Interesting Payment Option

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Interesting Payment Option

Postby Thackery » Sun Jan 13, 2013 4:07 pm

I remodeled our kitchen this past year and still owe a balance to Lowe's (interest free) I was recently at Kroger's Grocery and noticed they have Lowe's Gift Cards.
Hmmmmm. So can I buy a Lowe's Gift card and get points on my Krogers loyalty card which in turn gets you 10 cents off a gallon of gas at their stations.
10 cents/$100 Kroger's store purchase. You get multiple the 10 cents for each increment of 100 points. I also get points on my Visa that can be traded for merchandise etc. The Visa gets paid off every month.

Well Visa---Kroger's----Lowe's---= Merchandise points, discounted fuel, etc. I am paying the Lowe's balance off over the next 6 months, so might as well get any kick-back I can. The gas discount is limited to 35 gallons at one time, not sure the limit on discount per gallon.

So far I have done this twice and so far there is no catch.

Anyone else doing this sort of thing?

I friend of mine buys Amazon gift cards from Giant Eagle Grocery, getting approximately the same benefits.

Just food for thought.
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Re: Interesting Payment Option

Postby Bob Perry » Sun Jan 13, 2013 4:30 pm

Good for you! I guess they like to see us use credit, in hopes they will get all the high interest. But we have a chance to out-smart them by paying it off. I bet these retailers are hoping you'll just send in a little $ each month, that's where they win, and the typical consumer loses.
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Re: Interesting Payment Option

Postby Barnyard » Sun Jan 13, 2013 4:31 pm

I have done the same with gift cards. Makes sense, as well as cents, doing it. As for the Kroger discount, you can cash the whole discount at once. To get the most savings I cash the entire amount and fill the Suburban and two gas cans for the Cubs to get the 35 gallon limit. If you have 40 cents off and only get say 20 gallons and use 20 cents of that discount you save $4.00. the next time you go in you only have 20 cents a gallon left so if you get another 20 gallon you save another $4.00, for a total of $8.00 savings. But if you cash out the entire 40 cents and get 35 gallon you save $14.00. That’s another $6.00 saved. That’s why I take the cans whenever I fill up.
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Re: Interesting Payment Option

Postby Bonehead » Sun Jan 13, 2013 4:34 pm

Gaint Eagle and Shop-n-Save both do that around here. 30 gallon limit though. I don't redem the rebates untill I can get fill up for free. ( they still get you with the $ of groceries) . Every once in awhile they will have .20 cents earned for gift card purchases.
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Re: Interesting Payment Option

Postby Denny Clayton » Sun Jan 13, 2013 4:44 pm

In December I remember Kroger advertising double points on gift cards. There was a week in earlier December that they offered 4X the points. Thats when we get gift cards for the boys and their wives as supplemental Christmas gifts. Have done that for three or four years now.
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Re: Interesting Payment Option

Postby dgrapes59 » Sun Jan 13, 2013 5:05 pm

Yep, I buy gift cards if I am buying something significant at most any larger store that they offer the cards for. I keep ones for places I frequently shop in my billfold most of the time. I also took advantage of the 4X before Christmas and they were also offering up to $2 a gallon off. My truck has a 36 gallon tank so if I plan it right I can put the whole 35 gallons in... but I don't usually cut it that close, I take a few cans with me and put the extra in my wifes car when I get home. I have even had "date night" at the pump :D , met the wife there and filled one vehicle, pulled up and topped of the other up to the 35 gallons... hey at $2 off why not! Kroger fuel is competitive on pricing so the discount is not off an inflated price, but then I shop there anyway, guess you can say I have a loyalty to them :wink:

Last Christmas we got Dyson vacuum cleaners for the 2 girls, bought gift cards at Kroger, bought vacuums at Kohls on sale, got "Kohls bucks" for the purchase, used a credit card with rewards to buy the gift cards and got the points for the fuel... I think they ended up costing something! :lol:

You have to be careful as some stores don't accept gift cards to pay on accounts (i.e. Home Depot). Also, most of the Visa / MC cards have activation fees to consider.
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Re: Interesting Payment Option

Postby Thackery » Sun Jan 13, 2013 5:23 pm

My plan is to take the gas cans as well. The biggest tank we have in a vehicle is about 17 gallons, but we have at least 3, 5 gallon cans.

Back when savings rates were good and credit card companies offered 0% for 6-12 months, there were web sites that gave the best cards with 0%, etc.
Then the sites disappeared, not sure if it was due to the rates changing or some big brother thing came along to banish them.

If you had good credit and discipline you could make some pretty good money doing very little work.

Ah, those were the days my friends.

In answer to Dgrapes statement about some stores not accepting cards to pay off accounts. I checked with Lowe's first and then bought a $100 gift card just to make sure it worked. You know how stores can be, you get the wrong person and they tell you something that can or can't be done for some reason. I wanted to check with the $100 gift card before I walked in there with $1000.00 worth of cards and could not apply them towards the account. At Lowe's a manager has to "Cash" the card and then apply it to the account.
Hello David sounds like you are well. Hope to see you this year. If you see a box of them Lowe's cards laying around somewhere grab me a couple of handfuls. :wink:

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Re: Interesting Payment Option

Postby beaconlight » Sun Jan 13, 2013 8:19 pm

Beverly has a Discover card and with her points she buys $25.00 gift cards for $20.00. Price Chopper in NY has the gas discount too.
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Re: Interesting Payment Option

Postby Jim Becker » Sun Jan 13, 2013 10:14 pm

Barnyard wrote:If you have 40 cents off and only get say 20 gallons and use 20 cents of that discount you save $4.00. the next time you go in you only have 20 cents a gallon left so if you get another 20 gallon you save another $4.00, for a total of $8.00 savings.

Also, they give you 3 cents anyway for using their loyalty card. If you use a 20 cent discount on 20 gallons, you really only get 17 more cents to save an additonal $3.40. Do that twice in one month and you save a total $6.80. If you use all 40 cents at once on 20 gallons (really 37 cents) you save $7.40. So you want to save all your discounts for one purchase each month. The closer you get to 35 gallons on one purchase the better. I don't bring gas cans to fill unless I need some tractor gas anyway. I don't like to have much gas ahead and I'm not going to mess with filling the car or truck out of a can.
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Re: Interesting Payment Option

Postby Barnyard » Sun Jan 13, 2013 10:21 pm

Jim Becker wrote:
Barnyard wrote:If you have 40 cents off and only get say 20 gallons and use 20 cents of that discount you save $4.00. the next time you go in you only have 20 cents a gallon left so if you get another 20 gallon you save another $4.00, for a total of $8.00 savings.

Also, they give you 3 cents anyway for using their loyalty card. If you use a 20 cent discount on 20 gallons, you really only get 17 more cents to save an additonal $3.40. Do that twice in one month and you save a total $6.80. If you use all 40 cents at once on 20 gallons (really 37 cents) you save $7.40. So you want to save all your discounts for one purchase each month. The closer you get to 35 gallons on one purchase the better. I don't bring gas cans to fill unless I need some tractor gas anyway. I don't like to have much gas ahead and I'm not going to mess with filling the car or truck out of a can.

The Suburban holds about 34 gallons so when I'm down to about 28 gallons I grab a couple of cans for the tractors and such. By the time we have enough saved to have a big rebate the cans are usually empty again.
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Re: Interesting Payment Option

Postby dgrapes59 » Sun Jan 13, 2013 10:55 pm

With regular grocery purchases, pharmacy prescriptions and smart gift card purchases I usually max out on the discount (now $1) when I need gas. I don't use that much for tractors but putting 5 gallons in a tank saves another $5. I remove the tank from my truck and usually immediately put in in the wife's car, figure a couple minutes is worth it.

When I got 4X the fuel points in December I really racked up the points but that was the time you could get up to $2 / gal. off so I never got close to loosing them. You have through the following month to use them up and I ended up traveling more during that time. :shock:

I think saving on gas is a guy challenge thing :D When you put it in perspective, what else you spend money on but don't put that much detail into, makes you wonder :? .
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Re: Interesting Payment Option

Postby Thackery » Tue Jan 15, 2013 8:57 pm

Well, it may just be a guy thing but tonight I had Candace meet me at Krogers and had 2 5 gallon cans as well. We filled up both cars and both cans and the total gallons was just short of 35. So I saved $35 bucks by buying a $500 gift card for Lowes, which I then paid down my Lowes account with.
Works for me.
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Re: Interesting Payment Option

Postby outdoors4evr » Thu Jan 17, 2013 8:03 am

Our local grocery store does the 10 cents off up to 20 gallons of gas at speedway as well.
What I learned is that you don't have to buy the full 20 gallons to get the full $2.00 off.

Walk in and prepay for 20 gallons of gas (on credit card) and give them the coupon. They have you sign and give you a receipt with a transaction number. Put at least $2.00 worth of gas in the car or cans and hang up the filling nozzle. Get a receipt from the pump and compare it to the receipt from inside the store. Both have the same transaction number. When prepaying inside, a CC hold for the entire 20 gallons is posted and then the actual transaction price is charged to the card. Checked the card when home and found the actual transaction price, not the hold price was charged.

The actual price will reflect the $2.00 off no matter how many gallons you purchased above $2.00.
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Re: Interesting Payment Option

Postby lazyuniondriver » Thu Jan 17, 2013 3:41 pm

The best interest free "loan" or promotion I ever received was offered by Discover Card about 10 years ago. Some of you may remember this 2 purchase per month promotion.

I had signed up for a Discover card to get something free, or to save money on a purchase or for a reason I can't even remember. I never did use the card and it sat idle with no use and no balance for a few years.

Discover sent me a promotion advertising if I purchased anything before a specified deadline, the purchase(s) would remain interest free as long as I used my Discover card to make two purchases every month until the promotional balance was paid off.

I had just purchased a new truck and was shopping for a snow plow. The lightbulb in my head lit up after reading the fine print thoroughly. Discover did not specify how big the two required monthly purchases had to be, it clearly stated at least two purchases but no minimum amount was stipulated nor was there a promotion expiration date.

Their intent was to place your monthly payment against the promotional principle allowing your twice monthly purchases to compound accruing interest at 21% or something near that.

I set the calendar reminder on my phone to repeat every month so as not to miss the purchase deadline and did the following diligently month after month after having the 2K snow plow installed:

One time per month on my way to work, I would swing through the gas station whether I needed gas or not and stop at the first pump. I would swipe my Discover card and squirt a dime or less of gas into the tank and stop the pump.

Since the same pump wouldn't accept the same credit card twice in a row, I would pull forward to the next pump and repeat the process fulfilling my monthly obligation and scoring me another month of interest free credit which took all of 3 minutes to accomplish driveway apron to driveway apron. (If I did need gas, after the second Discover squirt I would swipe my regular gas card)

Making only the minimum monthly payment and only adding about $2.50 per year in gas which I paid only pennies of interest on, I was able to stretch the plow payment out just as long as the truck payments lasted with only pennies of interest added to the account.

They have never offered me that promotion again and even though they continue to send me a new card every few years, I am waiting for the chance to charge the whole truck next time if they dare to offer the same promotion.

In fact, because they have raised my credit limit over time, the truck and plow may both fit, but I'm not holding my breath waiting.
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Re: Interesting Payment Option

Postby lazyuniondriver » Thu Jan 17, 2013 3:42 pm

The best interest free "loan" or promotion I ever received was offered by Discover Card about 10 years ago. Some of you may remember this 2 purchase per month promotion.

I had signed up for a Discover card to get something free, or to save money on a purchase or for a reason I can't even remember. I never did use the card and it sat idle with no use and no balance for a few years.

Discover sent me a promotion advertising if I purchased anything before a specified deadline, the purchase(s) would remain interest free as long as I used my Discover card to make two purchases every month until the promotional balance was paid off.

I had just purchased a new truck and was shopping for a snow plow. The lightbulb in my head lit up after reading the fine print thoroughly. Discover did not specify how big the two required monthly purchases had to be, it clearly stated at least two purchases but no minimum amount was stipulated nor was there a promotion expiration date.

Their intent was to place your monthly payment against the promotional principle allowing your twice monthly purchases to compound accruing interest at 21% or something near that.

I set the calendar reminder on my phone to repeat every month so as not to miss the purchase deadline and did the following diligently month after month after having the 2K snow plow installed:

One time per month on my way to work, I would swing through the gas station whether I needed gas or not and stop at the first pump. I would swipe my Discover card and squirt a dime or less of gas into the tank and stop the pump.

Since the same pump wouldn't accept the same credit card twice in a row, I would pull forward to the next pump and repeat the process fulfilling my monthly obligation and scoring me another month of interest free credit which took all of 3 minutes to accomplish driveway apron to driveway apron. (If I did need gas, after the second Discover squirt I would swipe my regular gas card)

Making only the minimum monthly payment and only adding about $2.50 per year in gas which I paid only pennies of interest on, I was able to stretch the plow payment out just as long as the truck payments lasted with only pennies of interest added to the account.

They have never offered me that promotion again and even though they continue to send me a new card every few years, I am waiting for the chance to charge the whole truck next time if they dare to offer the same promotion.

In fact, because they have raised my credit limit over time, the truck and plow may both fit, but I'm not holding my breath waiting.
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