Yes but this would require 20- $50 gift cards or 10- $100 gift cards, if you can get them. Target blocked me at 3- $100's, but I was able to get 12- $50's later.
Have you done this? I got blocked at applying more than 4 EBay Redemption Codes to a single order. At $50 each, that limits you to $200 purchased at a time. That takes $2.99 for the first card and $.99 for each additional up to paying that $3.98 for every $200 worth. This costs another 1% approximately. And then I got capped on using that many Redemption codes on one Paypal account. I am hesitant to buy more until I see someone actually able to do this en masse.
That EBay limit is what worries me because I don't want to get stuck with EBay redemption codes I can't cash in on Target cards. I'm interested to hear what other ppl are finding when they try to do this on a larger scale.