Target redcard limit for new account?

[Snurk71]

Does anyone know what the credit limit would be on a new account? I'm making a run on the Disney giftcards and plan to buy about $10K worth (DVC dues, cruise, trip to DL, trip to WDW). I have the available credit on my Disney Visa, but if I can get an additional 4% ($400 off $10K), I would open an account.

Thanks

 

[marsh0013]

It's a debit card, mine is linked to my checking account. Not sure if they limit you as long as you have the money in the bank. I spent $432 on mine last Saturday with no issues (9 x $48 transactions between 2 different Targets) with no issue, but that's a lot less than you're looking at doing.

edit to add: Have you checked to see if your Targets have that many gift cards available? Stock could be an issue. And man, that's a lot of transactions you're going to have to do! Lots of time, but believe me, I understand the savings is worth it. (I"m assuming you're using the $10 gift card coupon as well)

 

[Snurk71]

It's a debit card, mine is linked to my checking account. Not sure if they limit you as long as you have the money in the bank. I spent $432 on mine last Saturday with no issues (9 x $48 transactions between 2 different Targets) with no issue, but that's a lot less than you're looking at doing.

Ahhh, a debit card. I called the store and it sounds like I might be able to accomplish the purchase with a debit red card. If it drains my checking account before a transfer goes through (since it's a non-banking day), I have overdraft protection to fund it from other accounts.

edit to add: Have you checked to see if your Targets have that many gift cards available? Stock could be an issue. And man, that's a lot of transactions you're going to have to do! Lots of time, but believe me, I understand the savings is worth it. (I"m assuming you're using the $10 gift card coupon as well)

I bought $1,000 worth last night without a red card, and did a quick estimate of the lanes - looked like there was at least $10K in cards (our local store is loaded). And yes, I am taking advantage of the $10 off $50. I found an agreeable cashier last night, and she's working again today (I'll be going through her lane for sure).

I have $2,500 in DVC MFs due in Jan, a DL trip in March, WDW in June, and a cruise booked for spring 2014. So I was going to pay Disney $10K anyway, better to only effectively pay them $7,500 with the coupon and discount.

 

[StitchesGr8Fan]

You can also get a target credit card that does the 5% off.

 

[Swimalie]

You can also get a target credit card that does the 5% off.

Yes. This is what I have, the credit card, not debit. Ask for the credit card and you shouldn't have a problem with your checking account being drained.

 

[cats mom]

You can choose to get a debit card or a credit card.

I don't think your temporary limit is going to be anywhere near $10,000 on a new REDcard account though. I'd guess closer to $1,000 if you have stellar credit, but that's just a guess.

Some stores must be much more lenient than others!

I got shot down trying to use 2 coupons, and DD was with me and we were willing to split our order, so technically we were following the 1 coupon per guest and transaction terms. But I would have been paying for both transactions, so the clerk said no go.

I can't imagine being able to use the coupon to purchase $10,000 worth of gift cards without getting called on the terms at some point.

 

[Snurk71]

Well, I got too greedy trying to make my mass purchase today. I went to the same cashier as last night and she rang through about $400 in cards - and then the manager came over and said one coupon per customer. In hindsight, I probably should have done one batch of 4 - and moved on for 20 minutes or so before doing another batch of 4.

I did pick up a couple more - bought one back in electronics and another on my way out with a different cashier. But that was it for this morning.

Back to the drawing board on how to stock up - may be going back to the store every couple hours and try to hit 4-5 different cashiers each trip. I'm probably going to get banned from the store. Good thing I don't regularly shop there.

 

[VLee]

Got a new Red card (credit) last week and my temporary limit was $3,000 so I actually bought this much in Disney gift cards and then immediately made a cash payment to cover the charges to the Target Service desk. However, it was almost 24 hrs or longer before the payment showed as being posted.

After having so many separate $38 transactions, their system put an alert and said that I had reached the maximum number of Target card transactions in one day, so had to return later.

Anyway, got about 6 more today--now have enough to pay my DVC dues, plus some extra for spending in January and May. This will be great in addition to my PAP and TIW 20% discounts!

 

[plummer925]

While I understand saving money, I think this is just plain wrong. The terms are one per person. It is essentially stealing if you are using more than one. You even said you'll likely get banned from the store. That just makes no sense to me. I do not hold myself to ridiculous morals, but I certainly do not steal, and this is essentially what is happening...

 

[marmalade]

I am all for saving a buck, but this seems silly to me. You can afford $10,000 in gift cards but you are willing to waste your time going to the store multiple times and multiple cashiers to save 4%. All while saying you will probably get banned?

 

[DizneyDogs]

I am all for saving a buck, but this seems silly to me. You can afford $10,000 in gift cards but you are willing to waste your time going to the store multiple times and multiple cashiers to save 4%. All while saying you will probably get banned?

She would actually be saving 25% with the 5% credit card discount and the 20% coupon - the coupon states 1 coupon per person per transaction so she can buy that many within the rules as long as Target agrees to do multiple transactions

 

[marmalade]

She would actually be saving 25% with the 5% credit card discount and the 20% coupon - the coupon states 1 coupon per person per transaction so she can buy that many within the rules as long as Target agrees to do multiple transactions

Gotcha! I wasn't really paying attention while I was reading, and I was just skimming through the posts. That makes more sense and I understand why she would want to do it this way.

 

[cats mom]

She would actually be saving 25% with the 5% credit card discount and the 20% coupon - the coupon states 1 coupon per person per transaction so she can buy that many within the rules as long as Target agrees to do multiple transactions

It's a moot point now since the coupon has expired, but the actual wording was: 1 coupon per person and per transaction. The "and" makes a big difference.

Per the terms the intent was one coupon per person, not 200 coupons, which is what the OP would have needed in order to get $10,000 dollars worth of Disney gift cards with the deal.

Of course the arguement could be made that the powers that be at Target expected, and possibly even welcomed, some level of abuse. I'm guessing that's been discussed at some point on just about every thread about the deal.

There's some speculation that there may be one more weekend of this deal, although possibly with a higher purchase requirement. It will be interesting to see.

 

[plummer925]

Okay - I'm not a tad confused. If it's a PERCENTAGE off, not a DOLLAR amount off, why not just buy ONE huge gift card, or if they are limited to certain dollar amounts, get 10 $1000 cards. Then it would be 10 transactions instead of dozens and dozens...

 

[Donnainnj]

Okay - I'm not a tad confused. If it's a PERCENTAGE off, not a DOLLAR amount off, why not just buy ONE huge gift card, or if they are limited to certain dollar amounts, get 10 $1000 cards. Then it would be 10 transactions instead of dozens and dozens...

It was Get a $10 target gift card with a $50 or more purchase

 

[plummer925]

It was Get a $10 target gift card with a $50 or more purchase

Oh - okay - that makes more sense - someone had said 20% (which is, of course, $10 off $50) so I assumed it was a percentage. Thanks!

 

[Snurk71]

OP back here...

For anyone interested, I ended up with $3,800 in cards - I didn't make my $10K goal. I ran out of time with some other things going on.

And even though I can afford to buy $10K in gift cards, that doesn't mean I'm foolish with my money - I would actually say it's this kind of view that's helped put me in a position where I can afford to buy $10K in giftcards. I consider spending a fair amount of time at Target last Saturday time well invested to effectively make about $800. Assuming its a fairly similar deal next year, I'll be better prepared and will get to my $10K goal - as long as my store has that much in stock.