Monday, May 13, 2013

10%+ Cashback at Lowe's with Discover it and Chase Freedom

Disclaimer - The Discover offers are no longer valid.

Update: 5/13/2013 - Here is my email confirmation from Chase stating I will get an additional 1,000 Ultimate Rewards points for buying a $200 Lowe's physical gift card online.  In addition, I will still get 1,000 points for spending $200 in Lowe's during Quarter 2

I am selling my home this spring so there have been a lot of trips to Lowe's this year and this info has come in quite handy.  Even when we paid someone to redo our kitchen floor, I made sure to buy the materials myself for the extra cashback, which was not insignificant.

Discover it and Chase Freedom credit cards have rotating 5% cashback categories that include something with Home Improvement from now until the end of June.

Leveraging the Deal

If you are paying full price at Lowe's you are either too lazy, which I respect, or you don't know how to leverage it properly.  It's the same for both the Freedom and Discover it.  I can't promise I know all the tricks, but here is what I've got:

This is helpful even if you want to shop in the store and not online!

  • 5% - DISCOVER IT™ is offering 5% cashback at all home improvement stores.  
    • 10%- Start shopping at Shop Discover where you will get an additional 5% cashback on top of the 5% for a total of 10%.  You can stop here or:
    • Buy a physical gift card and have it shipped to you for free.
      • Don't buy an eGift card from Lowe's or because they use another company to process it and you won't get as much cashback as you should.
      • Give yourself at least a week for delivery.  You can get next day shipping for $5
    • 15%? - Once you have your gift card, go back to the Discover it shopping portal and buy what you want online.  Pay for it with your gift card and you may get another 5% back.
      • It is far more likely to work if you are paying for some of the transaction with your Discover it card.  Buy many gift cards in small denominations to leverage as much as possible.  I do not guarantee this part.
    • The stores needs to be coded as either a home supply retail store, lumber/building materia store, paint/wallpaper store, hardware sore or lawn and garden to qualify for the original 5%.  Lowe's, Home Depot, Shermin Williams Paints etc

Chase Freedom - The same steps as Discover it except start your shopping from Chase's shopping portal.  Freedom is only 5% back at Lowe's, not at any other home improvement store.

It says that cashback is not eligible on gift card purchases.  This is correct for egift cards, but physical gift cards come up as a regular purchase so you will get the extra cashback.

Other Hints

If you are moving, like me, you are also eligible for a mover's 10% off coupon.  It takes 3-7 business days for the coupon to come, but it does eventually come.  Also, you can go to the post office to get a mail forwarding package.  Many times they come with a 10% Lowe's coupon, but not always.

Lowe's and Home Depot usually accept each other's coupons so keep that in mind.

Lowe's used to have a 20 minute guarantee   If you ordered online and they didn't have it ready or call you within 20 minutes to say it won't be ready, you were eligible for a $20 gift card.  I can't find anything about it online so it may have been stopped.  If they are 20 minutes late, ask them about it.  It can't hurt to try.