Second in this series, this post highlights a very important point that may cause some people to think "Duh!" and others to think "Huh?"
Gift cards are free money. If used correctly, they can do amazing things! If you got a $10 gift card, for example, you have two options of spending the money:
- Go to store, find $10 worth (or more) of merchandise, present gift card and, if necessary, pay remainder.
- Go to store when there's a current promotional event, find $30 worth of stuff, present $10 off $30 coupon, receive 50% off, pay with gift card.
In the second example, you're tripling the value of your gift card! So my point is, wait until there's a sale at the store you're planning on shopping at, and then use your card. It's a good idea to check the expiration date on your gift cards because some store cards don't last longer than a predefined time. Keep your card handy so it's accessible when you want that slick deal. By the way, the same applies to other forms of free money, such as reward certificates, cash cards, refund checks, etc.
How iRiR maximized $20: In October, I was mailed a DSW Rewards certificate valued $20. I wanted these really cute slippers that cost $34.95. Using a 30% off promotional code, I brought the total down to $24.47. Shipping was $7.95 (the free shipping code only applies to orders above a minimum), and the subtotal was now $33.09 including tax. Then I applied a $5 off coupon and my $20 Rewards certificate, and the grand total was $8.62!!! Postscript: I ended up receiving the order with a small problem and was ready to exchange them. They didn't have my size so I was offered a partial refund of $8.62. I argued with the sales rep that I should really be getting $20 because they should refund my costs, not my shipping charges! I got what I wanted :)
A really good friend got a gift card to amazon.com. What's the best way to use it?
ReplyDeleteFirst let me say that you have a wonderful friend who knows the right gift to buy! So how to spend it? You may not have the stamina, patience or motivation to hold on to your Amazon card for very long. However, if all the conditions are right, the cardholder can hang onto their card for a day that Amazon or Endless have a promotion. For example, if you love shoes and would buy a pair from Endless (a subsidiary of Amazon), you can wait till they have a 20-25% off promotion. Then, use the Amazon card to pay. Or, you can wait until you find a sale on Amazon (such as the 2-books-for-the-price-of-3 event). Slickdeals.com often posts Amazon deals.
ReplyDeleteI'm not getting the math of option #2. If the person gets $10 off $30 then when it comes to pay, they still owe $20. Paying with a $10 gift card will still leave them with a balance of $10.
ReplyDeleteSo what did they gain?!
Can you please explain?
In option 2, they are buying $30 in merchandise for only $10. This is to contrast option 1 where $10 only buys $10 worth of stuff.
ReplyDeleteThat's the part I didn't understand. How did they pay $10 for $30 of merchandise?
ReplyDeleteCan you break down the math for me?
Sure, though math isn't one of my specialties :)
ReplyDeleteStart with a basket of merchandise costing $30. Present a $10 off of $30 coupon, bringing your total down to $20. Then, use the store's 50% off store-wide event to make your total $10. Pay that with your gift card. You have officially gotten 3x your card's value!
Aha! Thanks for explaining it so clearly. :) (And I'm supposed to be the one with the math brain!)
ReplyDeleteSmart thinking!
Y'know, we should go shopping together!
Definitely! Just be prepared to help me carry my wad of clipped coupons!
ReplyDeleteHere's an example that just happened to me yesterday:
ReplyDeleteI have a $20 gift card for Ralph Lauren (see General Statement About Buying #1 to learn how I got it. I could have very easily bought an item worth that amount, pay the $8 shipping (giftcards don't reduce your shipping cost) and be happy. However, this is what I ended up doing. Yesterday they had a 25% off sale on many of their already-sale items. There was also a nice 10% off coupon code and a free shipping promotion. I bought about $45 of merchandise, applied the percentage discounts, and then used my gift card. I ended up paying about $9! So instead of getting $20 of stuff for $8 (the shipping), I got $45 of stuff for $9!