Staples $20 Visa gift card when buying $300 in Visa gift cards

Beginning tomorrow October 19th and through Saturday, October 25th, Staples is running a promotion where you can buy $300 worth of Visa prepaid debit cards and file for a rebate to receive a $20 Visa gift card in the mail.

Staples

Staples runs this special from time to time and it is essentially free money/free points.

Visa prepaid gift cards are usually $5.95 for a $100 card and $6.95 for a $200 card. You can either buy one of each to reach the $300 minimum, or two $200 cards to maximize points. Make sure you pay with your Ink Plus card for 5 points per dollar spent on office supplies. Here’s the breakdown for both:

Visa gift cards (2 x $200):                                   $400.00
Gift card fees (2 x $6.95)                                       $13.90
Balance due:                                                              $413.90
Ultimate Rewards points earned:                         2,070
Profit after $20 rebate:                                            $6.10

Visa gift cards ($100 and $200 each):         $300.00
Gift card fees ($5.95 + $6.95)                                           $12.90
Balance due:                                                                       $312.90
Ultimate Reward points earned:                                      1,565
Profit after $20 rebate:                                                    $7.10

In my opinion the best option is to buy the two $200 gift cards. The net cost is an additional $1, but for that amount you get an additional 505 Ultimate Rewards points. Since Ultimate Reward points are usually worth at least $0.02 each, they’re worth about $10. At the very least you can cash them out at $0.01 each, so they are worth at least $5.

Try to visit the store as early during the promotion as possible, since the stores tend to run out of gift cards quickly during the promotion. Also make sure you enroll your Visa card in the Visa Savings Edge program for an additional 1% off when using the card at Staples.

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