Buying $200 Visa Gift Cards at Staple’s using your favorite 5x earning office supply rewards cards is something that’s been around for several months. However, included with each $200 card purchase is a $6.95 “activation fee.” Multiplied over several cards and this little fee can add up quickly, sometimes negating the total points you’ll receive from the card purchase.
However, June 15 through June 21, Staple’s is offer a $20 Visa Gift Card for $300+ purchases in Visa Gift Cards.
You could purchase $400 in gift cards, and get the $20 freebie and make a little bit of money (taking into account the activation fee purchase, and the 1% you’ll receive back through Visa Savings Edge). If you’re like me, however, you’re still trying to meet the $5,000 minimum spend on your Chase Ink or Bold.
Here’s what I purchased:
$200 Visa Gift Cards x 5 = $1,000 +
$6.95 activation fees x 5 = $34.75
– 1% Visa Edge Savings = $1,024.40
– $20 Free Visa Gift Card (before Visa Savings Edge) = $1004.40
So… for $4.40, I essentially purchased 7,243 Ultimate Rewards Points (5x using the card’s rewards and an additional 2x using the Ultimate Rewards Mall bonus). Not bad.
So, you could make about $10 in profit from this offer…or…earn over 7,000 miles and end up purchasing more gift cards to account for additional spend towards completing the $5,000 bonus.
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