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Staples Mastercard Gift Card Rebate Deal
Staples once again has a negative cost Mastercard gift card deal this week. Like their last Visa gift card deal, the rebate is lower than we have seen in the past (erosion), however it is still slightly profitable and can generate 5X points as well. Let’s take a look!
- Buy $300 in MasterCard® Gift Cards and get a $15 Staples® Gift Card after easy rebate
- Deal valid from 07-17-2016 through 07-23-2016
- In-store only.
- Limit 1 rebate household.
You can find the full terms of this deal in the Staples weekly ad on page 12.
Maximizing the Deal
This deal is best maximized by using a card that earns 5X at office supply stores like the Chase Ink Plus or Chase Ink Cash. You can also use an Amex SimplyCash Plus which earns 5% cashback at office supply stores.
Using the Chase Ink, the optimal strategy is to purchase 2 of the $200 cards which cost $206.95 each. Here is the math:
- Cost: $413.90
- Minus Rebate: $15
- Final Cost: -$1.10
- UR Points Earned: 2,070
You could also purchase a $200 card and a $100 card, but the savings of $1 on fees doesn’t justify the loss of 500 Ultimate Rewards points on the extra $100 in spend.
The Staples Gift Card Rebate
The rebate comes as a Staples gift card. In my opinion the best value is if you actually have a use for this card, however it can be sold for 85% of its face value if you don’t. That of course would take another $2.25 out of your pocket and put you in the red overall for the deal. If you sell the gift card at 85% of face value, your cost would be $1.15 for 2,070 points.
These deals have always been nice, but with the lower rebate amount, the rebate currency and the fact that Mastercard gift cards are a bit tougher to deal with, I think this one won’t be for everyone. With that said, if you have the time and are close to a Staples, it might make sense to stop in for a purchase. Deals like this won’t make your balance swell, but over time they do help to build it up.
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.