The Offer
- Receive a $20 discount when you purchase $300 in Visa gift cards from Meijer. To be eligible for this promotion you’ll need a Meijer mPerks account (free to join), you then need to log into your account and clip the coupon.
The Fine Print
- Valid until October 4th, 2014
- Limit of one coupon per transaction and account
- Meijer has $100 Visa gift cards which have a $5.95 fee and $200 Visa gift cards which have a $6.95 fee
Our Verdict
Meijer codes as a grocery store purchase, so if you’re going to purchase $300 in Visa gift cards we’d recommend using a credit card that has a high category bonus for grocery stores. To make the most profit we’d recommend purchasing two $200 Visa gift cards (as you should earn back the $1 fee with your credit card rewards). Here is the profit breakdown:
- 2 * $200 Visa gift cards = $380 + $13.9 in fees
- Credit card rewards (assuming using a 5% cash back card on grocery stores) = $19.695
In total you’d end up paying $374.205 for $400 in Visa gift cards (~6.95% discount). You could then use manufactured spending techniques to unload the cards or just use them for your regular spending.
Hat tip to jfmamj from slickdeals and maximizing money for reminding me about this deal
