nearly identical, I would recommend picking the debit option if you plan on pursuing this offer. Both cards offer 5% off in Target stores and at Target.com. The only real difference is that one is a credit card and the other is a debit card.
As the coronavirus pandemic continues to reshape consumer spending patterns across the world, people are focusing on the basics and on consolidating their shopping trips. That's good news for a store like Target, which lets you shop for groceries, clothes and household supplies all under the same roof.
Related: Contactless pay and 5% off: Why the Target debit REDcard makes sense for me during a quarantine
We rarely see strong rewards on debit cards, and the Target RedCard is a notable exception in this category. If you frequently shop at Target, 5% off your purchases can add up quickly.
Bottom line
No annual fee and 5% cash back at Target help make the RedCard one of the most rewarding debit cards on the market. While a $40 discount isn't the highest welcome offer you can find, it's a very solid deal for a no annual fee card. The ability to earn solid rewards and a welcome bonus on a debit card are also unique, as you don't need to waste a credit inquiry in order to start earning rewards if you opt for the debit card instead of the credit card.
Top offers from our partners
How we chose these cards
TPG featured card
Rewards
| 10X | Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel |
| 5X | 5X miles on flights booked through Capital One Travel. |
| 2X | 2 Miles per dollar on every purchase, every day |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
The Capital One Venture X card is one of the best all-round travel credit cards ever launched. Not only is it offering a tremendous welcome bonus, but cardholders can earn tons of miles on everyday spending and receive a 10,000-mile anniversary bonus to boot. Its annual fee is $395, but cardholders can count on up to $300 in statement credits toward travel booked through Capital One Travel each year and other valuable benefits like access to Priority Pass lounges and Capital One’s own growing family of airport lounges.Pros
- Excellent welcome offer worth 75,000 miles after you spend $4,000 on purchases in the first three months.
- Up to $300 in annual travel statement credits toward bookings make through Capital One Travel.
- 10,000 bonus miles (worth $100 toward travel) each account anniversary.
Cons
- The $395 annual fee might be expensive for some, but this card’s benefits provide much more value than that.
- If you don’t travel frequently, this might not be the best card for you.
- Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
- Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options
- Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases
- Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
- Receive up to a $100 credit for Global Entry or TSA PreCheck®
- Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
- Named editors' choice for "Best New Credit Card of 2021" by The Points Guy
- Earn 10 miles per dollar when you book on Turo, the world's largest car sharing marketplace, through May 16, 2023
Rewards Rate
| 10X | Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel |
| 5X | 5X miles on flights booked through Capital One Travel. |
| 2X | 2 Miles per dollar on every purchase, every day |
Intro Offer
Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel75,000 bonus milesAnnual Fee
$395Recommended Credit
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.740-850Excellent
Why We Chose It
The Capital One Venture X card is one of the best all-round travel credit cards ever launched. Not only is it offering a tremendous welcome bonus, but cardholders can earn tons of miles on everyday spending and receive a 10,000-mile anniversary bonus to boot. Its annual fee is $395, but cardholders can count on up to $300 in statement credits toward travel booked through Capital One Travel each year and other valuable benefits like access to Priority Pass lounges and Capital One’s own growing family of airport lounges.Pros
- Excellent welcome offer worth 75,000 miles after you spend $4,000 on purchases in the first three months.
- Up to $300 in annual travel statement credits toward bookings make through Capital One Travel.
- 10,000 bonus miles (worth $100 toward travel) each account anniversary.
Cons
- The $395 annual fee might be expensive for some, but this card’s benefits provide much more value than that.
- If you don’t travel frequently, this might not be the best card for you.
- Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
- Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options
- Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases
- Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
- Receive up to a $100 credit for Global Entry or TSA PreCheck®
- Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
- Named editors' choice for "Best New Credit Card of 2021" by The Points Guy
- Earn 10 miles per dollar when you book on Turo, the world's largest car sharing marketplace, through May 16, 2023