topic Re: Target Mastercard Gets An Upgrade! in Credit Cards

New way to redeem rewards for Target MC

NoMoreE46 — Wed, 06 Oct 2021 19:46:52 GMT

Got this email today:

Target Mastercard Gets An Upgrade!

Rudy1 — Wed, 06 Oct 2021 23:41:25 GMT

Yesterday I got my Target Mastercard in the mail which was nice to see. I don't think I will swipe it outside of target unless i'm in an emergency. Today I got an email from them that said how much I earn 5%, 2%, 1%. I was confused about the upgrade to my mastercard because it didn't seem like anything changed then I read it. "Now you can redeem your available rewards any time for a Target GiftCard." I am very happy to hear this news. I have heard people complain about it for the mastercard and now they added this just in time. I may occasionally swipe it at dinner or at the pump but otherwise my redcard mastercard is still just a redcard for me!

Re: Target Mastercard Gets An Upgrade!

PandaGirl77 — Wed, 06 Oct 2021 23:50:40 GMT

@Rudy1 Cool beans. Had no idea but when I logged on there was an info screen on it. For those without a 3% or higher CB card for dining or gas it's a nice perk. Being limited to Target GC isn't too bad considering you can get most grocery and drugstore items there. I wonder if there's a threshold to get the GC.

Re: Target Mastercard Gets An Upgrade!

PandaGirl77 — Wed, 06 Oct 2021 23:53:07 GMT

Answered my own question 🤣 $10 minimum to redeem

Re: Target Mastercard Gets An Upgrade!

Rebuild2019 — Thu, 07 Oct 2021 00:36:26 GMT

Congratulations on your Target Mastercard.

Re: New way to redeem rewards for Target MC

Taurus22 — Thu, 07 Oct 2021 02:05:33 GMT

The only issue I immediately see is.....if you redeem your rewards for a Target gift card, then your next purchases with that gift card wouldn't receive the 5% cashback that you would otherwise receive by using the Redcard again.....but this is a reaction by someone not privvy to Target's reward structure. Maybe the gift card also applies a 5% instant rebate?

Re: New way to redeem rewards for Target MC

JNA1 — Thu, 07 Oct 2021 02:12:43 GMT

@Taurus22 wrote:
The only issue I immediately see is.....if you redeem your rewards for a Target gift card, then your next purchases with that gift card wouldn't receive the 5% cashback that you would otherwise receive by using the Redcard again.....but this is a reaction by someone not privvy to Target's reward structure. Maybe the gift card also applies a 5% instant rebate?

That's immediately the first thing I thought as well. It seems to be the same thing as folks that redeem cash back as cash and then spend the cash. I prefer to earn cashback, put it in a savings account, and use free money to pay credit card payments to pay for charges that I used to get even more cashback.

Yeah, I'm just greedy like that! 😂😉🤷‍♂️

Re: New way to redeem rewards for Target MC

Taurus22 — Thu, 07 Oct 2021 02:21:36 GMT

@JNA1 Yep, I've done the same thing up until now. Now I plan to dump all of my cashback into my 401k and let my "kindly returned to me" monies gain even higher interest.

Sounds like this is just an approach by Target to use the "gift card appeal" to save themselves some 5% cashback payouts. And they will....some people will likely jump on it....some people (who aren't cashback junkies like us) can't resist a "free giftcard".

Re: New way to redeem rewards for Target MC

SunriseEarth — Thu, 07 Oct 2021 05:16:14 GMT

I just wish they'd do more spend offers on this card. I really only use this outside Target for spend offers or if I need a MC with no FTF, so it's kinda rare.