15
Oct
2010

Target Update: RedCard and Coupon Update

10/15/2010. This post may contain affiliate links. Read my Disclosure Policy.

I have two new updates for you on the Target front.

This was supposed to start 10/17 but it has already launched in some stores so I’d love to hear from any of you that are already taking advantage!

Target is now offering 5% off your purchases when you use a Target Debit or a Target Credit Card.  I have never had a Target credit card, but I understand this replaces the former system they had which offered a one time 10% off coupon.

So this is a better deal if you already have one of these cards.  The 5% off is after coupons and it will be reflected after you swipe your card.

One thing I want to mention is that before you sign up for a credit card- these store cards have outrageous fees.  It looks like the best case scenario is 13% interest and there is $35 late fee.  So for me, even though the credit card is enticing just one late fee would negate several months worth of savings from the additional discount. You can read more about the Target Redcard here.  So I would be very careful of getting any credit cards- especially since 5% is really not a huge savings after coupons for many people. There is another option, the Target debit card will take money out of your existing bank account.  You can also withdraw up to $40 cash at a time.  You can read more about the Target Redcard debit card here.

There are some pharmacy benefits as well.  If you enroll in the program, you will earn a 5% reward with every 5 prescriptions paid for with your Target Redcard.  You can read more about the Target Redcard Pharmacy Rewards here.

So again, this is supposed to roll out on October 17th, but some stores have already started to offer these benefits.

And if you are like me and want to see things spelled out for you.  If you spend an average of $20 a week at Target stores after coupons, your savings will look like this:

$20 per week x 52 weeks= $1040
5% of that value is $52.00

So you will have saved an extra $52 in a year.

***
Also, readers Mindy and Michelle passed on yet another news story about the Target not honoring the full value of coupons issue..  If you missed this the last time I posted, I just wanted to pass this quick clip along so you can be on the lookout.

There is a news piece here from CBS Philadelphia. Once again, I have to say my love affair with Target has waned over all this mess.  Nothing makes me angrier than taking the time to organize coupons, plan your trips and head out only to have them cheat you out of the full value of your coupon.  So be sure you are paying attention when you checkout because they should correct it immediately.

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