A couple weeks ago I wrote about how to get over $200 in free groceries using the deals that Kroger and several other grocery store chains are offering to entice people to spend their economic stimulus checks. Right now, and until July 31, several grocery store chains are offering a 10% bonus if you buy gift cards at their store.
Kroger is the closest store to us, and this deal is only offered in $300 increments, with a max of 4 gift cards per person. With the 10% bonus, the $300 gift cards are worth $330. So customers can buy gift cards in the following increments: $300 gift card worth $330, $600 worth $660, $900 worth $990, and $1200 worth $1320.
I bought my first set of gift cards and made $128
Yesterday, my wife and I went to Kroger to get groceries and I bought 2 $300 gift cards for $600. They are worth $660, so I made an immediate $60 in free groceries. I also used my Chase Freedom® Visa – $100 Bonus Cash Back, which offers additional cash back on groceries and gas, and 1% on everything else. This gave me an additional $18 in cash back which I will receive on my statement. The Chase Freedom® MasterCard card is featured under both the rewards credit cards and the 0% interest credit cards categories.
The other $50 came from a $50 sign-up bonus which you get after your first purchase after using the Chase Freedom® MasterCard Note: The $50 sign up bonus has since expired). If you wait until you have $200 cash back rewards to redeem your money, you can an additional $50, which will be a $250 check. So if I hold off awhile longer I can get more cash back. There is no annual fee for the card, which makes this an even better deal!
Why did I only buy 2 Kroger gift cards?
I only bought 2 cards because the Chase Freedom® Visa – $100 Bonus Cash Back + 0% Intro APR offers extra cash back rebate for the first $600 you spend per month in your top 3 “Everyday Spending Categories.” Gas and groceries are two of the “Everyday Spending Categories,” (the other category covers a lot of different things). Note: the cash rewards program for the Chase card has since been updated.
I also pay my credit card bill in full every month and I would rather spend $600 now vs. $1200. Next month I will go back and buy two more gift cards so I can get more free groceries and more cash back.
Two more gift cards will cost me another $600, but will give me $60 in free groceries, and as long as I wait until next month, I will get another $18 cash back on my credit card. Another $78 for free. That puts a smile on my face.