For travel rewards enthusiasts, there’s a great promo that gives you a 22% return on all your spending for a while. And another one gives you a more targeted discount, just to give you examples of promos that can be very lucrative.
Both end next week though.
Giant Tiger Promo
There’s an amazing promotion at Giant Tiger (a store that is coded as a “grocery store” by Amex).
If you buy a $100 Visa or Mastercard prepaid card, you get a $10 gift card (until November 30th only).
Prepaid cards are not free, unlike retail gift cards.
But the $5.95 activation fee is completely offset by the $10 they give you. You make a profit of $4.05 per card!
And on top of that profit, you earn 5 points per dollar on your purchase if you have the American Express Cobalt Card.
(This allows you to get 5% indirectly at all retailers that are not normally available through grocery store gift card displays, so 5 points per dollar at Costco in particular—get the Mastercard, not the Visa—or at all smaller retailers!!!)
Let’s say you’re financially well organized and you follow your personal finances closely (definitely a good thing to do if you want to travel more!), you can probably estimate roughly how much you’ll spend in the next 3 months.
Assuming you have the cash to prepay that, you can make a very good deal.
For example, let’s say you’re going to spend $2,000 on expenses that you can pay with Visa and Mastercard.
You buy 20 pre-paid cards in the amount of $100, which gives you a profit of $81 ($4.05 per card). You also earn 10,000 Amex points (so 10,000 Aeroplan or Avios points), which are conservatively worth ≈ $150.
So you get $231 back on your $2,000 purchase, or an effective return rate of 22%.
A lot better than 1% or 2% right?
Metro Promo
Another example, from Québec only in this case.
But there are often promotions like that. Shopping malls often have them too.
Until December 1st, Metro is selling some gift cards from clothing retailers at 10$ off (50$ gift cards sold for 40$).
If these are clothing retailers where you know you’re going to spend anyway, if you buy $100 worth of clothing, it just costs you $80.
And you also get 5 times the points on your clothing purchase instead of just 1 point per dollar since Metro is one of the grocery stores in Canada that accepts Amex cards.
Want to get more tips to learn how to earn free travel?
Summary
Here’s an interesting prepaid card promo, especially if you have the American Express Cobalt Card that gives you 5 points per dollar.
What would you like to know about this promo? Tell us in the comments below.
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