Today through Saturday, March 18th, Safeway in Northern California (perhaps all Safeway locations?) and Albertsons have a $10 discount on $100 Visa Gift Cards. Note that you will first need to save the offer to your Just 4 U loyalty account before making your purchase.
These deals are best maximized by using a card that offers a bonus on grocery store spend. For example, the Amex Everyday Preferred earns 3x at grocery stores on the first $6,000 in grocery spend annually. If you use the card 30 or more times in a month, you will earn a 50% bonus for a total of 4.5x at the grocery store.
I believe that Safeway sells $500 Five Back Visa gift cards. I do not live near Safeway, so I’m hoping readers can confirm. If that is correct and you purchase with an Everyday Preferred, the math would look something like this: $505.95 ($500 gift card + activation fee)
– $10 (coupon off of $100 or more)
$495.95 total cost for $500 Visa gift card + 2,232 Membership Rewards points earned
Update: Thanks to reader Ken for letting me know that Safeway no longer sells the $500 Five Back Visa gift cards.
As Greg has shown, those who hold the Everyday Preferred and Business Platinum may soon be able to get 2.17 cents per point in value in some circumstances. That would make the rewards earned worth up to 9.765% back (4.5 points per dollar x 2.17 cents per point) towards paid flights on your selected airline or business or first class on any airline. Furthermore, if you can purchase a Five Back Visa and using it entirely at one of the merchants that earn 5% back, you would earn another 5% back.
That could be a great deal for what seems on the surface to be an average grocery store promotion. If you live in an area with one of these stores, it’s worth stopping by to take advantage of this deal by Saturday.
Safeway also has a couple of other gift-card related deals as well, so check your account for other coupons.