Saturday, May 03, 2008

Rebates

What are you doing with your tax rebate? If you live near a Kroger, you may want to consider getting a gift card.

Kroger is offering customers the chance to get 10% extra when you bring in your rebate check (and if you don't have one--we have direct deposit--you can just charge it to your credit card or write a personal check). They're doing it in increments of $300, $600, and $1200.

So if you took your $1200 check to Kroger, they'd give you gift cards totaling $1,320. That's a 10% return, for doing nothing.

But wait--it gets better. If you happen to have a (no-fee) American Express Blue Cash credit card, you can use your card, which gives you 5% cash back on grocery purchases, and in effect, spend $1,140 to get $1,320 in groceries. That's a 16% return!! I challenge you to find a better return anywhere else.

So head on over to the Kroger website, and check it out. If you don't have an AmEx Blue Cash, you can get one here. But remember kids, pay off your credit cards each month--DO NOT do this if you're not going to pay that bill in full.

PS Yes, I know other stores such as Sears and KMart are offering this deal, but honestly, are you really going to spend $1,320 at Sears or KMart? I hope not--what you should do is get that cash at Kroger, and then move what you would've spent on groceries every month into a high-yield savings account until you've squirreled away that rebate. For heaven's sake, don't be a patriotic American and actually spend it! :)

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