I just had the weirdest experience at the grocery store (Price Chopper in Upstate NY). I ran in to get some last minute groceries before work. The store often prints out coupons tailored to my purchasing habits with the receipts since I use a store "membership points card" (more about that later).
I paid and the clerk handed me a coupon for $10 off of VISA gift cards of $100 or more. I looked at her and asked if I could just circle back and pick up that extra card - there was nobody at the store yet. Sure. What's the incentive for anyone other than me here? I'm an accountant and I fail to see the value for the businesses involved.
Here's the quick math behind this:
VISA card $100
Activation fee $5.95
Coupon ($10)
Net paid $95.95
But wait, there's more! I used my Citi Platinum Select AA bla bla 50K American miles card that I'm about to hit the minimum spend for the 50K points on so depending on how you value those points...it could be another 25% "discount"
($25)
And...the store offers $0.10 off per gallon up to 20 gallons for each $100 spent so that's almost another $2 off when you scan that membership card before your purchase (not to pay, just to track your purchases and get store discounts)
($2)
So basically the store offered to manufacture spend for me AND handed me free money to do so. No matter how you slice it, I walked out with more money in my pocket on this transaction than what I put in. You could say I spent around $70 to get a $100 or I spent around $96 to get $127 in value back.
I honestly didn't think coupons for cash would be a thing but I guess such a thing DOES exist. Have nice Thursday everyone!
