Get $40 off a $40 purchase by signing up for a Target RedCard debit or credit card

Jul 12, 2020

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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 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 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.

Featured image by Eduardo Munoz Alvarez/VIEWpress/Corbis via Getty Images

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