For those of you that are unaware, Kroger (KR) is a large grocery chain based out of Cincinnati, with nearly 2, 500 stores spread across multiple states.
Starting May 2nd, Kroger will allow customers to exchange their “economic stimulus” rebate check for store gift cards with an extra 10% added to it. So your $300 rebate is good for $330 at Kroger, $600 = $660, and so on. But wait! It gets better…
According to an e-mail from Kroger Corporate Communications, you don’t actually have to show them your check, thereby allowing anyone to take advantage of this offer:
Customers who do not have a hard copy of their government-issued checks may still take advantage of this offer with cash, a credit card or by presenting a valid personal check to the Customer Service center. Kroger Gift cards do not expire. Bonus amounts cannot be used toward the purchase of alcohol, lottery tickets, pharmaceuticals or tobacco products.
Amounts that differ from those outlined above will be turned into gift cards in $300.00, $600.00 or $1, 200.00 increments with the bonus amounts added on and the remainder returned to the customer. For example, if a customer has a tax refund or stimulus check of $415.50, the customer will receive a Kroger gift card valued at $330.00 and the remaining $115.50 will be returned to the customer.
Apparently, once this program starts, anyone can walk in off the street and take advantage of the 10% bonus. You can even use a reward credit card to wring a few more bucks out of this deal – details here. Just don’t lose that gift card once you buy it!
Apparently Sears is offering a similar promotion, though you have to actually present your check to participate.