We realize that not every deal can be 43,000 Ultimate Rewards points in a week. Sometimes, you come across a little deal that is just free money. This is one of those deals. It probably isn’t worth a special trip, but if you are running to Simon Malls to buy some gift cards so you can Get Miles for Paying your Rent or Mortgage and their happens to be a KMart on the way, why not pick up an extra $15?
If you have a Bank of America credit card or debit card, they have a section on their online banking under Cash Back Deals called BankAmeriDeals.Deals come and go, but the one we are interested in is the one for 10% cash back at KMart through 7/22/14. When I click on the logo, it gives you more details.
All you have to do is go to KMart and buy $150 worth of anything and Bank of America will give you $15 back as a credit on your account. When I went there I found a big gift card rack with Amazon gift cards, restaurant gift cards, phone gift cards, and most importantly, Visa and Mastercard gift cards! I grabbed a $200 Mastercard which had a $6.95 fee that looked like this.I took it to the cashier and told them I wanted to put $150 on my Bank of America card then the remaining balance on my Chase Sapphire Preferred card. This way I will max out the $15 total benefit with my Bank of America card and get Ultimate Rewards points for the balance ($56.95).
When I opened the package I instantly saw what I was looking for, the PIN code.I was able to take this card along with some others and buy a money order at the Walmart money center. I then was able to deposit that money order in my checking account which I used to pay off the credit card bill.
At the end of the day, I spent $206.95 and got a $15 credit. So after the fee this comes to $8.05 in profit, but I also got 1% cashback on the BoA charge (so $1.50) plus 56 UR points. Not a home run by any means, but $8 is enough for lunch at a lot of places. Who says there is no such thing as a free lunch! 🙂 Note if I wanted, I could have bought a $150 Amazon gift card which has no fees and gotten the full $15 in cash back. Since I didn’t have any Amazon purchases planned, I preferred something I could easily convert to cash.
What do you think? Is this worth your time if you are already out and about? As always, reply with any questions and follow me on Google+, Facebook, Twitter and Instagram to make sure you don’t miss any great info!