Lowe's Tax Refund Card promotion

Lowe’s has a new promotion: the Tax Refund Card. Between 2/8/11 and 3/14/11, if you purchase a Lowe's gift card worth between $500-$4,000 (presumably with your tax refund, but that's unimportant), on 3/18/11, Lowe's will add an additional 10% of your purchase price to the gift card.

This is a great deal if you were planning on purchasing a major appliance in the spring. Throw this into the mix: you can get a 10% off coupon from those free change-of-address-kits available at the post office.  Now let's do the math. Say you're buying an appliance from Lowe's priced at $1,000.  The 10% off coupon will bring the price down to $900.  Buy a Lowe's Tax Refund gift card for $818 and Lowe's will raise the value of the card by 10% to $902 through this promotion.  So basically, you are getting a thousand dollar appliance for $818.

Get started here.

Hat tip:  MyMoneyBlog