American Express Axing the Target Prepaid Card & Giving $25 to Sign up for Serve

Well, this comes as no surprise. I received an email from American Express announcing that, effective March 21, 2016, the American Express for Target Prepaid Card will be discontinued. This card no longer serves a function given the fact that Amex no longer permits debit loads on the card, and that Target is emphasizing its various Red Cards.

What does come as a surprise, however, is that American express is offering me a $25 credit if I sign up for a Serve card and then spend $25 with the new account! To accept the Serve $25 offer, I must sign up using the link in the email.

Here’s the text of the email I received:

We are writing to tell you that American Express® is discontinuing the American Express for Target Prepaid Card program on March 21, 2016.

As a valued Card Member, we ask that you please take action prior to March 21, 2016 in one of the following ways:
1.  Spend down the available balance on your account anywhere American Express Cards are accepted.

AND/OR

2. Withdraw the balance from an ATM (ATM fees may apply).
You will not be able to use your Card after March 21, 2016.

Any balance remaining on the Card after March 21, 2016 will be returned to you via check to the address we have on file for you within 45 days of account closure.

Please go online to americanexpress.com/target to update your address information.

If you are interested in a new Prepaid Account with additional features, we invite you to sign up for one of our American Express Serve® Prepaid Debit Accounts and receive a special offer. If you register here you’ll get a $25 credit when you spend $25 with your new Account1. American Express Serve offers free ATM withdrawals at over 24,000 MoneyPass® locations2, online bill pay, mobile check deposit3 and more.

Thank you,

American Express for Target Customer Care