Common Cents # 19 - Coupons and Gift Cards

 

 Coupons and Gift Cards

 

Many companies we do business with provide incentives, loyalty programs, or gift cards that keep us continuing to be a regular customer.  I recently cashed in some Southwest Airline Points for a Panera Bread Gift Card which I loaded onto my Panera App on my phone. This should cover all of my Panera meals and drinks for a few months, especially since by using the phone app, I get bonus items, and save a huge amount of time at the order counter. The Southwest Airline points didn’t come from flying, but from charging my everyday business expenses to my SW Visa Card.

Whenever we eat out, we often use gift cards that we received as rewards from using various credit cards. We only use credit cards that give us points or cash back toward gift cards that we will use for other things. We charge everything we can, including some “every month subscriptions” such as the phone bill, take the 1.5% or more cash back or accumulate points, and always pay the card bill before the due date to avoid any interest, service charges, or late fees. Since we never have a credit card balance, we aren’t concerned about the interest rates they charge, but instead, look closely at the rewards for using the card. Many are quite generous.

When we shop at CVS, we usually have a small stack of coupons and “Bonus Bucks” from the last visit. When the cashier rings up the sale, not only do we have a smaller balance due, we often get enough coupons or money back awards to pay for the next visit. I don’t know if they like us because we are loyal customers or dislike us because we take advantage of the deals. These types of “loyalty” programs are popular because they encourage repeat business.

I almost always have a $5 reward card from Ace Hardware whenever I stop there for the usual household necessities.

Most coffeehouses, bagel shops, and delis have some sort of program that gives a free drink or a meal after nine visits or something similar. It may seem like a hassle to try to keep track of all of those coupons, loyalty cards, and gift cards, but a small amount of attention and discipline can save hundreds of dollars a year. If we are not taking advantage of these kind of things from businesses we would normally use anyway, we are leaving money on the table. Also, if you believe you qualify, remember to always ask for a senior discount. Some places consider anyone over fifty to be a senior. It is great to have something good accompanying the years that have been lived!

The point is to always watch for loyalty programs and awards. Over the course of year or two, they can be worth quite a bit of money toward the things we would normally buy anyway. And remember that it could mean a great deal to friends or family to have one of these gift cards tucked into a greeting card for a special occasion or because you know they could use some encouragement during these unusual days.