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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 5, 13, 1:19 pm
  #781  
 
Join Date: Mar 2006
Location: Chicago
Programs: Mileage Plus, Rapid Rewards
Posts: 948
Since you get one free ATM withdrawal a month of up to $400, it's free to withdraw money, albeit slowly.
CMHFlyerOH is offline  
Old Apr 5, 13, 1:21 pm
  #782  
 
Join Date: Mar 2013
Location: Down South, The Desert
Programs: Marriot Rewards, Southwest Rapid rewards, Emerald Club, Avis Preferred
Posts: 1,871
Originally Posted by nep301 View Post
These cards are great for liquidating visa/mc gift cards. Its mostly not worth it to load with credit card unless you are meeting minimum spend.
So, with today's news about gift cards and pins, this product becomes relevant again.
TheDapperDon is offline  
Old Apr 5, 13, 1:47 pm
  #783  
 
Join Date: Jan 2008
Location: ATL/LAX
Posts: 4,868
One could say that with the higher price, it keeps this technique more sustainable.
amolkold is offline  
Old Apr 5, 13, 2:03 pm
  #784  
 
Join Date: Dec 2005
Location: Washington, DC
Programs: BAEC Blue, Priority Club Platinum, SPG Gold, Hilton Gold
Posts: 1,716
Originally Posted by CMHFlyerOH View Post
Since you get one free ATM withdrawal a month of up to $400, it's free to withdraw money, albeit slowly.
Yes but the ATM you withdraw from charges a fee, in my area usually this is $3.00. So it's $3.00 to withdraw.
terpfan101 is offline  
Old Apr 5, 13, 4:00 pm
  #785  
 
Join Date: May 2011
Location: Ann Arbor
Programs: Delta GM, Hilton
Posts: 192
Originally Posted by terpfan101 View Post
Yes but the ATM you withdraw from charges a fee, in my area usually this is $3.00. So it's $3.00 to withdraw.
The costcos around me charge $1.25 atm fee
nep301 is offline  
Old Apr 5, 13, 5:06 pm
  #786  
 
Join Date: Mar 2013
Location: BOS
Programs: SPG,United,Delta,AA,Marriott Silver
Posts: 45
AmEx for Target: $400/week credit card ATM withdrawals for 1.3%+ in certain cities

I think this is the calculation everyone is interested about this card:

Buy 10 Visa Gift cards - $2,069.5
Actual Cost - $69.5
Get 5x bonus - 10,348 points
Actual Benefit - $103.48
Cost to Load & Liquidate - $18
Net Benefit - $103.48-$69.5-$18 = $15.98

Edit:

Or Cent per Mile/Point - 0.85 vs. 0.79 for VR

Last edited by maijojacob; Apr 5, 13 at 8:34 pm Reason: added cent per mile/point
maijojacob is offline  
Old Apr 5, 13, 6:45 pm
  #787  
 
Join Date: Dec 2003
Location: CA
Programs: BA, AA, United
Posts: 421
The assumption of 1cent per point is very low. Even if you transfer the UR points to SW, it is 1.9 cents / point. For United business class tickets, the points could be worth 3cents or more.


Originally Posted by maijojacob View Post
I think this is the calculation everyone is interested about this card:

Buy 10 Visa Gift cards - $2,069.5
Actual Cost - $69.5
Get 5x bonus - 10,348 points
Actual Benefit - $103.48
Cost to Load & Liquidate - $18
Net Benefit - $103.48-$69.5-$18 = $15.98
rambo is offline  
Old Apr 5, 13, 9:44 pm
  #788  
 
Join Date: Jan 2010
Posts: 33
I decided to jump in on this deal....went to a store that was listed to have the cards and I couldn't find them.

I searched every register and looked for a giftcard station in the store to no avail. Where have you guys been finding these? I live in DE and went to the Target in Glen Mills,PA. Anyone in the area know of a target that has these for sure?
kingdeuceoff is offline  
Old Apr 6, 13, 9:05 am
  #789  
 
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 7,756
Originally Posted by terpfan101 View Post
Is anyone else finding this card not really that worthwhile? I've loaded $500 twice and still have a little over $500 sitting on my card. Have had it there for a month waiting to cash out on AP when I don't have other min spends to meet. The main reason I used it was for Amex cards min spends to avoid having many large drugstore purchases. Just seems like its too expensive to withdraw cash
Why load $500 twice? That just means you pay $3 x2.

And if your eventual destination is AP, why not go there directly?
josephstern is offline  
Old Apr 6, 13, 11:01 am
  #790  
 
Join Date: Jul 2006
Posts: 984
Originally Posted by josephstern View Post
Why load $500 twice? That just means you pay $3 x2.

And if your eventual destination is AP, why not go there directly?
I think the "cardinals" come a knocking when you use AP with AMEX. He probably had a $1000 min spend. If I were him at that point I would've done $500 initial load, taken $400 out(max limit per day), then with the $100 balance added another $700 instead of $500. With the $500 + $500 load and $800 withdrawal he still has $200 balance after the 2 withdrawals. Might as well make it worth the points for $200 more.
nas6034 is offline  
Old Apr 6, 13, 1:10 pm
  #791  
 
Join Date: May 2004
Posts: 2,438
I just tried to load $1000 onto my card and the cashier got the message we are unable to load this card please have customer call number on the card. This load will not bring me over $2500 nor have I already loaded money on this card today. Anyone else get this message?
gomike is offline  
Old Apr 6, 13, 1:26 pm
  #792  
 
Join Date: Dec 2003
Location: CA
Programs: BA, AA, United
Posts: 421
I have got some weird messages like that a few times.

1. I got it once when I tried to load $1K when I had loaded 4.5K (including the $500 initial load) within 28 days.
2. I got a similar message after I load 1K recently and it printed a message that it will load in 24 hours and call customer service. I called them and after about 30mins on the phone with them, they manually added money to it.

My suggestion is to call customer service and find out why u can't load.


Originally Posted by gomike View Post
I just tried to load $1000 onto my card and the cashier got the message we are unable to load this card please have customer call number on the card. This load will not bring me over $2500 nor have I already loaded money on this card today. Anyone else get this message?
rambo is offline  
Old Apr 7, 13, 10:01 am
  #793  
 
Join Date: Jun 2005
Location: Sweet Home Chicago
Programs: AA Platinum, Hyatt Diamond, SPG Gold, Hilton Gold
Posts: 574
Originally Posted by gomike View Post
I just tried to load $1000 onto my card and the cashier got the message we are unable to load this card please have customer call number on the card. This load will not bring me over $2500 nor have I already loaded money on this card today. Anyone else get this message?
You're allowed $2500 in loads per 28 days. In addition, your max balance can only be $2500.
MDWCommuter is offline  
Old Apr 7, 13, 8:14 pm
  #794  
 
Join Date: Jun 2012
Location: Atlanta
Programs: Delta Diamond; HHonors Diamond
Posts: 647
Originally Posted by CMHFlyerOH View Post
Since you get one free ATM withdrawal a month of up to $400, it's free to withdraw money, albeit slowly.
If you get the two cards on a single SSN as you're allowed to do, can you withdraw $800 per month for free (well, almost free at a $1.25 costco ATM)? If so, although it's not a game changer, it's a nice slow and steady way to make sure I reach some annual spend thresholds.
GatorBlues is offline  
Old Apr 7, 13, 8:54 pm
  #795  
 
Join Date: Feb 2006
Programs: Krisflyer, Asia Miles, Miles and Bonus
Posts: 237
Went to a target store today to buy the card. Was not allowed to load using my credit card. Anyone had this problem before?
bensim is offline  

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