Discount Gift Cards Lock in the Savings
Using coupons and shopping portals are great avenues for saving money. It usually takes minimal effort to type into google and find a great coupon code. The same is true with shopping portals. It literally takes two minutes and can save many dollars. I also advocate using reward credit cards to further amplify the cost savings. This is only a beneficial approach if you pay off your credit cards each month.
Using any one of these methods will save some money, but with a little extra effort and some stacking you can save a lot more money. Here’s my most recent example. Yesterday, I used my Blue Cash Preferred American Express (earns 6% cashback) at Kroger to purchase a $500 Visa gift card +$5.95 activation fee. After taking the 6% cashback into account the card ended up costing about $475, plus I got 500 gas points, which will translate into $17.50 discount on gas. With the gas and cashback savings that works out to $8.50 per $100 or 8.5%!
I buy dog food from Tractor Supply and try to time my purchases for their discounted prices every couple months. Usually though I have not been able to gain tremendous value using this method. However, that’s where buying discount gift cards comes into play. I took my Visa Gift Card from Kroger and went to TopCashBack.com and clicked to Raise.com. I found Tractor Supply gift cards for 14% off so I made my $100 gift card purchase, which also earned 3% cashback. So this portion of the transaction earned me $17 off of $100.
Raise.com emailed me my $100 e-card nearly instantly. I prefer a physical gift card so I had the idea of using my electronic gift card to buy a physical gift card. I went through BeFrugal.com to earn 5% cashback. I put a $100 gift card in my shopping cart and checked out. I paid with my e-card. The transaction went through flawlessly. So I earned another $5 for turning my gift card into another gift card.
Once I receive the gift card in the mail I will use BeFrugal.com again to earn 5% cashback on my purchases of dog food. The food is usually $31 a bag, but I will wait until the price goes down to $25 a bag. With all of the discounts stacked, I will be able to get 4 bags of dog food for $64.50, which is the price I would normally pay for 2 bags of dog food. Not including discounts or coupons I might find I will save 35.5% by just using cashback portals and credit cards in an advantageous manner.