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FlyingDelphin
Ancient Member
rated:
posted: Mar. 1, 2013 @ 12:04p
A bit more info:
Home improvement stores are defined as home supply retail stores, lumber/building material stores, paint/wallpaper stores, hardware stores and lawn and garden supply centers. These purchases must post to your account by 6/30/13 and do not count towards determining your eligibility to earn 1%. Purchases made at warehouse clubs, wholesale distributors, and discount stores are not eligible. Purchases made using Near Field Communication (NFC), virtual wallets, or similar technology may not be eligible. If a purchase is coded for a category other than listed above, it will not qualify. Rewards are added to your CashBack Bonus account within 2 billing periods.
They are referring to churning the 5% rewards with Lowes gift cards - at which point you'd either buy gift cards you're going to use anyway to get the 5% off of whatever purchase (i.e. Subway) - or buy prepaid visa cards. I'm sure you can read tips in the Chase Freedom thread where people are doing the same things to max out Drugstore redemptions this quarter.
JuNooNi said: does anyone know if Sears count as Home Improvement store? I guess I will try with small amount first.
"Home improvement stores are defined as home supply retail stores, lumber/building material stores, paint/wallpaper stores, hardware stores and lawn and garden supply centers."
This obviously would be Lowes, Menards, Home Depot, Sher. Williams (paint/wallpaper), Ace, Tru Value (hardware).
I think Sears is typically a "department store" like JCP, Kohls, etc.
Horseymen said: They are referring to churning the 5% rewards with Lowes gift cards - at which point you'd either buy gift cards you're going to use anyway to get the 5% off of whatever purchase (i.e. Subway) - or buy prepaid visa cards. I'm sure you can read tips in the Chase Freedom thread where people are doing the same things to max out Drugstore redemption this quarter.
I can't find any reference to what you speak, but I believe I know what you are saying. However, this only works if you can:
1) Use Lowe's gift cards for the purchase of other Gift Cards at Lowes. I think most stores don't allow this. Are you sure Lowes does? 2) Lowe's carries prepaid Visa cards in $500 denominations AND you can pay from them with a Lowe's GC.
With an average fee of $5 to activate a Visa card, it doesn't make sense to buy 15 @ $100. That is a $75 of activation fee which eats up your $75 in CashBack from the $1500 in purchases. With $200 cards you would see about $35 - but hardly worth the effort. With $500 cards you lose only $15 - for a profit of $60 which isn't bad.
Of course, if you purchase the Lowe's GC through Chase UR Portal and get another 5x points back that's another $75.
BenH said: Horseymen said: They are referring to churning the 5% rewards with Lowes gift cards - at which point you'd either buy gift cards you're going to use anyway to get the 5% off of whatever purchase (i.e. Subway) - or buy prepaid visa cards. I'm sure you can read tips in the Chase Freedom thread where people are doing the same things to max out Drugstore redemption this quarter.
I can't find any reference to what you speak, but I believe I know what you are saying. However, this only works if you can:
1) Use Lowe's gift cards for the purchase of other Gift Cards at Lowes. I think most stores don't allow this. Are you sure Lowes does? 2) Lowe's carries prepaid Visa cards in $500 denominations AND you can pay from them with a Lowe's GC.
With an average fee of $5 to activate a Visa card, it doesn't make sense to buy 15 @ $100. That is a $75 of activation fee which eats up your $75 in CashBack from the $1500 in purchases. With $200 cards you would see about $35 - but hardly worth the effort. With $500 cards you lose only $15 - for a profit of $60 which isn't bad.
Of course, if you purchase the Lowe's GC through Chase UR Portal and get another 5x points back that's another $75.
Can anyone confirm #1 or #2 above?I tried paying for a GC using Lowe's GC once and it crashed the payment terminal computer - no go for me. YMMV.
ucfzf10 said: I tried paying for a GC using Lowe's GC once and it crashed the payment terminal computer - no go for me. YMMV.
I would suspect as much (well not a crash per-se, but at least not the ability to use a Lowe's GC to purchase another GC).
So, I can only see earning money on this if indeed you either: a) Need $1500 worth of hardware. In which case you would make $75 in CB as well as another $75 if you use ShopDiscover/UR b) Need $1500 worth of merchandise gift cards that Lowes carries. In which case you would make $75 in CB only since no GC are available through Lowes online. c) Buy $1500 worth of Visa cards that Lowes carries (in store only). In which case you would make $75 minus anywhere from $15 to $75+ in activation fees. d) Buy $1500 worth of Lowe's GC online - earning $150 (CB + Portal). Then selling the gift card. Plastic Jungle gives ~90% for Lowes cards right now (that will go much lower come April when everyone is selling them). That means for $1500 worth of cards you will make $1350 - which is a loss of your $150 profit from the purchase.
Really interested in how anyone sees a different alternative.
I have a question, can you stack the 5% quarterly bonus (this time home improvement) with going through their shopdiscover.com page for an additional 5%, so would get 5% plus using online site an additional 5%?
maddybeagle said: JuNooNi said: does anyone know if Sears count as Home Improvement store? I guess I will try with small amount first.
"Home improvement stores are defined as home supply retail stores, lumber/building material stores, paint/wallpaper stores, hardware stores and lawn and garden supply centers."
This obviously would be Lowes, Menards, Home Depot, Sher. Williams (paint/wallpaper), Ace, Tru Value (hardware).
I think Sears is typically a "department store" like JCP, Kohls, etc.
Sears Hardware Stores *should* count. I doubt Sears department stores would count.
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