The Target Reloadable Redcard has been out for 5-6 months (for sure since Nov 2022) and works the same as a pre-paid Serve or Bluebird card. (In fact I think it's being run by the same company) If anyone remembers back in the day the Target prepaid card known as a 'REDbird' it's the same concept.
The difference here is that the Target RC Debit card requires a bank account to link to and when you make a purchase an EFT is initiated directly from your account to Target. It acts about the same as your bank debit card for that account - except that it's a debit card that only works for Target.
The Target RC Reloadable does not require a bank account. You have a few ways to load money onto the card, including a way to transfer from your bank account, but also cash reloads in-store or direct deposits. The money has to be available on the card before you make a purchase. Here's the website -
https://www.redcardreloadable.com/
This version is a Visa rather than an AmEx like their first time around. And this card you should be able to use anywhere Visa is accepted, it just gets extra benefits for Target purchases - like the 5% off and free shipping.
You can hold all 3 versions of the Target RedCard and all 3 get the promo coupons during sign up drives. However, if anyone was ever banned from Serve or Bluebird before, I believe that ban extends for this reloadable. For sure you can't reuse a username from Serve or Bluebird accounts.