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I’m a big fan of the Kroger grocery stores, and more specifically their well stocked gift card aisle, and right now many Kroger accounts have a digital coupon available for $5 off your grocery purchase if you purchase a $50 Visa or MasterCard gift card. Better still, this should stack with another digital coupon for 4x fuel points on $25 – $100 Visa and MasterCards. The $5 off groceries coupon is valid through 6/18/17 and the 4x fuel points coupon is valid through 6/6/17.
What this means you will essentially pay no fees for the $50 gift card since you get $5 off groceries with the digital coupon, offsetting the activation fee cost of the gift card. If you have both coupons you can also earn 4x fuel points, and when you pay with a credit card that earns a bonus at grocery stores then you can do really well overall on just a $50-ish dollar purchase. Personally, I have been paying for groceries with my Chase Freedom that earns 5x at grocery stores this quarter, up to a $1,500 quarterly max. You could instead go for cash back for your supermarket purchase via a card like the Blue Cash Preferred® Card from American Express.
Last time I used a coupon like this to essentially earn “free points” I used the Visa gift card to pay for doctor’s visit co-pays that otherwise wouldn’t have earned a bonus on any of my cards. It was money I was going to spend anyway, and I really didn’t pay anything extra to earn the points so that counts as free points in my book.
To put more numbers to this, the $50 Visa gift card costs $54.95, but with the $5 in groceries discount I’m putting that cost really at $49.95. You will then earn about 200 fuel points with the 4x fuel points coupon (20 cents per gallon off, up to 35 gallons), and if you paid with the Chase Freedom you would earn Ultimate Reward points for that $50 purchase. Depending on how you value fuel rewards and Ultimate Reward points, that’s up to about $10 in combined reward value from one $50 gift card purchase. Your savings will be less if you don’t buy as much gas in one fill-up.
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.