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@NADA918 wrote:
Are you sure about this? If you read the terms it says you don't earn rewards on cash equivalent purchases. If anyone can provide insight that would be great because I would like to use the card for that too
I buy Amazon gift cards at Kroger using my Blue Cash Preferred all the time ($200 to $300 each month -- I shop more at Amazon than at Kroger ) and get 6% back on all of the gift card purchases. Been doing this since the Blue Cash Preferred came out with no problems at all.
Now I have never tried to buy only gift cards. I always pick up groceries as well.
If you doubt that buying gift cards at a grocery store works to get 6% back, just take a look at your CC statement. Does it give you an itemized list of what you actually purchased? Or does it just say "insert grocery store here Purchase"? AMEX doesn't know what you bought from the grocery store, just that you made purchases there.
I mean, if they didn't give you 6% back for buying a gift card from a grocery store (because a gift card is not a "grocery), they would probably also refuse 6% back on all other non-grocery items you can purchase at a grocery store.
@Anonymous wrote:If you doubt that buying gift cards at a grocery store works to get 6% back, just take a look at your CC statement. Does it give you an itemized list of what you actually purchased? Or does it just say "insert grocery store here Purchase"? AMEX doesn't know what you bought from the grocery store, just that you made purchases there.
I mean, if they didn't give you 6% back for buying a gift card from a grocery store (because a gift card is not a "grocery), they would probably also refuse 6% back on all other non-grocery items you can purchase at a grocery store.
Its about what code the store reports to the merchant gateway not anything to do with what was actually purchased. ie walmart report any transaction as "Discount Store" thus anything and everything purchased there will NOT earn 6%
With regard to buying gift cards at a store that reports all transactions as "grocery store" yes that should work, as long as that store has a policy of "no gift card purchases with a credit card". At walmart you would be out of luck.
Simple really.
@CreditMuppet wrote:
@Anonymous wrote:If you doubt that buying gift cards at a grocery store works to get 6% back, just take a look at your CC statement. Does it give you an itemized list of what you actually purchased? Or does it just say "insert grocery store here Purchase"? AMEX doesn't know what you bought from the grocery store, just that you made purchases there.
I mean, if they didn't give you 6% back for buying a gift card from a grocery store (because a gift card is not a "grocery), they would probably also refuse 6% back on all other non-grocery items you can purchase at a grocery store.
Its about what code the store reports to the merchant gateway not anything to do with what was actually purchased. ie walmart report any transaction as "Discount Store" thus anything and everything purchased there will NOT earn 6%
With regard to buying gift cards at a store that reports all transactions as "grocery store" yes that should work, as long as that store has a policy of "no gift card purchases with a credit card". At walmart you would be out of luck.
Simple really.
Yup, makes sense to me. I never thought of buying gift cards from the grocery store though. Don't they usually charge some extra fee, like a few cents for every dollar you put on the card?
@Anonymous wrote:
@CreditMuppet wrote:
@Anonymous wrote:If you doubt that buying gift cards at a grocery store works to get 6% back, just take a look at your CC statement. Does it give you an itemized list of what you actually purchased? Or does it just say "insert grocery store here Purchase"? AMEX doesn't know what you bought from the grocery store, just that you made purchases there.
I mean, if they didn't give you 6% back for buying a gift card from a grocery store (because a gift card is not a "grocery), they would probably also refuse 6% back on all other non-grocery items you can purchase at a grocery store.
Its about what code the store reports to the merchant gateway not anything to do with what was actually purchased. ie walmart report any transaction as "Discount Store" thus anything and everything purchased there will NOT earn 6%
With regard to buying gift cards at a store that reports all transactions as "grocery store" yes that should work, as long as that store has a policy of "no gift card purchases with a credit card". At walmart you would be out of luck.
Simple really.
Yup, makes sense to me. I never thought of buying gift cards from the grocery store though. Don't they usually charge some extra fee, like a few cents for every dollar you put on the card?
Some might but I think most dont. I would never really bother to go this route as it seems like a lot of hassle to save a couple of $
Yup, makes sense to me. I never thought of buying gift cards from the grocery store though. Don't they usually charge some extra fee, like a few cents for every dollar you put on the card?
As Johnnie pointed out, some Pre-paid "credit" cards may gave a fee associated to load, or activate them.
Most other types of cards don't (store "gift" cards).
One thing you have to watch for though; is retailers incorrectly charging you sales tax for the Gift Card. Note: check your local and Federal tax laws, to see if the initial Gift Card purchase is taxable in your area.
I've heard of many retailers charging sales tax, at the time the Gift Card is purchased. Then whomever uses the Gift Card for purchases also gets taxed, on taxable items, at the time the Gift Card is used for the end purchase. These same retailers also usually refuse to credit the sales tax, or refund the purchase.
As an example: If you're getting charged 8% sales tax on a $100 Gift Card, and get 6% cash back from your BCP; you've already lost 2% (approximately) on the deal.
Edit: Must learn to proof-read first, post second.