The Target Prepaid REDcard

[caliheat]

That's what everyone said about vanilla reload and cvs. They would get an extra thing it two when they would pick up VR. But eventually most things do die

Target and CVS are completely different and these programs are as well.
From a marketing standpoint, the argument of VC vs RC doesn't work on many levels.

[D.]

Let's not forget that Target isn't the only interested company here. I present this quote from the WSJ (yes I read it in addition to getting it for free ):

"The end of the Costco relationship represents the latest setback for AmEx, which once was known as a status symbol for the affluent but is now under attack from competitors like J.P. Morgan that are also going after wealthy Americans. AmEx is now trying to expand into other areas, such as pitching prepaid cards for low-end consumers, but that strategy will likely take years to pay off."

Sound like anything we're familiar with? "Professionals" who attend focus groups and crow about getting CC points for maxing out their RCs aren't Amex's target for the Serve program so keeping features like CC loading around for them specifically doesn't make sense.

Full article: http://www.wsj.com/articles/american-express-to-lose-costco-exclusivity-1423746408

[hvaces42]

Might I suggest http://forums.dansdeals.com/index.php?topic=49809.0?

Notice its only you and I who have posted there. Keep on trying to pump it up though. 

[Mountain Man]

Has anyone had experience using Redbird with Fidelity 2% cash back visas? I'd like to diversify away from Chase.

[Mountain Man]

He says it's costing Target 75$ a month per customer who loads 5k (then multiply by number of RC's).

AmEx is now trying to expand into other areas, such as pitching prepaid cards for low-end consumers, but that strategy will likely take years to pay off."

I think that AMEX probably heavily subsidizes the surcharges for the credit card transactions. There is a lot of money to be made in the prepaid card business most notably is that if you're not MS you're very likely to leave a balance on the card and forget about it. That's one reason why companies like Walmart and McDonalds try very hard to pay their associates with gift cards. That's probably also why Krogers will sell the U.S bank gift cards for less than a 1.25% surcharge on a $500 load. Their cost alone of staffing their call center must be above 1.25% forgetting about credit card transaction costs.

[Aj3042]

1) It's safe to assume that not every RC is purchased by people doing MS.
2) The cost of $75 per $5k is an estimate at the maximum.
3) Paying $75 to acquire a lifetime customer is peanuts - so yes, it is worth it.
4) Target managers get paid peanuts and are under-qualified, therefore, they would have no specific knowledge of the program impact etc.

Ok right. And that's why CVS VR's were stopped as well. Because they're very profitable and bring in customers. I got you.

[zek]

Has anyone had experience using Redbird with Fidelity 2% cash back visas? I'd like to diversify away from Chase.

That card is terrible. Ok the 2% is good but don't ever expect to get more than sub-standard customer service (BOA).

[caliheat]

Ok right. And that's why CVS VR's were stopped as well. Because they're very profitable and bring in customers. I got you.

CVS sells pharmacy services specifically, Target sells household goods = completely different market.
REDCard offers 5% off at Target.
and many more differences..

[Mountain Man]

That card is terrible. Ok the 2% is good but don't ever expect to get more than sub-standard customer service (BOA).

I'm not planning any purchases on the card aside from Redbird. I'm just looking for a good cash back option as I don't want to deal with selling miles.

[avromie7]

I'm not planning any purchases on the card aside from Redbird. I'm just looking for a good cash back option as I don't want to deal with selling miles.

You can do Barclay arrival+

[CS1]

CVS sells pharmacy services specifically, Target sells household goods = completely different market.
REDCard offers 5% off at Target. and many more differences..

it's also safer on a redcard, bec we used to walk around with $5K in VRs. From CVS and until they were put into the bb, they were cash to anyone at anytime. 

[Mountain Man]

You can do Barclay arrival+

But then the cash back is restricted for airtravel. As it stands I can't travel as much as I'd like and all corporate travel for me has to be done on company cards.

[avromie7]

But then the cash back is restricted for airtravel. As it stands I can't travel as much as I'd like and all corporate travel for me has to be done on company cards.

Buy refundable tickets...

[Marco Polo]

But then the cash back is restricted for airtravel. As it stands I can't travel as much as I'd like and all corporate travel for me has to be done on company cards.

You can always cash it out with refundable travel.

[Mountain Man]

Buy refundable tickets...

You can always cash it out with refundable travel.

I'm not familiar with refundable tickets. I thought that they were a quick way to get your account flagged (besides for the dozens of hashgafa posts).

[TimT]

I'm not familiar with refundable tickets. I thought that they were a quick way to get your account flagged (besides for the dozens of hashgafa posts).

Buy a southwest anytime ticket using the arrival card, redeem the points towards that charge, then refund the ticket.

[D.]

I'm not familiar with refundable tickets. I thought that they were a quick way to get your account flagged (besides for the dozens of hashgafa posts).

Definitely getting OT at this point but Southwest has them.

[Mountain Man]

Definitely getting OT at this point but Southwest has them.

Buy a southwest anytime ticket using the arrival card, redeem the points towards that charge, then refund the ticket.

Ok. I'll look into that. Thanks.

[TimT]

Ok. I'll look into that. Thanks.

Here's some info http://www.dansdeals.com/archives/40685

[Mountain Man]

Here's some info http://www.dansdeals.com/archives/40685

Thanks.