This tip comes from one of my readers. If you have a tip that you'd like me to pass along, feel free to pass it along. If you want me to give you a tip of the cap (meaning you would like credit for the tip), feel free to include a name that I can use (whether it be a first name or posting ID). I'll publish these tips as often as I get them, so keep those tips coming. Of course, I'll post them at my discretion.
Anyhow, here is the tip for today. It comes from Far Left Texas:Discover is offering bonus cash back in the fourth quarter for grocery store (and restaurant and movie) purchases. The downside is that they cap this at $400 worth of purchases.
Now, I'm not anal enough to keep track of purchases and switch from one Discover to the next when I've reached the cap. So I purchased a $400 gift card at my favorite Albertsons. Next month I will purchase another $400 GC using my other Discover card and in December my wife will use her Discover to buy a $400 Albertsons gift card.
Bingo - maximum cash back with zero under use and zero over use. And by buying the gift cards the day after my statement cuts, maximum time before payment (although I'm going to pay in advance of cut date).
Albertsons also sells other gift cards, so we might be buying our Christmas list gift cards there too.
Tuesday, October 21, 2008
Reader Tip of the Day: How to Conveniently Maximize Discover's Bonus Cash Back
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6 comments:
The title should be how to conveniently maximize Discover's cash back. Since I already get 2% cashback on groceries with my PenFed card, but only 1.25% on everything else, I'm using my Discover for all restaurant and movie purchases for now. Then late in December, if I haven't used the entire $400, I'll use the rest on groceries, thus maximizing my overall cashback.
Done. Title now reads "How to Conveniently Maximize Discover's Bonus Cash Back."
Neat!
You saying you like it, BW?
If you're in an area with Giant Eagle grocery stores you can put this to even better use. Giant Eagle will give you 10 cents per gallon off gasoline for every $50 of Non-Giant Eagle giftcard you buy. I spend a lot of money at Home Depot, so I can buy $400 of HD giftcards, get my cashback from Discover, and then get 80 cents off per gallon of gas at Get Go (Giant Eagle's fuel stations chain>)
Drew, nice tip. Thanks.
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