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Gap Amex Offer – Maximize with Gift Cards or by Purchasing Clothes
Last night while everyone was sleeping (except for me because I have a baby), American Express released a new offer for Gap stores that has a decent overall value. Lets take a look at the deal, the terms and how to maximize.
Get a one-time $25 statement credit by using your connected Card to make a single purchase of $75 or more in-store only at Gap by 9/7/15.
How to Enroll
You can enroll in the offer on the American Express website or by tweeting #AmexGap from your linked Twitter account. All of my accounts automatically tweeted the offer due to the automated system I setup a couple of weeks ago.
- Valid in-store only.
- Not valid on online purchases.
- Not valid at outlet locations.
- Valid for purchases only at Gap, Gap Baby and Gap Kids.
- Excludes Old Navy, Banana Republic, Piperlime, Athleta and Intermix. Valid at any participating location in the US and US Territories.
You can find the full terms here.
Maximize with Gift Cards
The first way you could maximize this offer is to purchase gift cards. A $75 gift card would only cost $50, but could net up to 80% or $60. Unfortunately there has been a lot of downward pressure on Gap gift cards, so I would expect that the few resellers who are buying them at 80% will be lowering their rates soon. Even at a purchase value of 70%, you would still make a small amount of money.
Maximize with Gap Cash
Another way to possibly do well with this deal is to actually purchase clothes. Through 9/7 Gap is offering $25 in “Gap Cash” (HT: Deals We Like for the Gap Cash info) for every $50 spent. The Gap Cash can be used on a future purchase between 9/16-9/21. Note that unfortunately gift cards seem to be excluded.
If you have two synced cards, you could spend $150 total (hopefully they will allow split tender) and receive $75 back in Gap Cash. The $75 in Gap Cash would need to be used on a purchase of $150 or more between 9/16-9/21. Since the Amex Offer expires before you can use the Gap Cash, you could purchase a $75 gift card during the Amex Offer and then use it during the Gap Cash dates. Here is the math:
- Cost of 1st purchase: $150
- Gap Cash Earned: $75
- Cost of 2nd purchase: $150 ($75 in Gap Cash + $75 on Amex Card)
- Total merchandise purchased: $300
- Total out of pocket $150 ($225-$75 in credits.)
So you charge $225 to your Amex credit cards and end up with $300 in merchandise. Of course, Amex will pay you back $75 as well, so your final cost is $150 for $300 in merchandise. You can’t combine Gap Cash with other “coupons”, so your actual savings might not be as high.
If you are planning to purchase gift cards to resell, keep in mind that you must actually go into a store and purchase them which could be tedious. I would also buy the cards sooner rather than later, considering the recent downward momentum on purchase rates of these cards. Overall I think this deal will work out well for a lot of people.
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.