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A Moneymaking Staples Gift Card Deal
It has been awhile since we have seen any decent gift cards deals. Earlier this year, there seemingly was a great gift card deal every week at either an office supply or grocery store. The holy grail of such deals was the Officemax promo where there wasn’t a limit (you could buy multiples per day/week), but Staples has been the most consistent with offering such deals.
Last night, a user on Slickdeals posted a leaked copy of next week’s ad and Staples will once again be offering a $20 gift card via rebate with the purchase of $300 or more in Mastercards. Quite simply, you can make money. The ad scan isn’t very legible, so I am also posting the fine print from the last time they offered this exact deal. Update: I have found a clearer copy of the ad and replaced the original blurry ad scan.
The main restriction in the past has been a limit of one per household with the rebate being done completely online through their Easy Rebates system. You can click on the image below for the rest of the fine print from the previous deal.
How to Make Money with this Staples Gift Card Deal
Staples sells $100 gift cards for a $5.95 fee and $200 gift cards for a $6.95. The best scenario is to use your Chase Ink or Amex Simply Cash Business Card which earn 5x back at office supply stores. I personally will use my Chase Ink, so I will refer to it in my math.
Note: If you have a Chase Ink Visa card, it also earns an additional 1% cash back with Visa Savings Edge.
Two $200 Gift Cards
- Cost: $413.90 ($206.95*2)
- Rebate: $20
- Final Cost: $393.90
- Profit: $6.10
- 5x Points Earned With Chase Ink: 2070
One $100 Gift Card & One $200 Gift Card
- Cost: $312.90 ($206.95 + $105.95)
- Rebate: $20
- Final Cost: $292.90
- Profit: $7.10
- 5x Points Earned With Chase Ink: 1565
With the 2x $200 card option, you end up paying $1 more up front, however you get an additional 505 points. I value those points at around $10 personally, so that will be my strategy. If you do plan to purchase $200 cards, make sure to go early, since the $200 cards generally run out quickly during these promos..
The only main drawback to this promotion is that the rebate is in the form of a Staples gift card. In the past they offered Visa rebate cards, however that hasn’t been the case lately. I shop enough at Staples that this isn’t a concern, however if you don’t want a Staples gift card, you can still sell it and break even moneywise.
As we near the holiday season, I expect to see more and more of these gift card deals. While this latest Staples gift card deal isn’t the most lucrative, it is an easy way to earn a couple of books along with a nice chunk of points. I will be heading to my local Staples on Sunday morning. Will you?
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.