Published on January 18th, 2016 |
by William Charles
Reselling Series: #6 Reselling Products From Kohl’s
We started this series a little while ago and took a hiatus; I hope we can get back on track going forward. Thanks again to Oren from Oren’s Money Saver for this series. You can check out the first 5 part of the series here:
There are tons of places to source deals from and I don’t want to do a separate post on each one but Kohl’s deserves its own post. After that we will combine many retailers into one post.
There is so much to be said about Kohl’s. I love Kohl’s. I don’t think Kohl’s loves me but I haven’t made it to their bad list yet. Kohl’s makes it easy to source. Most of the time Kohl’s is significantly more expensive than other stores. We don’t buy those items, do we? Of course not.
If you find anything that is the same price at Amazon, you probably have a good thing to buy. If it is cheaper on Kohl’s (much more rare but does happen), you usually have something great to buy.
Kohl’s marks up prices and then makes it easy to lower the price. If it is very expensive, it might be something good to buy for yourself after discounts but if it is cheaper at Kohl’s, you are in serious business.
You should not be paying full price at Kohl’s, period. There is always a coupon code available for a minimum of 10% but vast majority of the time there is a 15-20% promo code. Sometimes it goes up to 30-40% but those are less frequent.
Please keep in mind that some items are not eligible for coupon codes so it’s ok to pay full price for those if it is still a good deal 😉
Sometimes, the best coupon codes are only available if you use a Kohl’s charge card
for at least a portion of the purchase. For that reason, I have a Kohl’s charge card (though I rarely use it for any significant balance).
There are great websites that will let you know about current coupon codes. RetailMeNot
is a great one but you can also just Google “Kohl’s Coupon Code” and I’m sure you will find something.
If you resell merchandise it is usually possible to get full value or better from your Kohl’s Cash so it can be the equivalent of 20% off
A note of caution – if you return an item that earned Kohl’s Cash and those rewards were redeemed, Kohl’s will subtract the Kohl’s Cash from your return. For example, if you bought something for $100 and earned $20 in Kohl’s cash and used the Kohl’s cash, if you return the $100 item, Kohl’s will only give you $80 back, not $100. Treat Kohl’s Cash like real cash if you can.
Kohl’s has not one, but 2 types of loyalty points! You earn one Yes2You point for every $1 you spend. Every 100 points is worth a $5 Yes2You rewards certificate which can be redeemed starting the following month after they are earned. This becomes an effective 5% back in Loyalty Points if they are used. Points expire after approximately 30 days.
Enroll in Yes2You rewards here
Discounted Gift cards
You can often buy Kohl’s gift cards at significant savings. I’ve seen them as high as 20% off on Raise and 16.7% on eBay
. I’m sure others have done even better.
If you can’t find any good savings via gift cards (during the holidays when good discounts are hard to come by), you can always buy them from Gyft.
Gyft sells eGift Cards for many retailers at face value. The advantage to Gyft is that if you pay via PayPal and use a Chase Ink card you earn 5x Ultimate Rewards points. Even if there aren’t gift cards available on the exchanges (holiday season), you can still earn good savings that way.
If all that wasn’t enough, Kohl’s also usually has very generous portal earnings. During December of 2015, you were able to earn 10% back from Discover. That was worth 20% off if your cashback is doubled from Discover
. It also helped that the quarterly rewards from Discover was Department Stores which included Kohl’s so if you used a Discover card you would earn 15% cashback (30% if it was doubled). They also often have great mileage portal earnings.
A Word of Caution
Kohl’s has been known to ban resellers. I don’t usually buy more than 4 of any one item. That’s an arbitrary number to chose but it has worked so far. It could be more than 4 is safe too, but reselling is a long term game. If you earn an extra $200 this year because you pushed the limits but can’t buy from Kohl’s anymore, that’s not worth it.
As you can see, if you find something that is good to resell at Kohl’s without any of the extras, you can do some real damage at Kohl’s. It can be hard to find at Kohl’s but you find it, you can do your happy dance.