20% off Lowes and iTunes gift cards

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The following offer is valid until June 16th.  At Michael’s stores (in person, only), you can buy $50 Lowes and iTunes gift cards for $40.  Hat tip to readers Jason and Mitch.

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Things to consider:

  • Gift card resellers currently buy Lowe’s gift cards from individuals for 82 cents to the dollar, so it may be possible to make a nice profit on this and pump up your credit card spend.
  • iTunes gift cards have almost no resale value.  Buy these only if you plan to use them yourself or to gift them.  I’d consider buying one or two personally to take the sting out of iTunes video rentals and app purchases.
  • You may have trouble finding these in stock.  This FatWallet thread has been active for a couple of days now.  People have already been actively buying up every card they find.  If the store is out of your way, it would make sense for you to call before going.  They are likely to receive another shipment before this deal ends so it might pay to call daily.
  • According to the same FatWallet thread, not all Michael’s stores allow purchases of gift cards with credit cards.
  • I’ve had a to-do (for quite a while) to publish a set of Lowe’s savings tricks from FlyerTalker and reader Sam_Goh.  I’ll try to get this published in the next week or so.  By combining 20% off with some other tricks, you can expect some really nice savings at Lowe’s!
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