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Staples Visa Gift Card Deal
Staples hasn’t had a Visa or Mastercard gift card deal in quite awhile. Fortunately that is changing starting on Sunday when they are offering a $20 rebate on the purchase of $250 or more in Visa gift cards. Lets break down the math and look at the offer terms to find the best strategy.
In store only. Valid 3/15/15–3/21/15. In store only. Subject to availability. Visa® is not a participant in or sponsor of this promotion. See gift cards for details, terms, conditions and (if applicable) fees. Limit 1 rebate per household. All trademarks are property of their respective owners. The Visa® gift card is issued by MetaBank®, member FDIC pursuant to a license from Visa U.S.A. Inc.
In my opinion it is best to use one of the Chase Ink cards to earn 5X Ultimate Rewards points at Staples. You could also use an Amex SimplyCash card which earns 5% back at Staples. (My math will be based on using an Ink card.) Lets find the best combination of gift cards to purchase.
Gift cards at Staples come in many denominations with a variety of fees. Here they are:
- $200 gift card for $206.95
- $100 gift card for $105.95
- $50 gift card for $54.95
You could purchase:
Option 1: 1 x $200 & 1 x $50 for $261.90 and make a profit of $8.10 + 1,310 points.
Option 2: 1 x $200 & 1 x $100 for $312.90 and make a profit of $7.10 + 1,564 points.
Option 3: 2 x $200 for $413.90 and make a profit of $6.10 + 2,070 points.
If you look closely, option 1 is $2 cheaper than option 3 and yields an additional 760 points. So by purchasing 2 x $200 gift cards, you are buying 760 additional points for $2. That amounts to a price of $.0026 per point. Pretty good deal!
There is a limit of one rebate per household. Some people have had success asking family members to use their addresses and don’t forget it may be possible to use your work address as well. Just make sure when registering the rebates that you use a different email address for each one.
These cards are issued by Metabank and can easily be liquidated to both Bluebird and Serve at Walmart or even REDbird at Target. There are also many additional ways you can liquidate these types of cards. For more see our resource on Liquidating Visa & Mastercard Gift Cards.
This is a fantastic deal if you have a Staples location close to you stocked with $200 Visa gift cards. If you can find multiple addresses to use, then it becomes even better and you can potentially make a nice cash + points profit for a few minutes worth of “work”
HT: Frequent Miler
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