Many of us will soon be receiving our economic stimulus checks from the IRS, and I for one am looking forward to this needed little “bonus”. To get some extra cash and stretch your tax rebate stimulus a little further, you can “cash in” your stimulus checks at participating merchants for gift cards and receive an additional 10%.

Simply put, that means for each $300 you earn through your economic stimulus tax rebate check, you’ll receive a shopping gift card worth $330 at the store of your choice. The particulars of the offer(s) vary somewhat from merchant to merchant, but the 10% bonus value seems to be consistent, and most offers are good from mid-May to late July 2008.

This really is a pretty sweet deal, sort of like getting free food, which we can all appreciate given the soaring cost of living increases we are all experiencing.

The supermarkets and stores that are currently offering a cash bonus to customers who cash-in their economic stimulus tax rebate check for merchant gift cards include SUPERVALU, Kroger Supermarkets, Safeway, Sears, Kmart, Pay Less, Jewel, Cub Foods, Lands’ End, RadioShack, Roundy’s, Copps, and more.

This may seem like a short list, but each of these “parent companies” have a host of stores under their wing. For instance, “Kroger Company Supermarkets” includes Kroger, City Market, Dillons, Fry’s, King Soopers, Pay Less, Baker’s, Fred Meyer, Gerbes, Food 4 Less, Hilander, QFC, Smith’s, Ralphs, Owen’s, and Jay C. Here is an excerpt and link from the Kroger press release:

“Kroger customers who are interested in exchanging their refunds or economic stimulus checks should present their check and customer loyalty card at their local store’s Customer Service center from May 2, 2008 through July 31, 2008. The program is limited to one offer per household with a limit of $1,200.00. “

In fact, although it doesn’t advertise this very prominently, you don’t have to use your stimulus check (or even be eligible for one) to get the deal at Kroger; I used one of my 3% back “rewards” credit cards to purchase my first gift card of $300 ($330), so really I saved 13% on my food purchase. I have yet to receive my stimulus check; what a deal!

Here are links to some of the other major retailer’s offers:

SUPERVALU,

Sears, Kmart, Land’s End

Radio Shack

Safeway

An extra 10% at the supermarket is a great deal for most everyone, but you might want to think twice about committing your stimulus payment to another retailer. If you end up buying things you don’t really need, the 10% bonus isn’t worth it!

Know of some other merchants that are participating? Chime in please! I know I can use all the help I can get budgeting and reducing my living costs!!

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