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Target is currently offering 5% off on e-gift card purchases up to $25 off of $500 per household. That’s not a terribly exciting deal on its own, but it would stack well with 5% back at Target via the Chase Freedom or Discover IT card Q4 bonus categories (which are each valid on up to $1500 in total purchases) as you’d end up with a net 9.75% off of face value (or do even better if you’re in the first year on a Discover IT card and still working on your cash back double for the year). Note that this is only valid Friday and Saturday 11/8 and 11/9.
The Deal
- Get 5% off on Target Mobile and e-Mail Gift Cards directly from Target (up to a max of $25 off of $500)
- Direct link to this promotion
Key Terms
- Valid through 11/9
- Max discount of $25 off of $500 per household
- Offer applies to email and mobile delivery of Target GiftCards only – not valid on physical cards
- Only valid on Target gift cards (not 3rd party cards or Target Visa Gift Cards, etc)
Quick Thoughts
As noted at the top, 5% off on Target gift cards is a decent discount given you are buying direct rather than risking the secondary market. However, if you’re stacking with 5% back via Discover / Chase, the discount may certainly be appealing enough. Your net cost for a $500 gift card would be $451.25. While Discover is offering 5% back on Target this quarter, Chase is offering 5% back on PayPal purchases. I checked to make sure that PayPal could be used for Target.com email gift purchases, and it can:
If you aren’t sure that you’ll otherwise max out this quarter’s Chase Freedom or Discover IT bonus categories, this can be a good way to lock in the cash back with a discount you can use in a future quarter (just don’t forget to activate the bonus categories first — see this post for an activation link)
This can also be a decent way to work towards spending requirements if you are a regular Target shopper and you need to hit spend in the near future. With Black Friday sales coming and Target’s annual 20% off coupons on the horizon, locking in an extra discount now could stack on your savings later.
H/T: Doctor of Credit
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The last few years Target has had a 1-day sale right after Thanksgiving for 10% off gift cards. Chances that they’ll do it again? I would think that’s a better offer and would still stack with the Freedom and Discover bonuses.
Thank you! Freedom this quarter has been really tough for me since I can’t do Samsung Pay on my phone and I rarely find a Chase Pay at the places I go to.
Could one then use the $500 target gift to buy a $500 Disney gift card?
Doesn’t using Freedom card via PayPal incur credit card fee? How do you truly get 5x using a credit card via PayPal?
You only pay a credit card fee if you’re trying to send a person-to-person payment. You don’t pay a credit card fee when you are buying merchandise.