Discover is offering bonus cash back in the fourth quarter for grocery store (and restaurant and movie) purchases. The downside is that they cap this at $400 worth of purchases.

Now, I’m not anal enough to keep track of purchases and switch from one Discover to the next when I’ve reached the cap. So I purchased a $400 gift card at my favorite Albertsons. Next month I will purchase another $400 GC using my other Discover card and in December my wife will use her Discover to buy a $400 Albertsons gift card.

Bingo – maximum cash back with zero under use and zero over use. And by buying the gift cards the day after my statement cuts, maximum time before payment (although I’m going to pay in advance of cut date).

Albertsons also sells other gift cards, so we might be buying our Christmas list gift cards there too.

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Read the rest here: Reader Tip of the Day: How to Conveniently Maximize Discover’s Bonus Cash Back