REI - $20 off
Nov 29, 2012, 8:41 am
#1
Original Poster
Join Date: Oct 2012
Location: 5280/8150
Programs: Flying and sleeping
Posts: 341
REI - $20 off
http://www.rei.com/holiday-promo?cm_...t_promodetails
Spend $100, get $20 off next purchase.
Limited to one promo per purchase, but I don't see a limit on the number of purchases. Runs through 12/9. Use by 1/6.
Spend $100, get $20 off next purchase.
Limited to one promo per purchase, but I don't see a limit on the number of purchases. Runs through 12/9. Use by 1/6.
Dec 12, 2012, 8:13 am
#3
Original Poster
Join Date: Oct 2012
Location: 5280/8150
Programs: Flying and sleeping
Posts: 341
This was an awesome deal -
I used the REI Visa to buy 4x$100 gift cards - not dividendable normally, but 5% dividend because of the card. Each netted me a $20 promo.
Then, I went to get my new ski bindings (Marker Duke EPF), paid with the gift cards, got my 10% dividend, and another $20 promo card.
Total Purchase - $483 --- $400 gc and $83 on the REI Visa.
Total Dividend - $60.75 (10% of $483 + 5% of $83) + $20.00 (5% of $400)
Promo Cards - 5 x $20
Total Haul - $180.75 on a $483 purchase - 37% back. And, on an item that isn't on sale anywhere.
Not too shabby. If I had thought it through a bit more, I would have gone for 5 $100 cards instead of 4.
I used the REI Visa to buy 4x$100 gift cards - not dividendable normally, but 5% dividend because of the card. Each netted me a $20 promo.
Then, I went to get my new ski bindings (Marker Duke EPF), paid with the gift cards, got my 10% dividend, and another $20 promo card.
Total Purchase - $483 --- $400 gc and $83 on the REI Visa.
Total Dividend - $60.75 (10% of $483 + 5% of $83) + $20.00 (5% of $400)
Promo Cards - 5 x $20
Total Haul - $180.75 on a $483 purchase - 37% back. And, on an item that isn't on sale anywhere.
Not too shabby. If I had thought it through a bit more, I would have gone for 5 $100 cards instead of 4.
Dec 13, 2012, 2:50 pm
#4
Join Date: Jun 2012
Location: DCA
Programs: SPG, HHonors
Posts: 242
Walk me through this as I'm not understanding.
So you went in and purchased 4 x $100 GCs. You got $80 in GCs (4 x $20) for the promo. You also got 5% cash back with the REI Visa, or $20 ($400 * 5%), and you don't normally get the 10% dividend on GC purchases and I didn't think *that* was a perk of the REI Visa (am I wrong?). Discounting the fact that you don't actually get the $20 5% dividend until next year, you basically spent $400 and got $500 in value.
So you bought the Marker Duke EPF bindings for $449, or $483 with tax (I assume).
You used the $400 in GCs, netting you $40 next year ($400 * 10%). Plus $83 on the REI Visa for another $12 ($83 * (10% dividend + 5% REI Visa extra)).
So in all, you paid out $483 on your credit card ($400 in GCs + $83 for purchase). You got $80 in GCs that expire in a month. You also will receive a dividend next year on this series of purchases of $72 (dividends: $20 for 5% GCs + $40 for 10% GC binding purchase + $12 for 15% REI Visa purchase).
Or for your $483 in credit card purchases, you received an extra $152 in total value, $80 of which is in the form of soon-to-expire REI GCs and $72 which you receive next year. Total cash back is 31%, which is amazing if you can deal with the restrictions on its use. I think the discrepancy is in the fact that you're giving yourself extra dividend.
So you went in and purchased 4 x $100 GCs. You got $80 in GCs (4 x $20) for the promo. You also got 5% cash back with the REI Visa, or $20 ($400 * 5%), and you don't normally get the 10% dividend on GC purchases and I didn't think *that* was a perk of the REI Visa (am I wrong?). Discounting the fact that you don't actually get the $20 5% dividend until next year, you basically spent $400 and got $500 in value.
So you bought the Marker Duke EPF bindings for $449, or $483 with tax (I assume).
You used the $400 in GCs, netting you $40 next year ($400 * 10%). Plus $83 on the REI Visa for another $12 ($83 * (10% dividend + 5% REI Visa extra)).
So in all, you paid out $483 on your credit card ($400 in GCs + $83 for purchase). You got $80 in GCs that expire in a month. You also will receive a dividend next year on this series of purchases of $72 (dividends: $20 for 5% GCs + $40 for 10% GC binding purchase + $12 for 15% REI Visa purchase).
Or for your $483 in credit card purchases, you received an extra $152 in total value, $80 of which is in the form of soon-to-expire REI GCs and $72 which you receive next year. Total cash back is 31%, which is amazing if you can deal with the restrictions on its use. I think the discrepancy is in the fact that you're giving yourself extra dividend.
Dec 13, 2012, 3:17 pm
#5
Original Poster
Join Date: Oct 2012
Location: 5280/8150
Programs: Flying and sleeping
Posts: 341
Walk me through this as I'm not understanding.
So you went in and purchased 4 x $100 GCs. You got $80 in GCs (4 x $20) for the promo. You also got 5% cash back with the REI Visa, or $20 ($400 * 5%), and you don't normally get the 10% dividend on GC purchases and I didn't think *that* was a perk of the REI Visa (am I wrong?). Discounting the fact that you don't actually get the $20 5% dividend until next year, you basically spent $400 and got $500 in value.
So you bought the Marker Duke EPF bindings for $449, or $483 with tax (I assume).
You used the $400 in GCs, netting you $40 next year ($400 * 10%). Plus $83 on the REI Visa for another $12 ($83 * (10% dividend + 5% REI Visa extra)).
So in all, you paid out $483 on your credit card ($400 in GCs + $83 for purchase). You got $80 in GCs that expire in a month. You also will receive a dividend next year on this series of purchases of $72 (dividends: $20 for 5% GCs + $40 for 10% GC binding purchase + $12 for 15% REI Visa purchase).
Or for your $483 in credit card purchases, you received an extra $152 in total value, $80 of which is in the form of soon-to-expire REI GCs and $72 which you receive next year. Total cash back is 31%, which is amazing if you can deal with the restrictions on its use. I think the discrepancy is in the fact that you're giving yourself extra dividend.
So you went in and purchased 4 x $100 GCs. You got $80 in GCs (4 x $20) for the promo. You also got 5% cash back with the REI Visa, or $20 ($400 * 5%), and you don't normally get the 10% dividend on GC purchases and I didn't think *that* was a perk of the REI Visa (am I wrong?). Discounting the fact that you don't actually get the $20 5% dividend until next year, you basically spent $400 and got $500 in value.
So you bought the Marker Duke EPF bindings for $449, or $483 with tax (I assume).
You used the $400 in GCs, netting you $40 next year ($400 * 10%). Plus $83 on the REI Visa for another $12 ($83 * (10% dividend + 5% REI Visa extra)).
So in all, you paid out $483 on your credit card ($400 in GCs + $83 for purchase). You got $80 in GCs that expire in a month. You also will receive a dividend next year on this series of purchases of $72 (dividends: $20 for 5% GCs + $40 for 10% GC binding purchase + $12 for 15% REI Visa purchase).
Or for your $483 in credit card purchases, you received an extra $152 in total value, $80 of which is in the form of soon-to-expire REI GCs and $72 which you receive next year. Total cash back is 31%, which is amazing if you can deal with the restrictions on its use. I think the discrepancy is in the fact that you're giving yourself extra dividend.
Either way, I'm pretty pleased. I shop at REI enough that I'm not concerned about the restriction on using the promo cards. There's always new gear to be had. (Or presents to buy for family!)
Also, I'm pretty sure I get 10% dividend on the $100 of promo card purchases, when those happen.
Dec 14, 2012, 10:41 am
#6
Join Date: Jun 2012
Location: DCA
Programs: SPG, HHonors
Posts: 242
Right! Missed that one. I buy stuff from REI all the time so I was intrigued on how to best do the $20 GC promo. Didn't end up doing anything with it, but just wanted to follow your logic so I am better equipped next year!
Dec 15, 2012, 3:29 pm
#7
Original Poster
Join Date: Oct 2012
Location: 5280/8150
Programs: Flying and sleeping
Posts: 341
To update, I went and used the promo cards today on a new backpack for backcountry touring. Final price was $149 and change. I got 10% on all of that and an extra 5% on the $49 I put on the REI Visa. So, add another $10 (10% x $100) into the original calculation.