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AmEx for Target: $400/week credit card ATM withdrawals for 1.3%+ in certain cities

AmEx for Target: $400/week credit card ATM withdrawals for 1.3%+ in certain cities

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Old Dec 7, 14, 10:52 am   -   Wikipost
Please read: This is a community-maintained wiki post containing the most important information from this thread. You may edit the Wiki once you have been on FT for 90 days and have made 90 posts.
 
Last edit by: weezl
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please be aware the Target breach cards are currently on the black market, as always be aware of activity on all accounts

Purchase in store. Each store seems to have just one lane that has them on display (unlike the AMEX GC which are at most lanes). Package is larger than other gift cards, silver and red.

Not available in all states. Search here for possible locations

Note: Unlike AMEX's restriction on BB/Serve/Redbird where one person can only hold one of those, you can have an AFT (2, actually) while holding a BB, Serve, or Redbird

Need DL to purchase.
Max 1 purchase per ss# per day--this means one person can actually have 2 AFT cards, which is why there is a $5000 total limit for 2 cards (see below).
Max initial load $500 + $3 load fee.

May reload temp card as soon as verification of identity is complete, may take 48 hours. You can use an ATM with a temp card as soon as you're able to view your temp card PIN online. If you're unable to view your PIN online, you won't be able to use an ATM until you have the permanent card, which takes about two weeks.

Many stores now limit reloading to the service desk, and no longer at cashiers. The card must be swiped at a cash terminal to reload, not scanned! Ask cashiers to try if they don't seem to recognize the card. Ask if loading at service desk is a policy, it might just be a knee-jerk response from cashiers that don't know about the card. I have been told that a few times, "You need to go to the Service Desk," it has never been true. Say please and thank you.

Limits & Fees
Loading
Codes as purchase on all cards.
Load fee $3
Max $1000 per card in 24 hour period.
Max $5000 total for both cards per 28 day rolling period.
May load any card *until* balance is $2500 for 28 day period (not *up to*)

System will allow a $1000 load on a card with a $2000 balance so long as you are under $5000 for all cards over 28 day period. See below for optimal load sequence, $15/$5k a month after 1st month and $15k in 65 days for new cards.

Unload via ATM
Max $400/card/day (resets sometime in the wee hours of the morning)
First ATM w/d per month per card is free, based on 1st of the month (not rolling)+ any ATM owner fee.
Additional ATM w/d fee $3 + ATM fee.

When asked 'from account' choose 'checking.'

Possibly helpful link:
Free and Low-Cost ATMs

Unload by purchases
No fee. No cash back.

Additional information

Optimal load pattern for least number of $3 fees after first $500 load is $3k/$2k.
New accounts can load $15k in 65 days. 4 trips in a week for new cards, 3 in a week once a month after that.

Load always means load $1000. 28 day load total in parenthesis. 'Dropped' means that load is past the 28 day mark.


Day 1: Purchase card #1, load $500
Day 3: Purchase card #2, load $500; Load card #1 ($1500)
Day 5: load card #1 ($2500); load card #2 ($1500)
Day 7: load card #2 ($2500)
*********************************wait************
Day 29: ($2000)($2500) day 1 dropped
Day 31: ($1000)($2000) day 3 dropped
Day 32: load card #1 ($2000) ; load card #2 ($3000)
Day 33: ($1000)($2000) day 5 dropped
Day 34: load card #1 ($2000); load card #2 ($3000)
Day 35: ($2000) ($2000) day 7 dropped
Day 36: load card #1 ($3000), ($2000)
*********************************wait************
Day 61: load both cards, day 32 dropped
Day 63: load both cards
Day 65: load one card.

Repeat Loads waiting 29 days between loads, if you loaded both cards 29 days ago load both now, if you loaded one card, load one now. So next load date is 61+29= Day 90

FAQ

Q: Will this show up as a CA?
A: No, Target is not a financial institution.

Q: Even with xxxx cards?
A: Yes, no cards will be charged a CA.

Q: Can I load with Visa/MC/Amex Gift Cards?
A: Yes. Also the balance can be detected and drained if you ask to load more than the value on a prepaid it will just prompt you to give a second payment form. Great for draining random balances.

Q: How about Target gift cards?
A: The register prompts not to allow Target gift cards. They may not be hard coded, though.

Q: Will I get 5% off if I load with a Target Red card?
A: No. Sorry, I wish.

Q: Can I load multiple cards in one transaction?
A: Yes. Up to 3 cards can be loaded in one transaction, but each card will be charged $3.

Q: Why load multiple accounts in one transaction?
A: to avoid multiple $1003 transactions on same CC in minutes. This may trigger a fraud alert.

Q:Is there a max number of payment swipes?
A: Yes. Maximum swipes for split payments is 7, though other users have reported being able to swipe at least 10 gift cards for payment without problems.

Q: Any reason not to load multiple cards in one transaction?
A: Yes, when you have multiple small value gift cards to unload because of 7 swipe limit.

Q: The title says withdrawals are 1.3%, is that true?
A: No. Do the math. I'm not very good at math. Under 1.3% includes Costco ATM fees. It is not possible to edit a thread title, the fees are lower due to the ATM limit now being $400.

Q: What are the lowest possible fees with a fee-free ATM available?
A: For 2 cards, each loaded with $2.5K each over 2 months ($10K in total), you would pay $30 in loading fees (10 load fees of $3 each) and $63 in ATM fees (25 total withdrawals, with 1 free withdrawal per card each month, resulting in 21 ATM fees of $3 each).


Official fund loading from T&C

You may load funds to your Cards using your Funding Source until the Available Funds on any Card purchased by you equals $2,500 and on all card purchased by you equals $5,000... Not more than $1,000 may be loaded to any Card purchased by you in a 24 hour period using your Funding Source, not more than $5,000 may be loaded to all Cards purchased by you in any 28-day period using your Funding Source.

IMPORTANT MESSAGE IF YOU LOADED YOUR PREPAID CARD AT TARGET DURING THE CHRISTMAS SECURITY BREACH: It is important to have AMEX reissue your cards (just phone the number on the card and ask for a new card). Thieves have the numbers and pins and can drain your account at any time. AMEX does not appear to be using software to block suspicious activity, so they can drain it all. If you loaded your prepaid card at Target between November 27 and December 15, 2013, you are at significant risk of having your money stolen (several reported cases in April and May).
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Old Apr 26, 14, 12:22 am
  #1531  
 
Join Date: Nov 2006
Programs: *S (TK), Hyatt Explorist, Hilton Diamond, AA Gold
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Didn't see it discussed in the last ~50 posts, so ask shall I.

Is it true that the only way to pay the CC that I used to fund AFT, with those funds from AFT, would be to withdraw from ATM, deposit to bank, and pay CC from bank? If so, any concern with withdrawing AND depositing $400 cash per day for ~12 days in a row? Or would it be better to deposit $5000 cash at once?
italdesign is offline  
Old Apr 27, 14, 12:35 am
  #1532  
 
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Any thoughts/pointers?

Originally Posted by italdesign View Post
Didn't see it discussed in the last ~50 posts, so ask shall I.

Is it true that the only way to pay the CC that I used to fund AFT, with those funds from AFT, would be to withdraw from ATM, deposit to bank, and pay CC from bank? If so, any concern with withdrawing AND depositing $400 cash per day for ~12 days in a row? Or would it be better to deposit $5000 cash at once?
italdesign is offline  
Old Apr 27, 14, 1:35 am
  #1533  
 
Join Date: Feb 2013
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Originally Posted by sosamo View Post
I am in SoCal, anybody with tips let me know also

p.s. my costco don't have an ATM machine.
Are you sure....
Off the top of my head, the 5 I go to all have it either near the customer service (returns) line or somewhere near the inside food court.

Which one are you closest to?
nakataboi is offline  
Old Apr 27, 14, 10:14 am
  #1534  
 
Join Date: Nov 2013
Location: Sacramento, CA
Posts: 424
Originally Posted by italdesign View Post
Didn't see it discussed in the last ~50 posts, so ask shall I.

Is it true that the only way to pay the CC that I used to fund AFT, with those funds from AFT, would be to withdraw from ATM, deposit to bank, and pay CC from bank? If so, any concern with withdrawing AND depositing $400 cash per day for ~12 days in a row? Or would it be better to deposit $5000 cash at once?
1) Holding $5000 in cash in dangerous, I don't recommend it
2) Depositing $5000 in cash at once may trigger SARs filing.

Because of the above, I would deposit in smaller amounts.
vinhboy is offline  
Old Apr 27, 14, 11:30 am
  #1535  
 
Join Date: Jan 2014
Posts: 565
Originally Posted by vinhboy View Post
1) Holding $5000 in cash in dangerous, I don't recommend it
2) Depositing $5000 in cash at once may trigger SARs filing.

Because of the above, I would deposit in smaller amounts.
Be careful with that advice. Depositing large cash amounts may trigger reporting requirements, but if you have backup data and valid income, nothing to worry about.

If you deposit in smaller amounts to avoid this reporting, you are actually breaking the law. See: http://en.wikipedia.org/wiki/Structuring
Lumpylump76 is offline  
Old Apr 27, 14, 11:49 am
  #1536  
 
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Originally Posted by Lumpylump76 View Post
If you deposit in smaller amounts to avoid this reporting, you are actually breaking the law. See: http://en.wikipedia.org/wiki/Structuring
True but that wouldn't be the reason for the smaller deposits in this case (the reason being we're limited by the max withdraw per day). Since the intent isn't to structure, I'm not worried about that. However, I am concerned about the bank potentially shutting me down due to their internal policy. Would they shut me down over $400 cash/day x 12 days in a row? I'm not sure and any data point/thoughts would be helpful.

Thanks.
italdesign is offline  
Old Apr 27, 14, 3:26 pm
  #1537  
 
Join Date: Apr 2012
Location: Austin TX
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Bill pay at Walmart with cash is another option.
Haleyb is offline  
Old Apr 27, 14, 3:33 pm
  #1538  
 
Join Date: Aug 2011
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AmEx for Target: $400/week credit card ATM withdrawals for 1.3%+ in certain cities

My work place has a fee free ATM but it's limited to $300.

After the first withdrawal monthly, to empty out $1k still takes $9.67. $3 + $2 * 3.33. I guess this would be better than OV.
savekenny is offline  
Old Apr 27, 14, 3:44 pm
  #1539  
 
Join Date: Apr 2012
Location: Austin TX
Posts: 274
I also sometimes buy $500 Visa Gift Cards for $4.95. It is slightly more in fees but saves a Costco trip. I don't do the $5.95 ones unless there is a 'deal' on them.

Right now at Safeway and all the related stores, Tom Thumb, Randell's and so on, you can get a $10 off next purchase coupon when you buy a $100 Am Ex gift card. Buy $100 AmEx and $500 Visa GC, pay $11.90 in fees. On next purchase throw in a few groceries you need and use the $10 off.

11.90 fees first purchase of $600
1.90 fees second $600
1.90 fees third $600
1.90 fees fourth $600

$17.60 in fees to unload $2400 and the cost per $1 goes down the more you do it. But those $100 AmEx gift cards are a pain to use. Last month the same deal was for MC GC and so I did more of it. So I'll do this four times, with weekly grocery shopping.

Almost any of the methods to lower costs on MS apply to unloading the card.
Haleyb is offline  
Old Apr 27, 14, 4:00 pm
  #1540  
 
Join Date: Apr 2012
Location: Austin TX
Posts: 274
Originally Posted by italdesign View Post
True but that wouldn't be the reason for the smaller deposits in this case (the reason being we're limited by the max withdraw per day). Since the intent isn't to structure, I'm not worried about that. However, I am concerned about the bank potentially shutting me down due to their internal policy. Would they shut me down over $400 cash/day x 12 days in a row? I'm not sure and any data point/thoughts would be helpful.

Thanks.
Open a couple of free checking accounts at other banks. I would not risk my primary bank account.
Haleyb is offline  
Old Apr 28, 14, 12:16 pm
  #1541  
 
Join Date: Feb 2014
Posts: 908
Question. I visited an ATM machine for the first time today. When it ask you which account to withdraw from:
Checking
Saving
Credit Card

What do you choose?
sosamo is offline  
Old Apr 28, 14, 12:20 pm
  #1542  
 
Join Date: Jun 2013
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Originally Posted by sosamo View Post
Question. I visited an ATM machine for the first time today. When it ask you which account to withdraw from:
Checking
Saving
Credit Card

What do you choose?
checking works fine for me
raccah is offline  
Old Apr 28, 14, 12:29 pm
  #1543  
 
Join Date: Feb 2014
Posts: 908
Originally Posted by nakataboi View Post
Are you sure....
Off the top of my head, the 5 I go to all have it either near the customer service (returns) line or somewhere near the inside food court.

Which one are you closest to?
The Costco I go to is in the City of Industry, CA. This one, the food court is outside, not inside the Costco.
sosamo is offline  
Old Apr 28, 14, 5:06 pm
  #1544  
 
Join Date: Feb 2014
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Nvm. the Costco does have an ATM machine
sosamo is offline  
Old Apr 28, 14, 7:28 pm
  #1545  
 
Join Date: Feb 2014
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Originally Posted by sosamo View Post
Nvm. the Costco does have an ATM machine
I've never seen an automated teller machine machine.
exarkun is offline  

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