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Get $40 off a $40 Target purchase after approval for the Target RedCard

Target is known for its red bullseye logo and Target Circleâ„¢ Offers that help shoppers earn up to 50% off hundreds of items, but now there’s a new reason to consider opening the popular store card.
New applicants who are approved for the Target RedCar…

Target is known for its red bullseye logo and Target Circle(TM) Offers that help shoppers earn up to 50% off hundreds of items, but now there's a new reason to consider opening the popular store card. New applicants who are approved for the Target RedCard(TM) card through October 10, 2020 receive a £40 coupon for a future qualifying purchase at Target. If you frequently go on Target Runs and order from Target.com, you may want to consider applying this month.

The Target RedCard already offers a unique 5% discount at checkout on most purchases in-store and at Target.com, plus free two-day shipping on most items. Below, CNBC Select breaks down what you need to know about the new limited-time offer.

Target RedCard(TM)

Target RedCard(TM)

Information about the Target RedCard(TM) has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

  • Rewards

    5% discount at checkout on most purchases in-store and at Target.com

  • Welcome bonus

    Receive £40 off a future qualifying purchase of £40 or more when approved from 9/13/20 to 10/10/20.

  • Annual fee

  • Intro APR

  • Regular APR

    22.90% variable

  • Balance transfer fee

  • Foreign transaction fee

  • Credit needed

Terms apply.

New Target RedCard welcome bonus

When you're approved for the Target RedCard between September 13 to October 10, 2020, you'll get a coupon for £40 off a minimum £40 qualifying purchase. This offer is similar to the limited-time offer Target ran in August that offered £50 off a future qualifying purchase of £100 or more, but it has a lower minimum purchase requirement.

You can apply online or in-store to qualify for this welcome bonus. After approval, the £40 coupon will be mailed to you and is valid through November 14, 2020. The coupon can be used toward a wide selection of Target items, from camping gear and reusable water bottles to paper towels and toilet paper.

However, there are exclusions including: items sold & shipped by Target Plus(TM) Partners, alcohol, Apple products, Samsung TVs, Target Optical and more. Refer to the coupon for the full list of exclusions. Don't miss: 5 things to know about the Target RedCard

Information about the Target RedCard(TM) has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff's alone, and have not been reviewed, approved or otherwise endorsed by any third party.