Alright folks...
You gotta know when to hold'em
Know when to fold'em
Know when to walk away
Know when to run
Well today, I ran.
Cashed out.
Something spooked me today about the process. Yesterday I was all cool w it, I went to Target and converted $600 in store, no problemo, cashier rang it right up. Today, I got some more Target cards in the mail, so I was going to go convert
some... and it almost worked if it wasn't for those rotten kids... er... managers. Yep. Cashier didn't know if he could ring cards for cards, so he asked his mgr, she said no, no GCs for GCs. I explained to her how it works

that it's only Target cards and Prepaid Visas that do not apply, but she insisted. So she asked her other manager. They concurred, it was a no-go. What spooked me tho, is she said two magical words...
policy changed. Yep, she said it was a new policy that all Gift Cards could no longer be purchased with Gift cards, and that this was a new thing. So what that tells me, is that over the next few weeks, Target managers everywhere are going to be getting notice of the new policy, and in time, they will disseminate this info down to their employees. So I ran. Fast. And I didn't stop till I got to another Target, where I was relieved that the cashier just rang me up, $1800 of Disney GC goodness. Went home, had $750 more waiting for me, so I ran those right back to the same store to convert them. I really think we have a new policy. It is not a technical policy that blocks a transaction, but one that the managers should be passing down to the employees. This makes buying any GCs in store with Target GCs a definite case of YMMV. That is too risky for me, so I bailed. I have $700 or so left still coming in Target cards, and I'll keep these to play around with in the coming months and try some of the other tactics.
It was a great run though.
$5381 invested on my Amex has led to...
$6750 in my DVA
$135 coming from DVA 2%
$928 in EBates / MrRebates / EBucks eventually
$563 in value of goods acquired
$788 in Target Gift Cards
All up, $3783 in profit from $5381 invested over approximately 3 months. That's over 67% profit.

Now I'm starting over.