Gift Cards at Supermarkets

[Winston1]

Bought some this morning (just 38 in the store...) with 07/17 expiry..

.

Whats the significance of the 07/17 expiry over the 05/17 expiry?

Also, has anyone figured out any affordable ways to liquidate these cards for those of us without larges tax bills etc. Thinking along the lines of using them to buy money orders or something like that which can then be used to pay of the Amex. (Manufactured spend)

 

[Pleb Status]

Whats the significance of the 07/17 expiry over the 05/17 expiry?

Also, has anyone figured out any affordable ways to liquidate these cards for those of us without larges tax bills etc. Thinking along the lines of using them to buy money orders or something like that which can then be used to pay of the Amex. (Manufactured spend)

As you lose all remaining value at expiry, why not give yourself two extra months to use them if you can. I have almost exhausted my local Coles of 07/17 cards and may have to look further afield if I want more.

I am looking to use my cards on a few large bills coming up and for daily non Amex spend. I am budgeting six months to get through them all.

I think the challenge for the 'group' is to get the best return on the FB points investment so you can claim a profit on this side of the transaction as well.

 

[exceladdict]

I feel so excluded from this party

 

[rainbowgirl]

As you lose all remaining value at expiry, why not give yourself two extra months to use them if you can. I have almost exhausted my local Coles of 07/17 cards and may have to look further afield if I want more.

I am looking to use my cards on a few large bills coming up and for daily non Amex spend. I am budgeting six months to get through them all.

I think the challenge for the 'group' is to get the best return on the FB points investment so you can claim a profit on this side of the transaction as well.

If you happen to like the Mix Apparel range of clothing from Coles the redemption rate for flybuys points is 1 cent per point. As discussed there are also flight options.

 

[andye]

As you lose all remaining value at expiry, why not give yourself two extra months to use them if you can. I have almost exhausted my local Coles of 07/17 cards and may have to look further afield if I want more.

I am looking to use my cards on a few large bills coming up and for daily non Amex spend. I am budgeting six months to get through them all

I think the challenge for the 'group' is to get the best return on the FB points investment so you can claim a profit on this side of the transaction as well.

Tying up money until July 2017 isnt worth 2 to 2.5 extra MR points to me but YMMV

I have paid health insurance, tax, rates and tolls a month or three in advance but beyond that the return diminishes for me

EY redemptions likely to offer best bang for buck. Some of the double value rewards are OK but identical products can often be found elsewhere. I have obtained a good return with double value theme park tickets in the past (even when compared with other discount sites)

 

[albyd]

I'm back tomorrow. Hope my local Coles has plenty of supply left
Has anyone used the self checkout? I'm assuming might be easier to put a few through assuming it can activate them.

 

[andye]

I'm back tomorrow. Hope my local Coles has plenty of supply left
Has anyone used the self checkout? I'm assuming might be easier to put a few through assuming it can activate them.

They scan but still need an approval. I prefer it as the delay while multiple cards activate feels like I am holding up the queue

 

[bbqwer]

I'm back tomorrow. Hope my local Coles has plenty of supply left
Has anyone used the self checkout? I'm assuming might be easier to put a few through assuming it can activate them.

I chose self checkout, it is less attention from manager/supervisor. Always buy around 3-4 cards.
Some coles are stupid - they wont allow you to use credit card to pay. their excuse is you can not buy gift card with credit card - Pathetic!!!

 

[RAM]

I chose self checkout, it is less attention from manager/supervisor. Always buy around 3-4 cards.
Some coles are stupid - they wont allow you to use credit card to pay. their excuse is you can not buy gift card with credit card - Pathetic!!!

But if you are slow getting out your wallet at the self-serve check outs then one Coles person on duty walks off to the next customer demanding help.

Even been known to use 5% off Coles gcs to pay for these...



Only problem is that means can only buy 2 or 3 a transaction. Always buy one or two grocery items with them as well - not so obvious then.

Our fridge has a lot of $3.50 a kilo broccoli funnily enough.

So points on buying discounted Coles gcs, flybuys points on prepaid mc purchase and 5% discount to boot. Not in the same league as 20% off FC gcs but far more useful.

Anywhere Amex is not accepted (or charged for) these will be used and get 5% off to boot.

Four new tyres on Tuesday done this way (and FBs earnt on that payment).

 

[WeeWillyWonka]

Have bought $8900 worth so far

So you've purchased 89 cards (assuming you bought the $100 cards)???

 

[digpomi]

Yes, 89 cards. No problem buying in 9 cards at a time at self service checkout

 

[albyd]

I've got stuck into it today 10 cards at a time. Plentiful supply at the two coles sydney cbd I've visited. Bought $6k worth but could do more just don't want to carry that much "cash" with me.
Also want to ensure I don't get stuck with too many in case this all goes wrong.
How much have other members in this thread bought? Still have a few more days to load up before offer ends subject to supply.
I've been using self checkout before processing payment asks for staff member to "check", they've just swiped to approve it and I've gone on to pay.

 

[exceladdict]

The Dick Smith situation has made me wary of independent eftpos/debit cards. But I think you're relatively secure with coles-branded ones. If wesfarmers went out of business, we'd have bigger problems.

 

[bbqwer]

I've got stuck into it today 10 cards at a time. Plentiful supply at the two coles sydney cbd I've visited. Bought $6k worth but could do more just don't want to carry that much "cash" with me.
Also want to ensure I don't get stuck with too many in case this all goes wrong.
How much have other members in this thread bought? Still have a few more days to load up before offer ends subject to supply.
I've been using self checkout before processing payment asks for staff member to "check", they've just swiped to approve it and I've gone on to pay.

Me so far bought around $4k worth. still 5 days to go, target is $10k worth.

 

[asterix]

Me so far bought around $4k worth. still 5 days to go, target is $10k worth.

I haven't bought any yet. Each month that I have a gift card sitting around not used costs me 0.4083% because the money isn't in the mortgage offset account, so within a few months the 3MR points would have quickly eroded into 0. I'll see if I have any upcoming bills that might be worth it.

 

[Winston1]

I haven't bought any yet. Each month that I have a gift card sitting around not used costs me 0.4083% because the money isn't in the mortgage offset account, so within a few months the 3MR points would have quickly eroded into 0. I'll see if I have any upcoming bills that might be worth it.

I don't think that's what's happening here. Like you say, it doesn't make any sense to hold onto that amount of 'cash' indefinitely. My guess is that some people are liquidating their cards whether it be through PayPal, western union or whatever means. Let's say it costs $5 to liquidate a $100 card (rate charged by western union). - you buy 150 cards (for free given the FB bonus) and earn 60,000 membership rewards points. Total cost of those points is $750 (1.25 cents each). That's pretty good value in my opinion. Enough points just about to redeem two Singapore suites rides between SIN & HKG with $50 taxes. So would I pay $800 for 8 hours in suites? Hell yes. Of course this is just one redemption off the top of my head, but you can see how its appealing for a good value redemption...

 

[Pleb Status]

I haven't bought any yet. Each month that I have a gift card sitting around not used costs me 0.4083% because the money isn't in the mortgage offset account, so within a few months the 3MR points would have quickly eroded into 0. I'll see if I have any upcoming bills that might be worth it.

If you are paying ~4.90%pa on your mortgage (pre latest cut), I would be looking at changing banks rather than playing around with MR points.

 

[exceladdict]

If you are paying ~4.90%pa on your mortgage (pre latest cut), I would be looking at changing banks rather than playing around with MR points.

Even just have a sad at your own bank - I did, they took a percentage point off their standard variable rate with little arm twisting required

 

[asterix]

I don't think that's what's happening here. Like you say, it doesn't make any sense to hold onto that amount of 'cash' indefinitely. My guess is that some people are liquidating their cards whether it be through PayPal, western union or whatever means. Let's say it costs $5 to liquidate a $100 card (rate charged by western union). - you buy 150 cards (for free given the FB bonus) and earn 60,000 membership rewards points. Total cost of those points is $750 (1.25 cents each). That's pretty good value in my opinion. Enough points just about to redeem two Singapore suites rides between SIN & HKG with $50 taxes. So would I pay $800 for 8 hours in suites? Hell yes. Of course this is just one redemption off the top of my head, but you can see how its appealing for a good value redemption...

I'm not in it for those redemptions, wish I was. I know the first/business class redemptions are the best value, but with a young family I've got to stick to the economy redemptions and am not willing to pay for points. Maybe when the kids are older and able to stay home and look after themselves.

 

[asterix]

If you are paying ~4.90%pa on your mortgage (pre latest cut), I would be looking at changing banks rather than playing around with MR points.

Oops, not sure how I got that number, I'm paying 4.04% after the rate cut comes in. Relatively small mortgage with a split variable/fixed component that would make the cost of refinancing not worth it.