And do you get an extra 5% for using your red card?
No additional 5% discount when purchasing target gift cards using your Target "red card". It was suggested that you use a different credit card offering reward points or "cash back" to purchase the target gift cards.
I'll for sure do a full $600 with those gcs, and I'm debating to do another $600 online with my account and DH's (or in store...) since we have Discover cards. So I'm getting at least $600 plus $20 in gas money for around $415 OOP (~67%) and might pick up more for the effective 14.5% off with Discover. I'm happy.