Reward Cards. Are They Worth It?

It never fails to amaze me. I’ll be waiting on a customer at my sister’s consignment store and at the end of the transaction I’ll ask if they have their punch card handy. Maybe they just spent $80, or even $100. My sister’s frequent shopper card allows for one punch for every $20 spent, and when the card is filled, the customer nets a cool free $20 in merchandise. And, get this; it only takes ten punches, or $200, to get the reward of $20, easily attainable in a month or two by a regular customer.

“No, I don’t have a card,” I’ll hear, and when I explain how the card works, the customer might simply shrug her shoulders or respond; “I don’t want one. I’d just lose it.”

I am amazed.  I have had customers spend halfway to the golden egg of the coveted filled card still refuse their rightful punches.

Are rewards cards worth it? Are they worth the extra hassle of finding a place in your wallet or purse to store them? I have been asked this many times.

Well, it depends. Do you like free money?

These are the rewards cards currently in my wallet.

I have more rewards cards that are virtual only. I don’t have an actual Hot Topic rewards card, although I am sure they sent me one a couple of years ago. Since I do all my shopping with them online, my membership number with them just pops up in the box as soon as I log in on their website. I never set foot in their store but Christmas shopping for several young people means I do take advantage of their online sales every year. A couple of these cards are teacher’s rewards cards. Even as a homeschooler, I am entitled to the 10% off at Half Price books every time I shop there, and the usual rewards at Staples. Some of the cards I have never used (I have yet to shop at a CVS, but will soon experience that pleasure as I prepare for a couponing workshop held in an area that has a CVS store) Others I only rarely use; The Kmart card is necessary to participate in any of their double coupon promotions. But if I am shopping in a store, even rarely, and they offer a rewards card, I’m in.  Why? Because I like to save money, and eventually most of these cards will either save me money or make me money.

For instance, yesterday’s shopping trip involved a stop at a Dubuque consignment store, The Trading Post, where I used a filled punch card that netted me $10 in free merchandise.  It had taken me several months to fill that card, but I regularly shop there with my two youngest girls and it wasn’t too difficult to find both a beautiful necklace and a pair of earrings to use that $10 on. Free jewelry!

My next stop was Staples, where I turned in nine empty ink cartridges to take advantage of their double rewards on ink; $4 instead of their usual $2. I had to buy HP ink to take advantage of this reward, but this week I get back 20% in rewards on my ink purchase (and I needed ink anyway) and I had $30 in previous ink rewards and a $10 gift card from a rebate to use towards my purchase. See how this works? Use your rewards to pay for things you need anyway, items you will get more rewards for buying.  I also picked up two packages of Duracell batteries priced at $12.99. Who doesn’t need batteries? Staples is currently offering their Rewards card members a full 100% back in rewards on those battery packs!

 

So, my total looked like this: 2 black ink cartridges priced at $27.99 (yes, I can get them cheaper online, but remember I am getting 20% back in rewards AND $4 for each empty cartridge I turn in, for an additional $36 back), two packages of Duracell batteries at $12.99 each. My subtotal, with tax, was $85.60. OUCH. Subtract a $3 off two Duracell battery coupon (you knew coupons would be involved, didn’t you?) and my total was $82.60. Subtract the $30 in rewards I’d gotten in the mail from October purchases, and that equals $52.60. Now, subtract the $10 from the gift card that also arrived in the mail from a previous transaction, and I paid the grand sum of $42.60, still a pricey transaction~ but don’t forget!  I will get back almost $5.50 in rewards for purchasing the ink, and another $36 in rewards for turning in empty cartridges, AND $25.98 with that 100% back in the Duracell package rewards (limit 2), which means I wait for rewards in the amount of $57.58, far more than I paid for the transaction in the first place!  And I certainly know how to wait; I’m a writer and a mother. Waiting is my middle name.

And by the time I get the rewards, I’ll probably need more ink and there will be yet another rewards offer to take advantage of.

So, are rewards cards worth it?

Well, you tell me. Do you like free jewelry, batteries, and cash?