Sunday, January 5, 2014

Maximizing using Kohl’s Cash

How to maximize using Kohl’s Cash and Kohl’s Rewards.

Most of us know about manufacturing /earning/getting miles and point by applying multiple Credit Card every 90 days with best signup bonus, and that is the easy way of obtaining miles and point. I really don’t apply for Credit Card every 90 days, I do it either every 60 days or if there are few Credit Card at the same time with lots of signup bonus and if I didn’t the Credit Card in last 12 months I would do my Credit Card Churning. I mostly try to stick to manufacturing spend, particularly Chase UR point. For more info and benefit about UR point visit mommy points take on it.    

If you want to manufacturing spend, or Manufacturing points  in a compounding rate you can try what I normally do.  This process involves buying gift card, and then using gift card to buy an it, then selling it on amazon FBA, for more information on how to double dip to buy an item see Frequent Miler post on it. Also view this Economics of Kohls Cash. 

Manufacturing UR points from Kohl’s is the most efficient way of doing it. You can get 30% off any item on Kohl's, they run this promo twice a month, but you need to have Kohl's charge card in order to get his discount.  What I am going to talk here is about Kohl’s Cash and Kohl’s Rewards.

Kohls Cash

What is Kohls Cash ?

Kohls Cash comes with a 15 digit Coupon number and 4 digit PIN number. It also has a bar code, for online purchase you have to use the 15 digit coupon no. and the 4 digit PIN number.  For in store purchase they use the bar code. If you receive the Kohl’s cash in store, the cashier will give you a physical Kohl’s Cash with the amount and bar code printed on its back.

-          Its store credit a customer receives for purchasing items.  
-          It’s not redeemable for real Cash $$$$
-          It has a starting date and end date, you have to use it within that  date, after the end date the Kohl’s cash becomes void. The start and end date are based on Central Standard Time
-          You Earn $10 for every $50 spent
-          For store purchase you earn Kohl’s Cash when you check out, for online purchases you earn Kohl’s Cash when the item reaches “Fullfilment”  status
-          Customer is not charged tax for item bought complete with Kohl’s Cash
-          You do not earn Kohl’s Cash for purchase of Gift Card
-          You earn Kohl’s Cash for the value of the item not the amount you paid after taxes
-          If you use Kohl’s Cash, and a discount coupon, the Kohl’s Cash is applied first then the discount to the balance after Kohl’s Cash
-          You don’t earn Kohl’s Cash for item purchased with Kohl’s Cash

In general items in Kohl’s are overpriced, the only way it makes sense to buy an item is when you use the 30% discount to buy a item and also receive Kohls Cash which you can use later. Let’s look at an example

Price of an Item =$350*                *Pre Tax amount, after 30% discount
No of items to purchase = 10

Total amount for 10 item = $3500

Amount of Kohl’s Cash earned on $3500 Purchase is = $700 Kohl’s Cash

*If I have missed skipped any information please let me know.* 

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