Tax Rebate + Reward Credit Card = Big Grocery Savings
In case you haven’t heard, grocery chain Kroger (KR) is offering to add 10% to your economic stimulus tax rebate if you swap it out for a Kroger gift card. So instead of receiving $300, $600, or $1200, you’ll get $330, $660, or $1320 worth of groceries.
What’s even better is that you don’t actually have to show your check to take advantage of this deal — and you can make payment with cash, personal check, or credit card! So…
Let’s assume that you take advantage of this offer and make payment with a reward credit card such as the AmEx Blue Cash Rewards card. Because this card offer 5% cash back on grocery store purchases, you’ll get the 10% bonus from Kroger plus 5% cash back from AmEx.
An example:
Purcahse a $300 gift card purchase and get $330 in credit. On top of that, you’ll receive an additional $15 cash back from AmEx, meaning that you’ll spend $285 to get $330 worth of groceries. That’s an instant return of nearly 16%. Not bad for a quick trip to the service counter.
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Just make sure you don’t splurge away all that extra money on treats. Its easy to do when you consider some of it a windfall.
Comment by EA — Apr 30th 2008 @ 11:55 am