- Bargaineering - http://www.bargaineering.com/articles -

Busting Cashback Tiers with Mint’s $1 Coin Direct Ship Program

My wife’s first credit card was Blue Cash by American Express [3] because it offered 5% cashback on many of the things she bought. For those who went as far as to read the fine print, you’ll recognize that you can earn up to 5% cashback. The card works off the tier system where you don’t get the highest 5% cashback reward rate until you’ve reached a certain amount of spending each year. For some, the tiers are trivial. For others, the tiers are onerus. Here’s a great way to bust through them and make them almost irrelevant.

Buy money.

The Mint has been trying to get people to use dollar coins for decades because it’s cheaper. Coins can last up to thirty years in circulation, bills last only a few (one of the 50 Fun Facts about Cash [4]). You can take advantage of the Mint’s marketing push by purchasing $1 Presidential coins directly from the Mint as part of their Direct Ship program [5]. The packages come in sets of 250 coins per President and you can buy up to 2 packages per President.

With 5 Presidents currently available [6] (3 unavailable), you can spend $2,500 at the Mint and deposit the coins into your bank. You get free shipping too. The five that are still available at Andrew Jackson, James Madison, Thomas Jefferson, John Adams, and George Washington. There have been other $1 Presidential coins produced but they are not participating in the Direct Ship program.

The Blue Cash card’s tier is at $6,500, but by purchasing these coins you can are really looking at a tier of $4,000. As more coins become available and included into this program, you can drop that “real” tier down lower and lower. Not bad huh?

Here is a more detailed Presidential $1 Coin FAQ [7], for this sort of buying, from the experts at FlyerTalk, a fantastic frequent flyer mileage program experts site.