[OFFER EXPIRED] The game is getting so much easier these days. With all the prepaid cards, debit cards and cash-back sites offering rebates for purchasing gift cards, the era of minimum spend problems has disappeared. Here is a different play that will actually put cash in your pocket.
The game changing date is November 5th so I used the 4th in the headline. If you apply for the Blue Cash Preferred℠ Card from American Express Before the new deadline you will receive 6% cash back on unlimited purchases at stand-alone grocery stores for the next year. The annual fee is $75 for the card so you’ll need to commit to at least $1200 of purchases to make the play worthwhile. After the November deadline, the limit is $360 cash back. This is an act now post.
Why should I care about 6% cash back at grocery stores? Gift cards my friends, gift cards. Mix in some gift card purchases everytime you are at the grocery store in the next year and then move those gift card balances onto one of the new prepaid cards the Amex prepaid card at Target.
Buy the bank gift cards at a 6% discount using your Blue Cash Preferred℠ Card from American Express at the grocery store. It will cost you about $12 in fees to do so, as the bank cards typically have a $5.95 fee for each $500 card purchase. But you’ll get $60 cash back for the $1000 in gift card purchases. Then load them onto your new Amex card by Target. Load $1000 per time onto the card at a cost of $3. The $60 cash back you earned minus the $12 to purchase the bank gift cards and the $3 load fee to Amex at the Target store still leaves you a net profit of $45.
We all like miles and points but this is cash or $45 worth of free groceries every time you use this trick.
Remember the deadline for the unlimited 6% cash back is November 5th. Katy and I each applied yesterday.
IHG® Rewards Club Select Credit Card
- Annual Fee: $49 fee waived for the first year
- Foreign Fees: No
- Card Type: Hotel
The IHG Rewards Club Visa is often cited as one of the most underrated hotel credit cards, with good reason. The official offer is for 70,000 points after $1,000 spent within three months, with the first year’s fee waived. The card comes with an annual free night certificate that can be used at any IHG property, including Intercontinental hotels - making this certificate worth upwards of 50,000 points. This is far more generous than some other hotel cards, which limit the categories in which free night certificates can be redeemed.
Cardholders earn 5 points per dollar at IHG hotels; 2 points per dollar at gas stations, grocery stores, and restaurants; 1 point per dollar everywhere else. Moreover, you’ll get a 10% rebate on award redemptions, up to 100,000 points per year. The card also comes with Platinum status, though that doesn’t get you much with IHG. Still, this is a fantastic card to have in your wallet, with benefits that far outweigh the already low $49 annual fee.
- Earn 70,000 bonus points after you spend $1,000 in the first 3 months of account opening
- Enjoy a free night of card membership at over 4,700 hotels worldwide
- Earn 5 points for each $1 spent at our hotels
- Earn 2 points per $1 spent on purchases at gas stations, grocery stores and restaurants
- Bonus points redeemable at hotels such as Intercontinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts and Holiday Inn®
- Automatic platinum elite status, as long as you remain a cardmember
- $0 introductory annual fee the first year, then $49